- S&P Dow Jones Indices looks to incorporate changes to the S&P 500, S&P MidCap 400, and S&P SmallCap 600 indices effective June 21.
- ON Semiconductor Corp (NASDAQ:ON) will replace IPG Photonics Corp (NASDAQ:IPGP) in the S&P 500.
- IPG Photonics will replace Yelp Inc (NYSE:YELP) in the S&P MidCap 400.
- Also Read: BofA Picks Nvidia As Top Pick; Expresses Bullishness On Marvell, AMD, ON Semiconductor
- Yelp will replace Red Robin Gourmet Burgers Inc (NASDAQ:RRGB) in the S&P SmallCap 600.
- The changes will ensure each index is more representative of its market capitalization range.
- Recently, ON Semiconductor beat its first-quarter FY22 revenue and EPS consensus, aided by auto and industrial end-markets.
- Price Action: ON shares traded higher by 5.74% at $66.55 on the last check Monday.
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