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ON Semiconductor Is Fairly Valued Despite High Capital Intensity Challenges
ON Semiconductor leads in silicon carbide and analog/mixed-signal platforms, supporting autonomous driving. Major competitors include Infineon and Texas Instruments; I consider Infineon the best investment. ON's growth is competitive with Texas Instruments but slightly lags behind Infineon. The semiconductor industry is capital-intensive, leading to periods of weak free cash flow. Infineon has higher growth rates. ON is cheap compared to peers based on P/E GAAP ratios and performs well in my 20-year discounted earnings model. However, the DCF model shows a less promising valuation.
Seekingalpha | 2 years ago
Forget Nvidia: 3 Semiconductor Stocks to Buy Instead
One is a wireless networking specialist with more than 8,000 customers. One specializes in automotive chips and boasts a market value of over $50 billion.
Fool | 2 years ago
