ON Semiconductor predicts 2Q revenue above analyst view
PHOENIX—Shares of ON Semiconductor Corp. late Tuesday predicted second-quarter sales well above Wall Street expectations.
The company forecast sales of $545 million to $560 million while analysts polled by Thomson Financial expect sales of $400.6 million.
Shortly after the opening bell Wednesday, ON Semiconductor shares spiked $1.49, or 19.1 percent, to $9.30. They have ranged from $4.86 to $13.15 over the past year.
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