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onsemi announced results for the third quarter of 2024 with the following highlights:
- Revenue of $1,761.9 million
- GAAP gross margin and non-GAAP gross margin of 45.4% and 45.5%, respectively
- GAAP operating margin and non-GAAP operating margin of 25.3% and 28.2%, respectively
- GAAP diluted earnings per share and non-GAAP diluted earnings per share of $0.93 and $0.99, respectively
- Returned 75% of free cash flow over the last 12 months to shareholders through stock repurchases
“With third-quarter results above expectations, we remain focused on delivering consistent results in the current environment through execution and prudent financial management,” said Hassane El-Khoury, president and CEO, onsemi.
“As power demands continue to rise across our key markets, and the need for greater efficiency becomes paramount, we are investing to win across the entire power spectrum to ensure that onsemi is best positioned to gain share in automotive, industrial and AI data center.”
Original – onsemi
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As expected, the business performance of Siltronic AG in Q3 2024 was characterized by subdued demand from the semiconductor industry.
“In a persistently challenging market environment, we have delivered solid quarterly results. Consequently, we can confirm our guidance for the full year 2024. However, it remains uncertain when chip manufacturers’ inventories will return to normal levels,” commented Dr. Michael Heckmeier, CEO of Siltronic AG on the developments.
Siltronic generated sales of EUR 357.3 million in Q3 2024, an increase of 1.7 percent compared to the previous quarter (Q2 2024: EUR 351.3 million). This is due to an increase in wafer area sold, which was partially offset by opposing product mix effects. After nine months, the company reported sales of EUR 1,052.2 million, a decrease of 9.1 percent year-on-year (Q1-Q3 2023: EUR 1,157.2 million). This was mainly due to the lower wafer area sold. In addition, product mix-, price- and FX effects also had a slightly negative impact.
Cost of sales increased by 2.6 percent in Q3 2024 compared to the previous quarter, mainly due to higher wafer area sold and a moderate increase in depreciation. For the first nine months of 2024, cost of sales decreased by 2.5 percent compared to the same period in 2023. The disproportionate decline compared to sales is primarily due to a reduced dilution of fixed costs and higher depreciation.
As a result, the gross profit fell by EUR 1.4 million compared to the previous quarter and from January to September 2024 by EUR 83.1 million compared to the previous year. The gross margin fell from 25.3 percent to 20.0 percent year-on-year.
EBITDA in Q3 was EUR 89.4 million and thus on the level of the previous quarter (Q2 2024: EUR 90.6 million). The EBITDA margin remained at a solid level of 25.0 percent (Q2 2024: 25.8 percent). After nine months, Siltronic reported an EBITDA of EUR 270.7 million (Q1-Q3 2023: EUR 342.8 million) and an EBITDA margin of 25.7 percent (Q1-Q3 2023: 29.6 percent).
Due to the lower EBITDA and higher depreciation, EBIT amounted to EUR 28.9 million in Q3 (Q2 2024: EUR 33.0 million) and to EUR 97.8 million after the first nine months (Q1-Q3 2023: EUR 194.5 million). Net profit for the quarter was EUR 18.8 million (Q2 2024: EUR 22.4 million) and earnings per share were EUR 0.60 (Q2 2024: EUR 0.73). Net income for the period from January to September was EUR 68.8 million (Q1-Q3 2023: EUR 169.0 million) and earnings per share of EUR 2.19 after EUR 5.13 in the same period of the previous year.
With an equity ratio of 47.1 percent as of September 30, 2024 (December 31, 2023: 46.6 percent), Siltronic continues to maintain a good balance sheet quality. Loan liabilities increased mainly due to the partial draw of a loan. Additionally a promissory note loan was successfully placed in September and paid out in early October. At roughly EUR 370 million, the original issue volume was significantly exceeded.
“We are pleased with the high level of interest in this transaction. The strong demand is a demonstration of the promissory note loan investors’ trust in the company,” adds Claudia Schmitt, CFO of Siltronic AG.
Cash flow from operating activities for the period January to September 2024 decreased by EUR 83.3 million compared to the previous year. This was mainly due to the lower EBITDA and the change in prepayments. In the same period of the previous year, there was a significant net inflow, while in the first nine months of the financial year there was a net outflow of prepayments.
