Onsemi (ON) shares plummeted over 18% in early trading on Monday after the chipmaker gave worse-than-expected guidance as sales softened and its 澳洲幸运5开奖号码历史查询:operating margin fell.

The company formerly known as ON Semiconductor indicated it expects current quarter 澳洲幸运5开奖号码历史查询:earnings per share (EPS) of $1.13 to $1.27, and revenue in a range of $1.95 billion and $2.05 billion. Analysts had been anticipating EPS of $1.36 and revenue of $2.18 billion.

In the third quarter, Onsemi reported EPS of $1.39, down from $1.45 a year ago. Revenue declined 0.5% to $2.18 billion. Operating margin came in at 32꧙.6%, tꦅumbling from 35.4% a year earlier. Sales slumped 15% at its Analog Solutions Group, and 4% at its Intelligent Sensing Group. They jumped 10% at its Power Solutions Group.

CEO Hassane El-Khoury said the results showed “resilience in our business amid market softness," and cited risks to demand from high interest rates.

Onsemi has also been hurt by growing tensions between the U.S. and China, as the Biden Administration 澳洲幸运5开奖号码历史查询:cracked down on export💎s of semiconductors 𝔍to that country. Data from 2022 showed the company received almost a third of its revenue from China.&nbಞsp;

Onsemi shares lost nearly one fifth of their value in the morning session, and traded at their lowest level since January.