2024-05-31 16:32:05 ET
Summary
- SiC is the main growth driver for ON Semiconductor Corporation's PSG segment, with a 5-year forward average revenue growth of 122%.
- The actual revenue growth in the ASG segment for 2023 differed by 21.4% from projections, while the ISG segment showed a smaller deviation of 5.2%.
- The Automotive segment is the most important segment for ON Semiconductor, representing 52.3% of total revenue in 2023 and demonstrating the highest growth rate.
In our previous analysis of ON Semiconductor Corporation aka onsemi ( ON ), we highlighted SiC as the main growth driver for the company’s PSG segment, with a 5-year forward average revenue growth of 122%. Furthermore, we identified the company’s competitive advantage with its wide product portfolio breadth of SiC products.
Despite our optimistic outlook for the company's revenue growth in 2023, the actual results deviated significantly from our projections. The most substantial variance occurred in the PSG segment, where we anticipated robust growth propelled by SiC demand. Furthermore, the actual revenue growth in the ASG segment for 2023 differed by 21.4% from our forecast, while the ISG segment showed a smaller deviation of 5.2%....
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ON Semiconductor: Outlook Expected To Improve