Despite a noticable reduction in capex during the year, cash outflows for capex remained at a high level of EUR 565.1 million, mainly due to the construction of the new 300 mm fab in Singapore. Accordingly, net cash flow, which excludes cash inflows and outflows from prepayments, was negative as expected at EUR -317.7 million (Q1-Q3 2023: EUR -631.3 million).
As a result, cash and cash equivalents and financial investments decreased by EUR 168.4 million to EUR 290.7 million in the first nine months of 2024. Siltronic thus reported net financial debt of EUR 739.1 million at the end of September 2024.
As already communicated in the half-year report 2024, Siltronic AG’s Executive Board expects sales to be in the high single-digit percentage range below the previous year. This is primarily due to the lower wafer area sold, as well as each slightly negative FX rate (EUR/USD 1.10), price- and product mix effects.
The customer qualifications that are decisive for the start of depreciation of the new fab in Singapore have been delayed from the fourth quarter of 2024 into next year. As a result, depreciation of the new fab and other ramp costs that impact earnings will occur over the course of 2025. Accordingly, the full-year EBITDA margin guidance is adjusted to 24 to 26 percent. Depreciation and amortization for 2024 will therefore be lower and is expected to be between EUR 230 million and EUR 250 million. Capex including intangible assets remains unchanged and will be in the range of EUR 500 million to EUR 530 million.
Despite the challenging market environment, the company anticipates a significant growth potential in the medium and long term. Key drivers of this growth are megatrends such as Artificial Intelligence, Digitization, and Electromobility. With its investments in expanding production capacity and improving the product mix, Siltronic is well-positioned to profitably support this growth.
Original – Siltronic
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LATEST NEWS / PRODUCT & TECHNOLOGY / SiC / WBG2 Min Read
Many industrial applications today are transitioning to higher power levels with minimized power losses, which can be achieved through increased DC link voltage. Infineon Technologies AG addresses this challenge by introducing the CoolSiC™ Schottky diode 2000 V G5, the first discrete silicon carbide diode on the market with a breakdown voltage of 2000 V. The product family is suitable for applications with DC link voltages up to 1500 VDC and offers current ratings from 10 to 80 A. This makes it ideal for higher DC link voltage applications such as in solar and EV charging applications.
The product family comes in a TO-247PLUS-4-HCC package, with 14 mm creepage and 5.4 mm clearance distance. This, together with a current rating of up to 80 A, enables a significantly higher power density. It allows developers to achieve higher power levels in their applications with only half the component count of 1200 V solutions. This simplifies the overall design and enables a smooth transition from multi-level topologies to 2-level topologies.
In addition, the CoolSiC Schottky diode 2000V G5 utilizes the .XT interconnection technology that leads to significantly lower thermal resistance and impedance, enabling better heat management. Furthermore, the robustness against humidity has been demonstrated in HV-H3TRB reliability tests. The diodes exhibit neither reverse recovery current nor forward recovery and feature a low forward voltage, ensuring enhanced system performance.
The 2000 V diode family is a perfect match for the CoolSiC MOSFETs 2000 V in the TO-247Plus-4 HCC package that Infineon introduced in spring 2024. The CoolSiC diodes 2000 V portfolio will be extended by offering them in the TO-247-2 package, which will be available in December 2024. A matching gate driver portfolio is also available for the CoolSiC MOSFETs 2000 V.
Original – Infineon Technologies
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LATEST NEWS3 Min Read
Alpha and Omega Semiconductor Limited (AOS) will exhibit and demonstrate the capabilities of its expanding line of breakthrough application-specific power semiconductor, power IC and module solutions at electronica 2024. Designed to meet the dynamic, important power management challenges in several key application areas and markets, the AOS products highlighted at electronica will include:
- Automotive and Industrial: AOS Gen2 SiC MOSFETs support the needs of a wide array of automotive and industrial applications with its latest advanced packages. AOS offers two AEC-Q101 automotive-qualified surface mount options for extreme power density, including a standard D2PAK-7L and the GTPAK™ with surface mount topside cooling featuring a Kelvin source for the highest efficiency. AOS has several SiC modules that meet higher power charging stations and industrial solar inverter design requirements. Also displayed will be AOS’ comprehensive line 10mOhm-500mOhm, 650V-1700V SiC MOSFETs.
