Research Analysts Issue Forecasts for Onsemi FY2024 Earnings

Onsemi (NASDAQ:ON) – Equities research analysts at Zacks Research decreased their FY2024 EPS estimates for Onsemi in a research note issued on Friday, November 15th. Zacks Research analyst R. Department now anticipates that the semiconductor company will earn $4.00 per share for the year, down from their prior forecast of $4.02. The consensus estimate for Onsemi’s current full-year earnings is $4.00 per share. Zacks Research also issued estimates for Onsemi’s Q4 2024 earnings at $0.97 EPS, Q1 2025 earnings at $0.93 EPS, Q2 2025 earnings at $1.02 EPS, Q3 2025 earnings at $1.14 EPS, Q4 2025 earnings at $1.21 EPS, FY2025 earnings at $4.30 EPS, Q1 2026 earnings at $1.15 EPS, Q2 2026 earnings at $1.24 EPS, Q3 2026 earnings at $1.34 EPS and FY2026 earnings at $5.15 EPS.

Onsemi (NASDAQ:ON) last issued its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.02. The business had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.75 billion. Onsemi had a net margin of 23.80% and a return on equity of 22.38%. The business’s quarterly revenue was down 19.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.39 earnings per share.

Several other analysts have also recently issued reports on the stock. Robert W. Baird increased their price target on shares of Onsemi from $70.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Morgan Stanley raised their target price on shares of Onsemi from $63.00 to $64.00 and gave the company an “underweight” rating in a report on Tuesday, October 29th. StockNews.com raised shares of Onsemi from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. TD Cowen reduced their target price on shares of Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and issued a $75.00 target price on shares of Onsemi in a report on Tuesday, October 29th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $86.30.

Onsemi Stock Down 3.4 %

Shares of ON opened at $64.76 on Monday. The stock has a market capitalization of $27.57 billion, a PE ratio of 16.07, a P/E/G ratio of 6.94 and a beta of 1.65. Onsemi has a 1 year low of $59.34 and a 1 year high of $86.77. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.02 and a current ratio of 3.07. The company’s 50-day simple moving average is $70.43 and its 200-day simple moving average is $71.89.

Hedge Funds Weigh In On Onsemi

A number of hedge funds have recently modified their holdings of the business. Swedbank AB purchased a new position in Onsemi in the 1st quarter valued at $90,274,000. Bridgewater Associates LP grew its position in Onsemi by 8,367.5% in the 3rd quarter. Bridgewater Associates LP now owns 1,123,041 shares of the semiconductor company’s stock valued at $81,544,000 after buying an additional 1,109,778 shares during the last quarter. American Century Companies Inc. grew its position in Onsemi by 451.3% in the 2nd quarter. American Century Companies Inc. now owns 1,111,112 shares of the semiconductor company’s stock valued at $76,167,000 after buying an additional 909,558 shares during the last quarter. Van ECK Associates Corp grew its position in Onsemi by 26.4% in the 3rd quarter. Van ECK Associates Corp now owns 3,495,056 shares of the semiconductor company’s stock valued at $237,559,000 after buying an additional 729,081 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Onsemi by 18.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,217,221 shares of the semiconductor company’s stock valued at $289,088,000 after buying an additional 665,633 shares during the last quarter. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Onsemi

In other news, CEO Hassane El-Khoury sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $70.80, for a total transaction of $106,200.00. Following the transaction, the chief executive officer now directly owns 840,620 shares in the company, valued at approximately $59,515,896. This trade represents a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.31% of the stock is currently owned by insiders.

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.