(Boursier.com) — Onsemi , a leader in smart power and sensing technologies, will be added to the Nasdaq 100 Index before the market opens on Tuesday, June 20. The inclusion comes after two consecutive years of record results, tripling the company’s market capitalization in the past 30 months. The company closed 2022 with revenue of $8.3 billion and profits growing 3x faster than revenue. Onsemi replaces Riviana designer of electric vehicles, kicked out of the index after its stock price fell.
“Our addition to the prestigious Nasdaq 100 Index demonstrates the success of our strategy over the past 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, CEO of Onsemi. “We lead with superior technology in our core automotive and industrial end markets, and we intend to deliver above-market revenue growth while maintaining our financial performance at the forefront. Of the industry”.
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