On Semiconductor's Q1 outlook disappoints, shares fall 4% amid BNP Paribas' bearish call

On Semiconductor (ON) fell over 4% as BNP Paribas downgraded the company, citing no signs of an "imminent recovery." The firm's latest results showed a seasonal outlook for Q1 of FY26, but BNP Paribas remains cautious about the company's prospects. The decline in ON's stock price reflects concerns about the company's financial performance.