SCOTTSDALE, Ariz. – June 12, 2023 – onsemi (Nasdaq: ON), a leader in intelligent power and sensing technologies, will be added to the Nasdaq-100 Index® prior to market open on Tuesday, June 20, 2023. The inclusion comes after two consecutive years of record results, tripling the company’s market cap over the last 30 months. The company closed out 2022 with $8.3 billion in revenue and with earnings growing 3x faster than revenue.
“Our addition to the prestigious Nasdaq-100 Index is a testament to the successful execution of our strategy over the last two years, during which our employees around the world have unlocked tremendous value for onsemi shareholders through their unwavering dedication and innovation," said Hassane El-Khoury, president and chief executive officer, onsemi. “We are leading with superior technology in our key end markets of automotive and industrial, and we intend to deliver above-market revenue growth while maintaining our industry-leading financial performance."
onsemi has been driving structural changes across the company while delivering intelligent power and sensing solutions for the high-growth megatrends in automotive and industrial. Today, the company is doubling down on its premium businesses to address the market opportunity with silicon carbide, silicon power, power ICs, image sensors and sensor interfaces. With a proven strategy and committed revenue through long-term supply agreements, the company is well-positioned to further accelerate growth in the semiconductor industry.
Widely recognized as one of the world’s largest preeminent large-cap indexes, the Nasdaq-100 Index is comprised of the 100 largest non-financial companies listed on the Nasdaq Stock Market and acts as a benchmark for financial products such as options, futures and funds. It is heavily allocated towards top-performing industries such as technology, consumer goods and healthcare.
onsemi was previously added to the S&P 500® index, another premier benchmark of the U.S. equities market, in June of 2022.
Caution Regarding Forward-Looking Statements
This press release contains “forward-looking statements," as that term is defined in Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are often characterized by the use of words such as “believes," “estimates," “expects," “projects," “may," “will," “intends," “plans," “should," or “anticipates," and similar expressions. However, all statements, other than statements of historical facts, could be deemed forward-looking statements. All forward-looking statements in this press release are made based on onsemi’s current expectations, forecasts, estimates and assumptions, and involve risks, uncertainties and other factors that could cause results or events to differ materially from those expressed in the forward-looking statements. Additional factors that could cause results to differ materially from those projected in the forward-looking statements are contained in onsemi’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and other of onsemi’s filings with the SEC, respectively. Investing in our securities involves a high degree of risk and uncertainty, and you should carefully consider the trends, risks and uncertainties described in our 2022 Annual Report on Form 10-K and other reports filed with or furnished to the SEC before making any investment decision with respect to our securities. If any of these trends, risks or uncertainties actually occurs or continues, our business, financial condition or operating results could be materially adversely affected, the trading prices of our securities could decline, and you could lose all or part of your investment. onsemi assumes no obligation to update such information, except as may be required by law. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by this cautionary statement.
