onsemi (NASDAQ:ON) Announces Earnings Results

onsemi (NASDAQ:ON) announced its quarterly earnings data on Monday. The semiconductor company reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.02, FiscalAI reports. onsemi had a return on equity of 14.06% and a net margin of 10.17%. The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.71 billion.

onsemi Stock Down 2.2%

ON traded down $1.56 during mid-day trading on Monday, reaching $70.11. 12,468,132 shares of the stock were exchanged, compared to its average volume of 10,520,491. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.49 and a current ratio of 3.46. The stock has a market capitalization of $27.29 billion, a PE ratio of 44.94, a price-to-earnings-growth ratio of 0.59 and a beta of 2.11. The company has a 50 day moving average price of $74.75 and a two-hundred day moving average price of $81.96. onsemi has a 1 year low of $44.56 and a 1 year high of $134.92.

Wall Street Analyst Weigh In

ON has been the subject of several research reports. Stifel Nicolaus raised their target price on onsemi from $75.00 to $80.00 and gave the company a “hold” rating in a research note on Monday, October 5th. Zacks Research downgraded onsemi from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Weiss Ratings upgraded onsemi from a “sell (d+)” rating to a “hold (c)” rating in a report on Friday, August 7th. Needham & Company LLC reissued a “buy” rating and issued a $116.00 price target on shares of onsemi in a research report on Friday, October 2nd. Finally, Mizuho reduced their price target on shares of onsemi from $110.00 to $95.00 and set an “outperform” rating for the company in a research report on Thursday, September 17th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and sixteen have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $92.68.

Key onsemi News

Here are the key news stories impacting onsemi this week:

• Positive Sentiment: Analysts expect third-quarter revenue of approximately $1.7 billion and EPS of about $0.88. A result above those expectations, particularly if supported by improving automotive and industrial semiconductor demand, could provide a near-term catalyst. ON Semiconductor Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call
• Neutral Sentiment: onsemi is scheduled to report quarterly results imminently, making earnings guidance, order trends and comments on inventory normalization the primary near-term drivers for ON. Investors are likely focused more on the forward outlook than on the quarter’s headline results. Earnings to watch: onsemi (ON) reports Q3 results tomorrow
• Negative Sentiment: Analysts have recently reduced their price targets for onsemi despite generally constructive ratings. The revisions signal concern about near-term growth and margins and may be contributing to selling pressure ahead of the report. ON Semiconductor Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call
• Negative Sentiment: With the stock trading at roughly 45 times earnings and materially below its 52-week high, investors appear to be demanding evidence of a sustained recovery. Any earnings miss, cautious guidance or continued weakness in automotive and industrial markets could intensify the decline.

Insider Transactions at onsemi

In other onsemi news, insider Sudhir Gopalswamy sold 15,578 shares of onsemi stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $80.00, for a total transaction of $1,246,240.00. Following the transaction, the insider owned 158,177 shares of the company’s stock, valued at $12,654,160. This trade represents a 8.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.35% 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. The Power Solutions Group segment offers discrete, module, and semiconductor products that perform multiple application functions, including power switching, power conversion, signal conditioning, circuit protection, signal amplification, and voltage reference functions.