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Fly News Breaks for February 4, 2020
ON
Feb 4, 2020 | 06:21 EDT
ON Semiconductor yesterday reported mixed results and guidance with higher revenue but lower than expected gross margins due to a host of execution issues, Citi analyst Christopher Danely tells investors in a research note. The analyst lowered his price target for the shares to $23 from $24.50 but reiterates a Buy rating on the name due to the recovery in semiconductors and ON's business.
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