ON Semiconductor shares fell after the company offered weaker-than-expected guidance
ON Semiconductor shares fell 20% Monday after the company offered weaker-than-expected guidance for its fourth quarter.
Analysts at Deutsche Bank said ON Semiconductor's guidance suggests the company has "finally succumbed to macro pressures" like softening demand for cars. Even so, the analysts said they believe the company's structural improvements will yield better outcomes than it saw in past cycles. They maintained their Buy rating on the stock.
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