- New Motor Drive ICs: AOS will announce a new range of 60V and 100V driver ICs for power tools, outdoor garden equipment, and e-mobility applications, including a 100V half-bridge driver IC, a 100V 3-phase driver IC, and a 60V 3-phase driver IC. These products all support 100 percent duty cycle operation, and demo boards using AOS motor driver IC and AlphaSGT™ MOSFETs (30V−150V) will be featured.
- Power Supply and Renewable Energy: A significant solution in AOS’ growing High-Voltage Super Junction MOSFET portfolio is its industry-leading optimized αMOS5™ 600V to 700V Super Junction MOSFETs, which helps designers achieve efficiency and density goals while satisfying budget goals. Featuring fast switching, a robust UIS/body diode, and ease of use, these state-of-the-art MOSFETs meet the latest server, telecom rectifier, solar inverter, EV charger, gaming, PC, and universal charging/PD design requirements.
- Innovative Packaging: AOS’ highly efficient 25V−150V MOSFETs are available in advanced packaging, including a double-sided cooling DFN 5×6 that delivers industry-leading thermal resistance. Also available is the newly-released LFPAK 5×6 package, which features gull-wing leads for enhanced board reliability and larger copper clips that significantly improve current carrying capability.
- Automotive and E-mobility: In AOS’ increasing line of automotive MOSFETs, the new automotive-grade 80V (AOTL66810Q) and 100V (AOTL66912Q) MOSFETs in the TOLL package are designed to achieve the highest current capability. The AOS TOLL package utilizes advanced clip technology to achieve a high in-rush current rating and very low package resistance and inductance, enabling improved EMI performance compared to other TOLL packages based on standard wire-bonding technology packages. These new automotive-grade MOSFETs help designers meet the power requirements in electric vehicles, battery management systems (BMS), and high-performance inverters (BLDC motors) for e-mobility.
- Intelligent Power Modules, Mega IPM7: AOS has integrated its latest RC IGBT and high-voltage gate driver into the world’s most compact package design, delivering mega power of up to 100W in motor control applications. The portfolio covers 600V / (1A−3A) in various package options (Mega IPM-7D, IPM-7DT, IPM-7E) that are ideal solutions for various design requirements.
Original – Alpha and Omega Semiconductor
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LATEST NEWS / PROJECTS4 Min Read
U.S. Senators Gary Peters (MI) and Debbie Stabenow (MI) announced Hemlock Semiconductor (HSC) will receive up to $325 million in federal funding to build a new, state-of-the-art manufacturing facility on its existing campus in Hemlock, Michigan. The new facility will allow the company to expand production of hyper-pure polysilicon needed to manufacture semiconductor chips, which are used to make a wide variety of products including vehicles, cell phones, washing machines, medical devices, agricultural equipment, solar panels, and defense technologies.
The funding comes from the CHIPS and Science Act, legislation Peters and Stabenow helped craft and pass into law to boost U.S. production of semiconductor chips, create American jobs, and strengthen U.S. national security by lessening our dependence on foreign companies for these critical technologies. This investment is expected to create 180 good-paying manufacturing jobs, as well as thousands of construction jobs, in Michigan.
Hemlock Semiconductor (HSC) is the nation’s leading producer of hyper-pure polysilicon for the semiconductor and solar industries and one of only five companies in the world capable of producing the highest quality polysilicon for semiconductor chips.
“In Michigan, our workers know how to make things well and with precision. That’s why I’m thrilled to announce this major investment that is going to keep Michigan at the forefront of advanced manufacturing, nationally and globally, and create thousands of good-paying jobs in our state,” said Senator Peters. “As one of just five companies worldwide and the only company headquartered in the U.S. that produces hyper-pure polysilicon for semiconductors, Hemlock Semiconductor plays a critical role in both our economy and national security. I’m proud to have authored the provision in the CHIPS and Science Act that ensured HSC would be eligible for this grant and have since continued to advocate for HSC as they work to ramp up production here at home. This funding will be a catalyst to that effort.”
“Michigan knows all too well what happens when we are dependent on semiconductor chips made halfway around the world. That’s why, as part of the CHIPS and Science Act, I led the effort with Senator Peters and Representative Kildee to make sure semiconductor chips are manufacturing here in the United States and there is no better place to make them than Michigan. This important federal investment will boost Michigan manufacturing, fix our broken supply chains, lower costs, and bring jobs home,” said Senator Stabenow. “I applaud Hemlock Semiconductor’s leadership in semiconductor manufacturing and improving our supply chains.”
