Onsemi to Post Q3 2024 Earnings of $0.98 Per Share, KeyCorp Forecasts (NASDAQ:ON)

Onsemi (NASDAQ:ON) – KeyCorp issued their Q3 2024 EPS estimates for shares of Onsemi in a report released on Monday, October 7th. KeyCorp analyst J. Vinh anticipates that the semiconductor company will post earnings per share of $0.98 for the quarter. KeyCorp has a “Overweight” rating and a $90.00 price target on the stock. The consensus estimate for Onsemi’s current full-year earnings is $4.01 per share. KeyCorp also issued estimates for Onsemi’s Q4 2024 earnings at $1.01 EPS and FY2024 earnings at $4.02 EPS.

Several other equities analysts have also recently weighed in on ON. Benchmark lifted their price objective on Onsemi from $80.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Truist Financial raised their price objective on Onsemi from $85.00 to $97.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Rosenblatt Securities upped their target price on Onsemi from $70.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Needham & Company LLC restated a “buy” rating and issued a $92.00 price target on shares of Onsemi in a research note on Thursday, June 13th. Finally, StockNews.com cut Onsemi from a “hold” rating to a “sell” rating in a research note on Monday, August 26th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $85.83.

Onsemi Stock Performance

ON stock opened at $70.31 on Thursday. Onsemi has a twelve month low of $59.34 and a twelve month high of $95.59. The company has a quick ratio of 1.95, a current ratio of 3.01 and a debt-to-equity ratio of 0.31. The company has a market cap of $30.25 billion, a P/E ratio of 14.35, a price-to-earnings-growth ratio of 3.84 and a beta of 1.65. The business’s fifty day moving average is $72.01 and its 200-day moving average is $71.59.

Onsemi (NASDAQ:ON) last issued its quarterly earnings results on Monday, July 29th. The semiconductor company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.04. The business had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.73 billion. Onsemi had a return on equity of 25.48% and a net margin of 24.84%. The firm’s revenue for the quarter was down 17.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.33 earnings per share.

Insider Transactions at Onsemi

In other Onsemi news, insider Simon Keeton sold 30,939 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $77.94, for a total value of $2,411,385.66. Following the transaction, the insider now directly owns 231,092 shares of the company’s stock, valued at approximately $18,011,310.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $70.80, for a total value of $106,200.00. Following the transaction, the chief executive officer now owns 840,620 shares in the company, valued at approximately $59,515,896. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Simon Keeton sold 30,939 shares of the firm’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 sale, the insider now directly owns 231,092 shares of the company’s stock, valued at $18,011,310.48. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Onsemi

Institutional investors and hedge funds have recently made changes to their positions in the business. Point72 Italy S.r.l. purchased a new stake in Onsemi in the 4th quarter valued at about $8,680,000. Parkwood LLC lifted its holdings in Onsemi by 10.0% during the fourth quarter. Parkwood LLC now owns 31,917 shares of the semiconductor company’s stock worth $2,666,000 after acquiring an additional 2,901 shares during the period. Profund Advisors LLC grew its stake in Onsemi by 16.8% in the 4th quarter. Profund Advisors LLC now owns 62,788 shares of the semiconductor company’s stock valued at $5,245,000 after purchasing an additional 9,026 shares during the period. V Square Quantitative Management LLC boosted its holdings in shares of Onsemi by 35.9% in the 4th quarter. V Square Quantitative Management LLC now owns 2,612 shares of the semiconductor company’s stock worth $218,000 after buying an additional 690 shares during the last quarter. Finally, Integrated Advisors Network LLC increased its stake in shares of Onsemi by 1.7% during the 4th quarter. Integrated Advisors Network LLC now owns 9,715 shares of the semiconductor company’s stock worth $811,000 after purchasing an additional 164 shares during the last quarter. Institutional investors and hedge funds own 97.70% of the company’s stock.

About Onsemi

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.