Onsemi Stock Soars, Leading S&P 500 Gains Monday—Here's Why
ONON Semiconductor(ON) Investopedia·2024-07-29 23:57

Key TakeawaysOnsemi shares surged Monday after the chipmaker reported better-than-expected revenue and highlighted gains in the automotive industry.Onsemi recently signed an agreement with Volkswagon to supply the automaker with chips for its electric vehicles.The company provided guidance for the coming quarter that was in line with analysts' expectations. Onsemi's (ON) stock price soared over 13% in early trading Monday, leading gains on the S&P 500 after the chipmaker reported better-than-expected revenu ...