“HSC is proud to be a manufacturing powerhouse for two vital industries of the future—semiconductor and solar. Bolstered by the CHIPS Act, we are planning for a once-in-a-generation investment in advanced technologies to continue serving as a top polysilicon supplier to the leading-edge semiconductor market,” said HSC Chairman and CEO AB Ghosh. “Our customers want high quality and sustainably made polysilicon. This proposed investment demonstrates that the Biden-Harris Administration, Governor Whitmer and our Michigan congressional champions understand HSC’s unique ability to meet those demands and our crucial role in strengthening American interests. As the United States works to reshore critical supply chains, we hope to make additional investments.”
Peters and Stabenow have made strengthening American manufacturing and securing domestic supply chains a top priority. The CHIPS and Science Act includes a provision Peters and Stabenow authored to support the domestic production of mature semiconductor technologies and ensure that projects supporting critical manufacturing industries are given priority status, which would include the automotive sector. This is in addition to $50 billion already in the bill to incentivize U.S. production of all types of semiconductors – for a total of $52 billion.
The CHIPS and Science Act also included Peters’ bipartisan Investing in Domestic Semiconductor Manufacturing Act, which ensures federal incentives to boost domestic semiconductor manufacturing include U.S. suppliers that produce the materials and manufacturing equipment that enable semiconductor manufacturing – including HSC. This provision authored by Peters ensured HSC would be eligible for the grant funding announced today. The CHIPS and Science Act additionally authorized increased funding for the Manufacturing Extension Partnership (MEP) program, which has been a priority for Peters and Stabenow.
Last year, the Senate unanimously passed Peters’ bipartisan legislation to strengthen federal efforts to expand domestic manufacturing of semiconductor chips. Peters’ Securing Semiconductor Supply Chains Act would direct the U.S. Department of Commerce’s SelectUSA program, in collaboration with other federal agencies and state economic development organizations, to develop strategies that would attract investment in U.S. semiconductor manufacturers and supply chains.
Original – Hemlock Semiconductor
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MCC Semi announced the latest innovation in their MOSFET lineup. The 100V wide SOA MCTL2D0N10YHR with split-gate trench technology satisfies the design demands of high-performance applications with ease. Balancing efficiency and reliability in harsh conditions is no longer an issue, thanks to this N-channel power MOSFET’s wide safe operating area (SOA) and a host of efficient characteristics.
This SOA comparison highlights significant differences in drain current between two 100V MOSFETs, MCTL300N10YB and MCTL2D0N10YHR, at 10ms pulse. This MOSFET’s wide SOA enhances safety and performance while overcoming common challenges engineers face when designing for high-power applications. It also provides a host of features that add up to ultimate efficiency and reliability. With a gate charge and on-resistance of 2mΩ, this MOSFET also optimizes energy use at every angle, reducing operational costs.
Designed to withstand junction temperatures of up to 175⁰C, this component delivers unquestionable performance in environments where lesser components would fail. Excellent thermal management is also assured, thanks to the TOLL package engineered for superior heat dissipation, which mitigates thermal-related issues. MCC’s 100V MOSFET is the ideal solution for diverse applications, including telecommunications, computing, audio amplification, and motor controls.
Features & Benefits:
- Wide SOA: Ensures safe operation across a broad range of conditions.
- Split-gate Trench (SGT) Technology: Provides enhanced performance and efficiency.
- Low On-Resistance: Maximizes efficiency by minimizing power losses.
- Low Conduction Losses: Reduces heat generation during operation.
- Low Gate Charge: Maximizes efficiency by minimizing switching losses.
- Low Gate Charge: Maximizes efficiency by minimizing switching losses.
- Excellent Thermal Performance: TOLL package facilitates superior heat dissipation.
Original – Micro Commercial Components
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LATEST NEWS / PRODUCT & TECHNOLOGY2 Min Read
Vishay Intertechnology, Inc. introduced two new IGBT and MOSFET drivers in the compact, high isolation stretched SO-6 package. Delivering high peak output currents of 3 A and 4 A, respectively, the Vishay Semiconductors VOFD341A and VOFD343A offer high operating temperatures to +125 °C and low propagation delay of 200 ns maximum.
