ON Semiconductor Corporation is trading at $118.27 (-10.28%) following a sharp selloff tied to weakness across semiconductor stocks and a broad market risk-off move.
- The decline follows sector-wide pressure triggered by Broadcom’s revenue miss and unchanged AI outlook, which has sent both the S&P 500 and Nasdaq sharply lower.
- The stock is also facing significant profit-taking after a period of strong gains, further amplifying the current downward move.