Onsemi (ON) Set to Announce Quarterly Earnings on Monday

Onsemi (NASDAQ:ON) will be announcing its earnings results before the market opens on Monday, April 29th. Analysts expect the company to announce earnings of $1.05 per share for the quarter. Onsemi has set its Q1 guidance at $0.98-1.10 EPS and its Q1 2024 guidance at 0.980-1.100 EPS.Investors that are interested in participating in the company’s conference call can do so using this link.

Onsemi (NASDAQ:ON) last released its earnings results on Monday, February 5th. The semiconductor company reported $1.25 EPS for the quarter, beating the consensus estimate of $1.21 by $0.04. Onsemi had a net margin of 26.46% and a return on equity of 31.36%. The firm had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2 billion. During the same period last year, the firm earned $1.32 EPS. The business’s quarterly revenue was down 4.1% compared to the same quarter last year. On average, analysts expect Onsemi to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Onsemi Price Performance

ON stock opened at $68.06 on Friday. The company has a quick ratio of 1.74, a current ratio of 2.71 and a debt-to-equity ratio of 0.33. Onsemi has a 12 month low of $59.34 and a 12 month high of $111.35. The firm has a market cap of $29.26 billion, a P/E ratio of 13.92, a P/E/G ratio of 6.55 and a beta of 1.80. The company’s 50-day moving average price is $73.11 and its two-hundred day moving average price is $75.55.

Analysts Set New Price Targets

ON has been the topic of several recent analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $92.00 target price on shares of Onsemi in a report on Tuesday, February 6th. Evercore ISI assumed coverage on shares of Onsemi in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $104.00 price target on the stock. KeyCorp raised their price target on shares of Onsemi from $95.00 to $100.00 and gave the company an “overweight” rating in a research note on Tuesday, February 6th. Mizuho reduced their price target on shares of Onsemi from $98.00 to $92.00 and set a “buy” rating on the stock in a research note on Tuesday, February 6th. Finally, Morgan Stanley reduced their price target on shares of Onsemi from $80.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Monday, April 22nd. One analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.28.

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.