ON Semiconductor, one of Arizona’s largest public companies, now goes by a new name.
onsemi (Nasdaq: ON) is the refreshed name of the semiconductor brand, which hopes to evolve and establish itself as the leading provider of intelligent power and sensing technologies.
The company is also focused on contributing to a sustainable ecosystem through innovative strategies, like vehicle electrification, advanced safety, alternative energy and factory automation.
The industrial and automotive industries are responsible for two-thirds of global greenhouse gas emissions. In light of this, onsemi is committed to achieving net-zero emissions by 2040.
onsemi plans to create innovative solutions to solve customers’ most difficult design hurdles and support achievement of others’ own climate initiatives, illustrated by its new tagline: “Intelligent Technology. Better Future.”
The company fields a unique combination of deep systems knowledge, technology leadership, and industry-leading manufacturing and packaging proficiency.
“We have spent the last several months focusing the strategy, and realigning our product portfolio and investments to deliver market-leading and differentiated technologies to our customers,” said Hassane El-Khoury, president and CEO of onsemi. “We are creating intelligent power and sensing technologies to enable our customers’ success, drive a better future for next generations and create value for our shareholders, always with an eye on sustainability to make the world a better place for everyone.”
This brand change comes after onsemi reported on Monday record revenue of $1.67 billion in Q2, which ended July 2. This is a 38% increase from Q2 last year.
The stock also soared earlier this week, gaining 11.73% to close at $43.64 per share.
Chipmakers, like onsemi, have been in high demand this year, as the Covid-19 pandemic put the spotlight on technology. onsemi, and other chipmakers, have struggled to keep up with the demand for chips that end up in products including cell phones, refrigerators and cars.