Consisting of an AlGaAs LED optically coupled to an integrated circuit with a power output stage, the optocouplers are intended for solar inverters and microinverters; AC and brushless DC industrial motor control inverters; and inverter stages for AC/DC conversion in UPS. The devices are ideally suited for directly driving IGBTs with ratings up to 1200 V / 100 A.
The high operating temperature of the VOFD341A and VOFD343A provides a higher temperature safety margin for more compact designs, while their high peak output current allows for faster switching by eliminating the need for an additional driver stage. The devices’ low propagation delay minimizes switching losses, while facilitating more precise PWM regulation.
The optocouplers’ high isolation package enables high working voltages up to 1.140 V, which allows for high voltage inverter stages, while still maintaining enough voltage safety margin. The RoHS-compliant devices offer high noise immunity of 50 kV/µs, which prevents fail functions in fast switching power stages.
Original – Vishay Intertechnology
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LATEST NEWS / PRODUCT & TECHNOLOGY / Si2 Min Read
Toshiba Electronic Devices & Storage Corporation has expanded the lineup of 150V N-channel power MOSFETs with new six products that use the new generation process “U-MOSⅩ-H series.” Products in this series are suitable for the switching power supplies of industrial equipment such as data centers and communication base. The package of new products is a three-pin through hole type: TO-220 for “TK4R9E15Q5, TK7R2E15Q5 and TK9R6E15Q5” and TO-220SIS for “TK5R0A15Q5, TK7R4A15Q5 and TK9R7A15Q5.”
The new products use the U-MOSⅩ-H process to achieve low drain-source On-resistance. In particular, TK4R9E15Q5 features the excellent low drain-source On-resistance of 4.9mΩ (max). In addition, the new products uses high-speed diode (HSD) to improve reverse recovery characteristics, which are important for synchronous rectification applications, by reducing reverse recovery charge and faster reverse recovery time. Used in synchronous rectification applications, the new products reduce the power loss of switching power supplies and help improve efficiency.
The first product TPH9R00CQ5 which uses HSD, has approximately 74% less reverse recovery charge and approximately 44% faster reverse recovery time than Toshiba‘s existing product TPH9R00CQH, which does not use HSD. The U-MOSⅩ-H process using this HSD has applied to through hole type packages in addition to surface mount type packages.
The new products have reduced the drain source spike voltage generated between the drain and source when MOSFET is switching, helping to lower EMI in switching power supplies.
Toshiba will continue to promote the expansion of its power MOSFET lineup, which helps improve the efficiency of power supplies, thereby contributing to reducing the power consumption of equipment.
Applications
- Switching power supplies for communication equipment, etc. (high efficiency AC-DC converters, high efficiency DC-DC converters, etc.)
- Motor control equipment (motor drives, etc.)
Features
- Excellent low On-resistance:
TK4R9E15Q5 RDS(ON)=4.9mΩ (max) (VGS=10V) - Low reverse recovery charge:
TK9R6E15Q5 Qrr=32nC (typ.) (-dIDR/dt=100A/μs) - Fast reverse recovery time:
TK9R6E15Q5 trr=40ns (typ.) (-dIDR/dt=100A/μs)
Original – Toshiba
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Texas Instruments Incorporated reported third quarter revenue of $4.15 billion, net income of $1.36 billion and earnings per share of $1.47. Earnings per share included a 3-cent benefit for items that were not in the company’s original guidance.
Regarding the company’s performance and returns to shareholders, Haviv Ilan, TI’s president and CEO, made the following comments:
- “Revenue decreased 8% from the same quarter a year ago and increased 9% sequentially. Industrial continued to decline sequentially, while all other end markets grew.
- “Our cash flow from operations of $6.2 billion for the trailing 12 months again underscored the strength of our business model, the quality of our product portfolio and the benefit of 300mm production. Free cash flow for the same period was $1.5 billion.
- “Over the past 12 months we invested $3.7 billion in R&D and SG&A, invested $4.8 billion in capital expenditures and returned $5.2 billion to owners.
- “TI’s fourth quarter outlook is for revenue in the range of $3.70 billion to $4.00 billion and earnings per share between $1.07 and $1.29. We continue to expect our fourth quarter effective tax rate to be about 13%.”
Original – Texas Instruments