Brokerages forecast that ON Semiconductor Corp (NASDAQ:ON) will post $1.38 billion in sales for the current quarter, Zacks reports. Nine analysts have made estimates for ON Semiconductor’s earnings, with the lowest sales estimate coming in at $1.36 billion and the highest estimate coming in at $1.40 billion. ON Semiconductor posted sales of $1.46 billion in the same quarter last year, which suggests a negative year-over-year growth rate of 5.5%. The firm is scheduled to announce its next quarterly earnings results on Monday, July 29th.
According to Zacks, analysts expect that ON Semiconductor will report full year sales of $5.65 billion for the current financial year, with estimates ranging from $5.52 billion to $5.81 billion. For the next fiscal year, analysts anticipate that the company will report sales of $5.94 billion, with estimates ranging from $5.61 billion to $6.16 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for ON Semiconductor.
ON Semiconductor (NASDAQ:ON) last announced its quarterly earnings results on Saturday, April 27th. The semiconductor company reported $0.43 EPS for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.03. ON Semiconductor had a net margin of 10.22% and a return on equity of 26.54%. The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same quarter in the prior year, the business earned $0.31 EPS. ON Semiconductor’s quarterly revenue was up .7% on a year-over-year basis.
ON has been the topic of several analyst reports. ValuEngine upgraded shares of Zogenix from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 27th. Loop Capital reiterated a “hold” rating and set a $76.00 price target on shares of Power Integrations in a research report on Tuesday, June 18th. Mizuho reduced their price target on shares of Veoneer from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, April 30th. Jefferies Financial Group reduced their price target on shares of CommVault Systems to $65.00 and set a “buy” rating on the stock in a research report on Tuesday, April 30th. They noted that the move was a valuation call. Finally, Goldman Sachs Group increased their price target on shares of Western Digital from $42.00 to $49.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 27th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $25.11.
Shares of NASDAQ:ON traded down $0.04 on Thursday, reaching $19.65. 233,127 shares of the company’s stock were exchanged, compared to its average volume of 6,843,407. The company’s fifty day moving average price is $19.17. ON Semiconductor has a twelve month low of $14.55 and a twelve month high of $24.31. The firm has a market cap of $8.05 billion, a P/E ratio of 9.99, a price-to-earnings-growth ratio of 1.72 and a beta of 2.17. The company has a quick ratio of 1.38, a current ratio of 2.31 and a debt-to-equity ratio of 0.82.
In other news, EVP Vince Craig Hopkin sold 3,000 shares of the stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $19.81, for a total transaction of $59,430.00. Following the completion of the sale, the executive vice president now directly owns 91,049 shares in the company, valued at $1,803,680.69. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Bernard Raymond Colpitts, Jr. sold 3,069 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $23.04, for a total transaction of $70,709.76. The disclosure for this sale can be found here. Insiders have sold 24,800 shares of company stock valued at $543,480 in the last ninety days. Insiders own 1.40% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Norges Bank acquired a new stake in ON Semiconductor in the fourth quarter worth $76,075,000. Millennium Management LLC grew its holdings in ON Semiconductor by 1,917.0% in the fourth quarter. Millennium Management LLC now owns 3,215,704 shares of the semiconductor company’s stock worth $53,091,000 after purchasing an additional 3,056,275 shares during the period. Lakewood Capital Management LP grew its holdings in ON Semiconductor by 263.7% in the fourth quarter. Lakewood Capital Management LP now owns 1,655,051 shares of the semiconductor company’s stock worth $27,325,000 after purchasing an additional 1,200,000 shares during the period. Boussard & Gavaudan Investment Management LLP acquired a new stake in ON Semiconductor in the first quarter worth $21,517,000. Finally, Dimensional Fund Advisors LP grew its holdings in ON Semiconductor by 12.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,780,073 shares of the semiconductor company’s stock worth $128,449,000 after purchasing an additional 881,265 shares during the period. Institutional investors own 96.20% of the company’s stock.
ON Semiconductor Company Profile
ON Semiconductor Corporation manufactures and sells semiconductor components for various electronic devices worldwide. The company operates in three segments: Power Solutions Group, Analog Solutions Group, and Intelligent Sensing Group. The Power Solutions Group segment offers discrete, module, and integrated semiconductor products for various applications, such as power switching and conversion, signal conditioning, circuit protection, signal amplification, and voltage reference.
See Also: Convertible Shares
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for ON Semiconductor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ON Semiconductor and related companies with MarketBeat.com's FREE daily email newsletter.