Onsemi (ON) Set to Announce Quarterly Earnings on Monday

Onsemi (NASDAQ:ON) will 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.Individual that wish to register for the company’s earnings conference call can do so using this link.

Onsemi (NASDAQ:ON) last announced its quarterly earnings results on Monday, July 29th. The semiconductor company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.92 by $0.04. The business had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Onsemi had a return on equity of 25.48% and a net margin of 24.84%. The firm’s quarterly revenue was down 17.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.33 EPS. 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 ON opened at $68.49 on Monday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.95 and a current ratio of 3.01. The firm has a market cap of $29.34 billion, a PE ratio of 15.60, a PEG ratio of 3.90 and a beta of 1.65. The firm’s 50 day moving average price is $72.09 and its 200 day moving average price is $71.43. Onsemi has a twelve month low of $59.34 and a twelve month high of $90.09.

Insider Activity at Onsemi

In other news, CEO Hassane El-Khoury sold 1,500 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $70.80, for a total transaction of $106,200.00. Following the completion of the transaction, the chief executive officer now directly owns 840,620 shares of the company’s stock, valued at approximately $59,515,896. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Onsemi news, insider Simon Keeton sold 30,939 shares of the stock in a transaction on Wednesday, July 31st. The stock was 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 directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Hassane El-Khoury sold 1,500 shares of Onsemi stock in a transaction on Monday, September 16th. The shares were sold at an average price of $70.80, for a total value of $106,200.00. Following the transaction, the chief executive officer now directly owns 840,620 shares of the company’s stock, valued at approximately $59,515,896. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,939 shares of company stock worth $2,626,651. 0.31% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ON. Bank of America lifted their price objective on shares of Onsemi from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft boosted their price target on Onsemi from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Mizuho set a $85.00 price objective on Onsemi in a report on Friday. Citigroup lowered Onsemi from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $85.00 to $77.00 in a report on Monday, July 15th. Finally, JPMorgan Chase & Co. upped their target price on Onsemi from $85.00 to $88.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Three 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. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $85.74.

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.