Onsemi NASDAQ: ON, formerly known as ON Semiconductor, is a chip stock that hasn’t had a great 2024 so far. The company’s shares are down 12%, underperforming its industry. The Invesco PHLX Semiconductor ETF NASDAQ: SOXQ is up 22% this year. However, some indicators give reason to believe there may be a comeback for Onsemi. I’ll break down what the company does and what those factors are.Get Onsemi alerts:Onsemi: Powering Electric VehiclesOnsemi TodayONOnsemi$69.57 -3.78 (-5.15%) 52-Week Range$59.34▼$95.67P ...