FY2024 Earnings Forecast for Onsemi Issued By Zacks Research

Onsemi (NASDAQ:ON) – Equities research analysts at Zacks Research cut their FY2024 earnings per share (EPS) estimates for Onsemi in a report released on Friday, November 15th. Zacks Research analyst R. Department now forecasts that the semiconductor company will post earnings of $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.

Other equities research analysts also recently issued reports about the stock. StockNews.com upgraded shares of Onsemi from a “sell” rating to a “hold” rating in a research report on Tuesday, October 29th. Robert W. Baird lifted their price objective on Onsemi from $70.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. JPMorgan Chase & Co. increased their target price on Onsemi from $85.00 to $88.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft boosted their price target on Onsemi from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Finally, TD Cowen reduced their price objective on shares of Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock 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 sixteen have given a buy rating to the company. Based on data from MarketBeat, Onsemi has an average rating of “Moderate Buy” and an average price target of $86.30.

Onsemi Stock Performance

Shares of NASDAQ ON opened at $66.65 on Monday. Onsemi has a one year low of $59.34 and a one year high of $86.77. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.07 and a quick ratio of 2.02. The firm has a market cap of $28.38 billion, a price-to-earnings ratio of 16.54, a P/E/G ratio of 6.94 and a beta of 1.65. The stock’s fifty day moving average price is $70.34 and its two-hundred day moving average price is $71.84.

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

Insider Activity

In related news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $72.71, for a total transaction of $109,065.00. Following the transaction, the chief executive officer now directly owns 839,210 shares of the company’s stock, valued at $61,018,959.10. This represents a 0.18 % 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. 0.31% of the stock is owned by company insiders.

Hedge Funds Weigh In On Onsemi

Large investors have recently modified their holdings of the company. Davis Investment Partners LLC raised its stake in shares of Onsemi by 0.8% in the third quarter. Davis Investment Partners LLC now owns 17,112 shares of the semiconductor company’s stock worth $1,224,000 after purchasing an additional 142 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its stake in Onsemi by 36.7% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock valued at $43,000 after acquiring an additional 169 shares in the last quarter. Greenleaf Trust boosted its holdings in Onsemi by 3.4% during the 3rd quarter. Greenleaf Trust now owns 5,262 shares of the semiconductor company’s stock worth $382,000 after acquiring an additional 173 shares during the last quarter. Covestor Ltd increased its stake in Onsemi by 24.5% in the 1st quarter. Covestor Ltd now owns 965 shares of the semiconductor company’s stock valued at $71,000 after buying an additional 190 shares during the last quarter. Finally, Meridian Financial Partners LLC boosted its stake in shares of Onsemi by 1.7% in the 3rd quarter. Meridian Financial Partners LLC now owns 11,305 shares of the semiconductor company’s stock worth $821,000 after buying an additional 192 shares during the last quarter. 97.70% of the stock is currently owned by institutional investors.

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.