ON Semiconductor Surges 4.08% on $560M Volume Ranking 201st in U.S. Equities as Automotive Chip Shortages Drive Sector Rally

. 18, , . equities. The rally followed renewed investor focus on in the automotive semiconductor sector, driven by persistent chip shortages and production delays in key manufacturing hubs.

Analysts noted that ON's performance aligned with broader sectoral strength as automakers accelerated orders for power management and sensor components. However, near-term volatility remains tied to inventory adjustments at major clients and the pace of new product certifications. The stock's technical rebound from a recent consolidation phase also attracted short-term momentum traders, though fundamental catalysts remain centered on long-term industry tailwinds.

To build an accurate back-test I need to pin down a few practical details: Universe definition (e.g., all U.S. exchange-listed common stocks), ranking metric (e.g., dollar volume), frictional costs (e.g., zero transaction costs), and portfolio weighting (e.g., equal-weight). Default assumptions include NYSE/NASDAQ/NYSE Arca ordinary shares, daily close ranking, no slippage, and equal-weighted positions. Adjustments can be made prior to data execution.