Onsemi (NASDAQ:ON) Issues Q3 Earnings Guidance

Onsemi (NASDAQ:ON) updated its third quarter earnings guidance on Monday. The company provided EPS guidance of $0.91-1.03 for the period, compared to the consensus EPS estimate of $0.97. The company issued revenue guidance of $1.70-1.80 billion, compared to the consensus revenue estimate of $1.78 billion. Onsemi also updated its Q3 2024 guidance to 0.910-1.030 EPS.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ON. Rosenblatt Securities increased their price target on Onsemi from $70.00 to $75.00 and gave the stock a neutral rating in a report on Tuesday. TD Cowen increased their price target on Onsemi from $85.00 to $90.00 and gave the stock a buy rating in a report on Tuesday. Truist Financial increased their price target on Onsemi from $85.00 to $97.00 and gave the stock a buy rating in a report on Tuesday. Evercore ISI started coverage on Onsemi in a report on Tuesday, April 16th. They set an outperform rating and a $104.00 price target for the company. Finally, BNP Paribas reiterated an underperform rating and issued a $55.00 price objective on shares of Onsemi in a research report on Friday, April 19th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, Onsemi has a consensus rating of Hold and a consensus price target of $88.56.

Onsemi Stock Down 5.5 %

ON opened at $73.97 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.87 and a quick ratio of 1.87. The stock has a market capitalization of $31.82 billion, a price-to-earnings ratio of 15.10, a price-to-earnings-growth ratio of 3.40 and a beta of 1.69. The business has a 50-day moving average of $72.65 and a two-hundred day moving average of $73.19. Onsemi has a 12 month low of $59.34 and a 12 month high of $111.35.

Onsemi (NASDAQ:ON) last posted its quarterly earnings results on Monday, July 29th. The semiconductor company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.92 by $0.04. The company had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Onsemi had a return on equity of 25.92% and a net margin of 24.84%. The firm’s revenue was down 17.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.33 EPS. On average, research analysts expect that Onsemi will post 4.02 earnings per share for the current year.

Insider Buying and Selling at Onsemi

In other news, Director Paul Anthony Mascarenas sold 911 shares of the company’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $74.46, for a total value of $67,833.06. Following the completion of the sale, the director now owns 48,929 shares of the company’s stock, valued at $3,643,253.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO Trent Thad sold 38,000 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $72.55, for a total transaction of $2,756,900.00. Following the transaction, the chief financial officer now directly owns 331,829 shares in the company, valued at $24,074,193.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paul Anthony Mascarenas sold 911 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $74.46, for a total transaction of $67,833.06. Following the sale, the director now owns 48,929 shares of the company’s stock, valued at approximately $3,643,253.34. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by corporate insiders.

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.