FILE PHOTO: Semiconductor chips are seen on a circuit board of a computer in this illustration picture taken February 25, 2022. REUTERS/Florence Lo/Illustration/File Photo
(Reuters) - Chipmaker ON Semiconductor Corp on Monday forecast third-quarter revenue above market estimates, on optimism that strong demand from the automotive sector will offset broader weakness in the semiconductor industry.
Shares of the Arizona-based company were up more than 5% in premarket trading after gaining 68.5% so far this year.
