Onsemi shares reached a new 52-week high Monday in early trading as its fourth quarter earnings exceeded analysts' expectations, but the shares lost most of the day's gains on the company's softened outlook for the first quarter.
“From our manufacturing footprint to our product portfolio and go-to-market strategy, we have transformed all facets of our business and set ourselves up to win in the fastest-growing megatrends of the automotive and industrial markets,” he said. “We earned ourselves a position in the S&P 500 this past year and we created more value for our shareholders than ever before.”
Volkswagen Group in January selected Onsemi as a supplier for silicon carbide modules for use in its fleet of electric vehicles. The company also expects a bump in revenue from its silicon carbide shipments to Tesla in 2023. It has expanded its partnership with the electric vehicle maker to include “numerous power and analog solutions,” according to the company.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Phoenix Suns President Jason Rowley steps down, per report - Phoenix Business JournalPhoenix Suns president and CEO Jason Rowley has resigned just ahead of the expected introduction of new team owner Mat Ishbia, according to a report from ESPN.
Source: phxbizjournal - 🏆 254. / 63 Read more »
Open AI Chat GPT tips for small-business owners - Phoenix Business JournalAs more business owners explore the potential of ChatGPT, they see a mix of risks and rewards. Here are some best practices experts say businesses need to keep in mind.
Source: phxbizjournal - 🏆 254. / 63 Read more »
Eegee's CEO Jason Vaughn is working to expand the Tucson favorite - Phoenix Business JournalVaughn, who’s 30-year background in fast food includes leadership roles at Yum! Brands and Wendy’s, came into Eegee’s at a time when the company had already started a major expansion into the Phoenix market. Eegee’s was founded in Tucson and the majority of its 30-plus restaurants are in southern Arizona. But as the company grows Vaughn has said there are some changes he’s trying to implement.
Source: phxbizjournal - 🏆 254. / 63 Read more »
In a pickle: Major League Pickleball launches season in Mesa - Phoenix Business JournalMajor League Pickleball (MLP) kicked off its 2023 season in late January at the Legacy Sports Complex with 24 teams from across the country participating in the tournament-style event. Find out how MLP works and see a gallery of photos of the AZ Drive, Phoenix's pro team in the league.
Source: phxbizjournal - 🏆 254. / 63 Read more »
Eegee's CEO Jason Vaughn is working to expand the Tucson favorite - Phoenix Business JournalVaughn, who’s 30-year background in fast food includes leadership roles at Yum! Brands and Wendy’s, came into Eegee’s at a time when the company had already started a major expansion into the Phoenix market. Eegee’s was founded in Tucson and the majority of its 30-plus restaurants are in southern Arizona. But as the company grows Vaughn has said there are some changes he’s trying to implement.
Source: phxbizjournal - 🏆 254. / 63 Read more »
In a pickle: Major League Pickleball launches season in Mesa - Phoenix Business JournalMajor League Pickleball (MLP) kicked off its 2023 season in late January at the Legacy Sports Complex with 24 teams from across the country participating in the tournament-style event. Find out how MLP works and see a gallery of photos of the AZ Drive, Phoenix's pro team in the league.
Source: phxbizjournal - 🏆 254. / 63 Read more »