Roth Capital Estimates Onsemi’s FY2024 Earnings (NASDAQ:ON)

Onsemi (NASDAQ:ON) – Analysts at Roth Capital decreased their FY2024 earnings per share (EPS) estimates for Onsemi in a research report issued on Monday, October 28th. Roth Capital analyst S. Desilva now anticipates that the semiconductor company will post earnings of $4.00 per share for the year, down from their previous estimate of $4.03. The consensus estimate for Onsemi’s current full-year earnings is $4.01 per share.

Onsemi (NASDAQ:ON) last posted its earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.02. Onsemi had a net margin of 24.84% and a return on equity of 25.48%. The company had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.75 billion. During the same period in the prior year, the business posted $1.39 earnings per share. Onsemi’s revenue for the quarter was down 19.2% on a year-over-year basis.

ON has been the topic of a number of other research reports. BNP Paribas reduced their target price on Onsemi from $60.00 to $55.00 in a report on Friday, October 25th. KeyCorp reduced their price target on Onsemi from $95.00 to $90.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 8th. Truist Financial lowered their price objective on Onsemi from $97.00 to $89.00 and set a “buy” rating for the company in a research report on Tuesday. Rosenblatt Securities restated a “neutral” rating and set a $75.00 target price on shares of Onsemi in a report on Tuesday. Finally, TD Cowen decreased their price target on shares of Onsemi from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $85.91.

Onsemi Stock Performance

Shares of ON stock opened at $70.49 on Thursday. 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 stock has a fifty day moving average of $71.43 and a 200 day moving average of $71.49. The firm has a market capitalization of $30.19 billion, a price-to-earnings ratio of 17.49, a PEG ratio of 3.82 and a beta of 1.65. Onsemi has a 52 week low of $59.34 and a 52 week high of $86.77.

Insider Activity

In other news, CEO Hassane El-Khoury sold 1,500 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $61,018,959.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.31% of the company’s stock.

Institutional Trading of Onsemi

Several institutional investors have recently made changes to their positions in the business. Mediolanum International Funds Ltd bought a new stake in Onsemi in the 1st quarter valued at $2,447,000. Assenagon Asset Management S.A. lifted its position in shares of Onsemi by 690.2% in the second quarter. Assenagon Asset Management S.A. now owns 101,318 shares of the semiconductor company’s stock worth $6,945,000 after buying an additional 88,496 shares in the last quarter. Norden Group LLC bought a new position in Onsemi during the first quarter valued at approximately $774,000. Axxcess Wealth Management LLC bought a new position in Onsemi during the first quarter valued at approximately $808,000. Finally, Meeder Asset Management Inc. grew its holdings in Onsemi by 42.9% during the 1st quarter. Meeder Asset Management Inc. now owns 26,029 shares of the semiconductor company’s stock valued at $1,914,000 after buying an additional 7,820 shares in the last quarter. Hedge funds and other institutional investors own 97.70% 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.