PHOENIX – June 21, 2022 – onsemi (Nasdaq: ON), a leader in intelligent power and sensing technologies, joined the S&P 500® index effective prior to opening of trading today. The inclusion in the index follows the company’s highest ever fiscal year revenue in 2021 of $6.74 billion – a 28.3% year-over-year growth – and its recent recognition as a Fortune 500® company.
“Our addition to the S&P 500 index is first and foremost a testament to the incredible people driving onsemi to enable a better tomorrow, today,” said Hassane El-Khoury, president and chief executive officer, onsemi. “Furthermore, this recognition validates our shift in focus towards megatrends in high energy-efficiency applications in the automotive and industrial markets.”
These trends include electric vehicles, advanced driver assistance systems (ADAS), alternative energy and industrial automation. onsemi’s refocus on strategic products and markets with high growth and margins, along with long-term supply agreements with customers, will allow the company to continue to grow for years to come.
The S&P 500 index is recognized worldwide as one of the premier benchmarks for the U.S. stock market’s performance and covers leading companies from leading industries, representing 75-80% of available market capitalization.
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onsemi added to S&P 500 index.