onsemi (US v: ON), a leader in smart power and intelligent perception technology, will be added to the NASDAQ 100 Index before the market opens on Tuesday, June 20, 2023. On has had two consecutive record years, tripling its market value over the past 30 months to $8.3 billion in revenue in 2022, with earnings growing four times faster than revenue.

Hassane El-Khoury, ON’s President and Chief Executive Officer, said: “ON’s inclusion in the prestigious NASDAQ 100 Index is a testament to the success of the strategic transformation we have implemented over the past two years, during which the unwavering dedication and innovation of our employees around the world has delivered significant value to ON’s shareholders. We lead with superior technology in key end markets such as automotive and industrial and expect to deliver above-market revenue growth while maintaining industry-leading financial performance.”

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On has been driving structural changes across the company and providing smart power and smart sensing solutions to support the high-growth automotive and industrial megatrents. Now ON is redoubling its efforts to address market opportunities with strong growth businesses in silicon carbide, silicon power supplies, power ics, image sensors and sensor interfaces. With a proven strategy and projected revenues through long-term supply agreements, On is well positioned to further promote growth in the semiconductor industry.

The NASDAQ 100 is recognized as one of the world’s most outstanding large-cap indices, including 100 of the largest NasdaQ-listed non-financial companies, and serves as a benchmark for financial products such as options, futures, and funds, with a focus on top-performing industries such as technology, consumer products, and healthcare.

On Semiconductor has been added to the other premier benchmark of U.S. stock market performance: the S&P 500 Index in June 2022.