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flag Onsemi beat Q1 earnings expectations despite a 22.4% revenue drop, with analysts still rating it a "Buy."

flag Onsemi reported first-quarter earnings of $0.55 per share, surpassing analysts' expectations by $0.04. flag Despite a 22.4% drop in revenue to $1.45 billion compared to the same period last year, the company beat revenue forecasts. flag Onsemi's Q2 guidance projects earnings between $0.45 to $0.55 per share and revenue between $1.40 billion and $1.50 billion. flag Analysts at Zacks gave the company a "Buy" rating, with an average rating of "Moderate Buy" and a target price of $61.24.

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