ON Semi slips even as it secures nearly $2B in agreements with solar manufacturers
ON Semiconductor (NASDAQ:ON) sharesÂ slipped around 0.7%Â in early trading on Wednesday even as the company secured $1.95B in long-term supply agreements with solar inverter manufacturers.
ON Semi (ON) said it has signed long-term supply agreements with eight of the top 10 solar inverter suppliers.
"With onsemiâs intelligent power technologies, customers can achieve greater efficiency and power density to capture and save as much energy from the sun as possible to advance our common mission towards a more sustainable future," said ON Semi senior vice president Asif Jakwani in a statement.