ON Semiconductor Corp
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Information Technology : Semiconductors & Semiconductor Equipment | Mid Cap Blend
Company profile

ON Semiconductor Corporation offers a portfolio of sensors, power management, connectivity, custom and system on chip (SoC), analog, logic, timing, and discrete devices. The Company's segments include Power Solutions Group, Analog Solutions Group and Image Sensor Group. The Power Solutions Group offers a range of discrete, module and integrated semiconductor products. The Analog Solutions Group designs and develops analog, mixed-signal and logic application specific integrated circuits (ASICs) and application specific standard products (ASSPs), and power solutions. The Image Sensor Group designs and develops complementary metal oxide semiconductor (CMOS) and charge-coupled device (CCD) image sensors, as well as proximity sensors, image signal processors, and actuator drivers for autofocus and image stabilization for various end users in the automotive, industrial, consumer, wireless, medical, and aerospace/defense markets.

Closing Price
$37.78
Day's Change
0.01 (0.03%)
Bid
--
Ask
--
B/A Size
--
Day's High
38.28
Day's Low
37.50
Volume
(Below Average)
Volume:
4,232,072

10-day average volume:
4,984,001
4,232,072

Clean Energy Fuels stock tumbles after analyst turns bearish, citing lack of 'substance' in Amazon supply deal

10:10 am ET April 20, 2021 (MarketWatch)
Print

Shares of Clean Energy Fuels Corp. (CLNE) tumbled 9.6% in morning trading Tuesday, more than erasing the previous session's rally, after Raymond James analyst Pavel Molchanov turned bearish on the provider of environmentally friendly fuel for the transportation industry, saying investors have gotten "carried away by headlines over substance." Molchanov downgraded the stock to underperform, after being at market perform for the past 14 months. On Monday, the stock soared as much as 26.6% intraday before pulling back to close up just 6.3%, after the company announced a fuel supply agreement with Amazon.com Inc (http://www.marketwatch.com/story/clean-energy-fuels-stock-soars-after-supply-equity-investment-agreements-with-amazon-2021-04-19). (AMZN), and said it issued Amazon warrants to by up to 53.1 million shares of common stock, which would represent about 27% of the shares outstanding. Molchanov said the stock's gain on the news reflected "sentiment-driven multiple expansion with minimal read-through for profitability." He noted that the supply agreement was for only 46 of Clean Energy's 565 stations. "A non-exclusive supply deal pertains to 8% of Clean Energy's stations -- is that worth 27% dilution?" Molchanov wrote in a note to clients. The stock has rallied 36.2% year to date, while the Invesco WilderHill Clean Energy ETF (PBW) has dropped 17.5% and the S&P 500 has gained 10.6%.

-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com

	

(END) Dow Jones Newswires

April 20, 2021 10:10 ET (14:10 GMT)

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