B. Riley Issues Optimistic Forecast for Onsemi Earnings

Onsemi (NASDAQ:ON) – Equities researchers at B. Riley lifted their FY2024 earnings per share (EPS) estimates for shares of Onsemi in a research note issued on Monday, October 28th. B. Riley analyst C. Ellis now anticipates that the semiconductor company will post earnings per share of $3.99 for the year, up from their previous forecast of $3.96. The consensus estimate for Onsemi’s current full-year earnings is $4.01 per share. B. Riley also issued estimates for Onsemi’s Q4 2024 earnings at $0.96 EPS, Q1 2025 earnings at $1.03 EPS, Q2 2025 earnings at $1.15 EPS, Q3 2025 earnings at $1.31 EPS, Q4 2025 earnings at $1.30 EPS, FY2025 earnings at $4.79 EPS, Q1 2026 earnings at $1.31 EPS, Q2 2026 earnings at $1.41 EPS and FY2026 earnings at $5.78 EPS.

Several other equities analysts have also recently issued reports on the company. Benchmark reaffirmed a “buy” rating and set a $90.00 price objective on shares of Onsemi in a report on Tuesday. Susquehanna lifted their price objective on Onsemi from $85.00 to $95.00 and gave the stock a “positive” rating in a report on Wednesday, July 17th. Bank of America raised their price target on Onsemi from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. BNP Paribas dropped their price target on Onsemi from $60.00 to $55.00 in a research report on Friday, October 25th. Finally, KeyCorp dropped their price target on Onsemi from $95.00 to $90.00 and set an “overweight” rating for the company in a research report on Tuesday, October 8th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.91.

Onsemi Stock Performance

Shares of ON stock opened at $73.63 on Wednesday. The stock has a fifty day moving average price of $71.43 and a 200 day moving average price of $71.49. The stock has a market cap of $31.54 billion, a PE ratio of 18.27, a P/E/G ratio of 3.82 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 0.31, a quick ratio of 1.95 and a current ratio of 3.01.

Onsemi (NASDAQ:ON) last issued its quarterly earnings data 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 firm had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.75 billion. Onsemi had a return on equity of 25.48% and a net margin of 24.84%. Onsemi’s revenue was down 19.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.39 earnings per share.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its stake in shares of Onsemi by 18.7% during the second quarter. Dimensional Fund Advisors LP now owns 4,217,221 shares of the semiconductor company’s stock worth $289,088,000 after purchasing an additional 665,633 shares in the last quarter. Capital International Investors lifted its stake in shares of Onsemi by 1.0% during the first quarter. Capital International Investors now owns 4,107,006 shares of the semiconductor company’s stock worth $302,070,000 after purchasing an additional 42,117 shares in the last quarter. Van ECK Associates Corp lifted its stake in shares of Onsemi by 26.4% during the third quarter. Van ECK Associates Corp now owns 3,495,056 shares of the semiconductor company’s stock worth $237,559,000 after purchasing an additional 729,081 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Onsemi by 14.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,968,160 shares of the semiconductor company’s stock worth $215,518,000 after purchasing an additional 380,471 shares in the last quarter. Finally, Earnest Partners LLC lifted its stake in shares of Onsemi by 6.7% during the first quarter. Earnest Partners LLC now owns 2,596,042 shares of the semiconductor company’s stock worth $190,939,000 after purchasing an additional 161,987 shares in the last quarter. Institutional investors and hedge funds own 97.70% of the company’s stock.

Insider Activity

In related news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $72.71, for a total value of $109,065.00. Following the transaction, the chief executive officer now owns 839,210 shares in the company, valued at approximately $61,018,959.10. This trade 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 can be accessed through the SEC website. Company insiders own 0.31% of the company’s stock.

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.