Onsemi announced its revenue growth strategic plan, which is expected to triple the average growth rate of the semiconductor industry

    Onsemi (NASDAQ listing code: ON), a leading enterprise in intelligent power supply and intelligent perception technology, held an investor conference in New York City on May 16, 2023 (US time), with the theme of "accelerating towards a sustainable ecosystem". It focused on how the company‘s transformation over the past two years has promoted its performance beyond the industry, and disclosed its strategic plan to accelerate growth until 2027. Not long before this event was held, Onsemi released its first quarter results that exceeded Wall Street‘s expectations.

    Ansome is redoubling its efforts to develop high-end intelligent power supply and intelligent perception business in the automotive and industrial fields. Its intelligent power supply focuses on silicon carbide (SiC), silicon power supply (IGBT, FET) and power IC. According to the financial model of Onsemi‘s accelerated growth, from 2022 to 2027, the compound annual growth rate (CAGR) of the company‘s revenue is expected to reach 10% to 12%, which is three times the expected growth rate of the semiconductor market. Moreover, through the sale of new products and the investment of incremental profits in SiC, its Gross margin target in 2027 is expected to reach 53%. The company‘s overall strategy is also shifting from Fab Light to Fab Right. The former focuses on building a flexible and low Fixed cost production layout, while the latter emphasizes optimizing asset allocation to improve efficiency and achieve a striking return on capital investment (ROIC).

    Hassane El Khoury, President and CEO of Onsemi, said: "Although the current market environment is uncertain, Onsemi is still accelerating its growth faster than expected, thanks to our efforts to support the construction of a sustainable ecosystem by focusing on the structural change trend in the two key markets of automobile and industry. As many customers have said, we will continue to consolidate our leading position in the SiC field through EliteSiC technology, which is a key link towards net zero emissions. Thank our employees Their dedication and perseverance have helped the company achieve higher efficiency, better performance, and a higher level of sustainability

    Onsemi highlighted several recent news announcements in the automotive and energy fields, sharing how the company continues to consolidate its position in key areas. Onsemi will, as always, be committed to providing key components for automotive electrification, advanced driving assistance systems (ADAS), energy storage and charging, autonomous mobile robots and machine vision, and creating solutions to achieve a sustainable ecosystem.