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ON Semiconductor Corp. (NASDAQ: ON), popularly known as onsemi, is at the forefront of energy-efficient innovations. The company’s mission is to empower customers worldwide to reduce global energy use through its wide array of semiconductor-based solutions. With a comprehensive portfolio that includes energy-efficient power and signal management, logic, and both standard and custom devices, ON Semiconductor is a pivotal player in the semiconductor industry.
The company serves a broad spectrum of industries, helping engineers tackle unique design challenges in automotive, communications, computing, consumer, industrial, medical, and military/aerospace applications. Onsemi is particularly recognized for its influential role in the automotive market, being the second-largest power chipmaker globally and the leading supplier of image sensors tailored for automotive applications.
In recent years, ON Semiconductor has shifted its strategic focus to emerging applications such as electric vehicles, autonomous vehicles, industrial automation, and renewable energy. This pivot is in response to growing market demands and technological advancements, positioning the company to capture substantial growth in these high-potential markets.
Onsemi’s operational excellence is reflected in its responsive and reliable supply chain, robust quality programs, and extensive network of manufacturing facilities, sales offices, and design centers spread across North America, Europe, and the Asia-Pacific regions. This global footprint ensures that the company remains close to key markets and can swiftly respond to customer needs.
Financially, ON Semiconductor is in a strong position, continually investing in innovative projects and partnerships. This commitment to growth and excellence is evident in its latest projects and collaborations, aimed at developing cutting-edge solutions that meet the evolving needs of their clientele. Whether through advancements in power semiconductor technology or innovative sensor solutions, ON Semiconductor continues to lead the charge in making the world more energy-efficient.
onsemi (Nasdaq: ON) has entered a long-term supply agreement with ZEEKR to provide its EliteSiC silicon carbide power devices. This collaboration aims to enhance the efficiency of ZEEKR's electric vehicles (EVs) and improve performance metrics including charging speed and driving range. The EliteSiC MOSFET devices will significantly reduce the size and weight of traction inverters while boosting power and thermal efficiency. ZEEKR, a premium EV brand from Geely, has ambitious growth plans and will leverage this tech to offer lower carbon emissions. The agreement is expected to strengthen the supply chain over the next decade, enabling both companies to meet the growing demand in the EV market.
onsemi (Nasdaq: ON) is set to announce its financial results for Q1 2023 on May 1, 2023, before market open. A conference call will follow at 9 a.m. ET on the same day. Interested parties can access the call via webcast or teleconference by pre-registering online. onsemi focuses on automotive and industrial sectors, driving innovations in vehicle electrification, sustainable energy, and 5G infrastructures. The company is included in the Fortune 500 and S&P 500, emphasizing its significant market position and commitment to technological advancements.
onsemi has launched industry-first simulation tools for its EliteSiC Silicon Carbide product family, enhancing their application in power electronics. The new Elite Power Simulator and Self-Service PLECS Model Generator provide valuable insights through early-stage system-level simulations, significantly reducing hardware testing costs. These tools allow engineers to generate high-fidelity PLECS models tailored for complex applications, particularly for soft switching designs. The launch aims to expedite product development and optimize performance within technology limits, marking a significant advancement for the power electronics industry.
onsemi (Nasdaq: ON) has introduced the NCV-RSL15, an ultra-low power automotive-grade wireless microcontroller equipped with Bluetooth Low Energy connectivity. This innovation aims to meet the rising demand for wireless connectivity in vehicles while addressing security concerns linked to increased sensor usage. The NCV-RSL15 boasts the industry's lowest power consumption, enabling a 10-year battery life, making it ideal for applications like Tire Monitoring Systems and portable remote access devices. It features advanced security protocols, including Arm CryptoCell technology, ensuring protection against unauthorized access. The device is supported by a robust software development kit.
onsemi (Nasdaq: ON) has committed to the Science Based Target Initiative (SBTi) as part of its strategy to achieve net zero emissions by 2040. The company submitted a commitment letter to SBTi, initiating a 24-month goal validation process. This move includes setting near-term science-based emission reduction targets to ensure global temperatures do not exceed 1.5°C. The approved targets will be published by December 2024, enhancing transparency and investor confidence. The initiative is expected to align onsemi's growth with sustainable practices, providing a competitive edge in meeting customer emission reduction goals.
onsemi (Nasdaq: ON) has announced a long-term supply agreement with BMW AG for its EliteSiC technology, which will be integrated into BMW's electric drivetrains. The EliteSiC 750 V M3 die will be used in a full bridge power module to enhance the efficiency and performance of BMW's electric vehicles (EVs). This collaboration focuses on optimizing the size and performance of components to meet the growing demand for premium EVs. onsemi's vertically integrated supply chain will support production scalability, enhancing the range and efficiency of BMW's future EV models.
onsemi announced the pricing of its private offering of $1.3 billion in 0.50% Convertible Senior Notes due 2029, at a 32.5% premium to its stock closing price on February 23, 2023. The offering size increased from $1.1 billion. The net proceeds, estimated at $1.27 billion, will primarily repay existing debt and finance hedge transactions. The notes will mature on March 1, 2029, and interest will be paid semiannually. onsemi's board has also authorized a $3.0 billion stock repurchase program, using $100 million for immediate repurchases. This offering is expected to close on February 28, 2023.
ON Semiconductor Corporation (NASDAQ: ON) announced plans to offer $1.1 billion of Convertible Senior Notes due 2029, subject to market conditions. The offering will comply with Rule 144A of the Securities Act and is intended for qualified institutional buyers. Proceeds will primarily be used to repay existing $1.086 billion indebtedness under its Term Loan 'B' Facility, incur transaction costs, and for general corporate purposes. Additionally, the company has authorized a $3 billion stock repurchase program, with potential buybacks impacting share pricing. The notes will have semiannual interest, and conversions can involve cash or common stock.
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