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Shares of ON Semiconductor fall 21% as fourth-quarter guidance disappoints Wall Street

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ON Semiconductor shares fell after the company offered weaker-than-expected guidance.

ON Semiconductor shares fell 21% Monday after the company offered weaker-than-expected guidance for its fourth quarter.

Analysts at Deutsche Bank said ON Semiconductor's guidance suggests the company has "finally succumbed to macro pressures" such as softening demand for cars. Even so, the analysts said they believe the company's structural improvements will yield better outcomes than it saw in past cycles. They maintained their buy rating on the stock.

 

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