The $7 Billion Reason ON Semiconductor Stock Is Down Today

ON Semiconductor (ON) cratered on June 26 after the company signed a definitive agreement to buy San Jose-headquartered edge-AI and connectivity specialist Synaptics (SYNA).

The announcement of this all-stock transaction shaved billions off ON's market cap and pushed it decisively below its 20-day and 50-day moving averages (MAs), indicating shifting momentum in favor of the bears.

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Despite today's selloff, however, ON stock remains a winning investment, currently up about 67% versus the start of this year.

For Synaptics investors, this $7 billion deal replaces each SYNA share with 1.35 common shares of Phoenix-headquartered ON Semiconductor.

The transaction signals immediate, meanin

Fuente original: Yahoo Finance (https://finance.yahoo.com/markets/stocks/articles/7-billion-reason-semiconductor-stock-205237648.html)