TXN - What's Going On With On Semiconductor Stock? | Benzinga
ON Semiconductor Corporation (NASDAQ:ON) shares are trading higher Wednesday after Texas Instruments, Inc. (NASDAQ:TXN) reported better-than-expected first-quarter results.
The Details:
Texas Instruments reported quarterly earnings of $1.20 per share, beating estimates of $1.08 per share, and revenue of $3.66 billion, which beat the consensus estimate of $3.611 billion.
On Semiconductor is set to report its first-quarter results on April 29 before the bell. According to estimates from Benzinga Pro, analysts expect the company to report earnings of $1.04 per share and quarterly revenue of $1.851 billion.
Several analysts have recently lowered their price targets for On, including Morgan Stanley analyst Joseph Moore who lowered the price target from $80 to $70 and Wells Fargo analyst ...