Onsemi (ON) to Release Quarterly Earnings on Monday

Onsemi (NASDAQ:ON) is scheduled to be releasing its earnings data before the market opens on Monday, October 28th. Analysts expect Onsemi to post earnings of $0.97 per share for the quarter. Onsemi has set its Q3 guidance at $0.91-1.03 EPS and its Q3 2024 guidance at 0.910-1.030 EPS.Persons that wish to listen to the company’s earnings conference call can do so using this link.

Onsemi (NASDAQ:ON) last issued its quarterly earnings data on Monday, July 29th. The semiconductor company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. Onsemi had a net margin of 24.84% and a return on equity of 25.48%. The firm had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the prior year, the company posted $1.33 earnings per share. Onsemi’s revenue for the quarter was down 17.2% on a year-over-year basis. On average, analysts expect Onsemi to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Onsemi Price Performance

Shares of NASDAQ:ON opened at $71.25 on Friday. The stock has a market capitalization of $30.65 billion, a P/E ratio of 14.54, a P/E/G ratio of 3.57 and a beta of 1.65. The business has a 50-day moving average of $71.63 and a two-hundred day moving average of $71.39. Onsemi has a fifty-two week low of $59.34 and a fifty-two week high of $86.77. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.01 and a quick ratio of 1.95.

Analysts Set New Price Targets

A number of research analysts have weighed in on ON shares. KeyCorp cut their target price on shares of Onsemi from $95.00 to $90.00 and set an “overweight” rating for the company in a research report on Tuesday, October 8th. Benchmark increased their target price on Onsemi from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Morgan Stanley downgraded Onsemi from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $70.00 to $65.00 in a research report on Thursday, July 11th. Bank of America increased their price objective on Onsemi from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Finally, Susquehanna boosted their target price on shares of Onsemi from $85.00 to $95.00 and gave the stock a “positive” rating in a research report on Wednesday, July 17th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $85.74.

Insider Buying and Selling at Onsemi

In related news, insider Simon Keeton sold 30,939 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $77.94, for a total value of $2,411,385.66. Following the completion of the transaction, the insider now owns 231,092 shares in the company, valued at $18,011,310.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $72.71, for a total transaction of $109,065.00. Following the completion of the sale, the chief executive officer now owns 839,210 shares in the company, valued at $61,018,959.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Simon Keeton sold 30,939 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $77.94, for a total transaction of $2,411,385.66. Following the completion of the transaction, the insider now owns 231,092 shares in the company, valued at $18,011,310.48. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,939 shares of company stock worth $2,626,651. 0.31% of the stock is currently owned by corporate insiders.

Onsemi Company Profile

onsemi is engaged in disruptive innovations and also a supplier of power and analog semiconductors. The firm offers vehicle electrification and safety, sustainable energy grids, industrial automation, and 5G and cloud infrastructure, with a focus on automotive and industrial end-markets. It operates through the following segments: Power Solutions Group, Advanced Solutions Group, and Intelligent Sensing Group.