Onsemi Expected to Post Q2 2024 Earnings of $0.92 Per Share (NASDAQ:ON)

Onsemi (NASDAQ:ON) – Analysts at Roth Capital cut their Q2 2024 earnings estimates for shares of Onsemi in a note issued to investors on Monday, April 29th. Roth Capital analyst S. Desilva now forecasts that the semiconductor company will post earnings of $0.92 per share for the quarter, down from their previous forecast of $1.01. The consensus estimate for Onsemi’s current full-year earnings is $4.23 per share. Roth Capital also issued estimates for Onsemi’s Q3 2024 earnings at $0.95 EPS, Q4 2024 earnings at $1.04 EPS, FY2024 earnings at $3.99 EPS, Q1 2025 earnings at $1.07 EPS, Q2 2025 earnings at $1.17 EPS, Q3 2025 earnings at $1.29 EPS, Q4 2025 earnings at $1.34 EPS and FY2025 earnings at $4.87 EPS.

Other equities research analysts also recently issued reports about the company. Mizuho lowered their price target on Onsemi from $92.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday. B. Riley reissued a “buy” rating and set a $103.00 target price (down from $115.00) on shares of Onsemi in a research note on Tuesday. Susquehanna cut their price target on shares of Onsemi from $90.00 to $85.00 and set a “positive” rating on the stock in a research note on Tuesday. JPMorgan Chase & Co. lowered their price objective on shares of Onsemi from $95.00 to $90.00 and set a “neutral” rating for the company in a research report on Tuesday, February 6th. Finally, Stifel Nicolaus dropped their price objective on shares of Onsemi from $82.00 to $72.00 and set a “hold” rating on the stock in a report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $90.24.

Onsemi Stock Performance

ON stock opened at $69.01 on Wednesday. Onsemi has a twelve month low of $59.34 and a twelve month high of $111.35. The company has a quick ratio of 1.74, a current ratio of 2.87 and a debt-to-equity ratio of 0.32. The company has a market cap of $29.66 billion, a P/E ratio of 14.21, a price-to-earnings-growth ratio of 7.03 and a beta of 1.80. The business’s fifty day moving average is $72.80 and its 200-day moving average is $74.99.

Onsemi (NASDAQ:ON) last posted its quarterly earnings results on Monday, April 29th. The semiconductor company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04. Onsemi had a net margin of 26.67% and a return on equity of 28.86%. The business had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same period in the previous year, the firm posted $1.19 earnings per share. Onsemi’s revenue for the quarter was down 4.9% compared to the same quarter last year.

Hedge Funds Weigh In On Onsemi

Institutional investors have recently added to or reduced their stakes in the business. Integrated Advisors Network LLC increased its holdings in shares of Onsemi by 1.7% during the fourth quarter. Integrated Advisors Network LLC now owns 9,715 shares of the semiconductor company’s stock valued at $811,000 after acquiring an additional 164 shares in the last quarter. Lindbrook Capital LLC raised its holdings in Onsemi by 10.8% during the third quarter. Lindbrook Capital LLC now owns 1,773 shares of the semiconductor company’s stock worth $165,000 after buying an additional 173 shares during the last quarter. Perigon Wealth Management LLC lifted its stake in shares of Onsemi by 7.7% in the fourth quarter. Perigon Wealth Management LLC now owns 2,463 shares of the semiconductor company’s stock valued at $206,000 after buying an additional 177 shares in the last quarter. STF Management LP grew its holdings in shares of Onsemi by 2.5% during the fourth quarter. STF Management LP now owns 7,209 shares of the semiconductor company’s stock valued at $602,000 after buying an additional 178 shares during the last quarter. Finally, Quent Capital LLC grew its holdings in shares of Onsemi by 25.3% during the fourth quarter. Quent Capital LLC now owns 980 shares of the semiconductor company’s stock valued at $82,000 after buying an additional 198 shares during the last quarter. 97.70% of the stock is owned by institutional investors and hedge funds.

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.