Onsemi (NASDAQ:ON) Updates Q4 2024 Earnings Guidance

Onsemi (NASDAQ:ON) issued an update on its fourth quarter 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of 0.920-1.040 for the period, compared to the consensus earnings per share estimate of 1.000. The company issued revenue guidance of $1.7 billion-$1.8 billion. Onsemi also updated its Q4 guidance to $0.92-1.04 EPS.

Onsemi Stock Performance

Shares of ON stock opened at $73.39 on Monday. The stock has a market capitalization of $31.57 billion, a price-to-earnings ratio of 14.54, a PEG ratio of 3.57 and a beta of 1.65. Onsemi has a one year low of $59.34 and a one year high of $86.77. The company’s 50-day simple moving average is $71.63 and its 200-day simple moving average is $71.41. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.95 and a current ratio of 3.01.

Onsemi (NASDAQ:ON) last released its earnings results on Monday, July 29th. The semiconductor company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. Onsemi had a return on equity of 25.48% and a net margin of 24.84%. The company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter last year, the business posted $1.33 EPS. Onsemi’s quarterly revenue was down 17.2% compared to the same quarter last year. Equities analysts anticipate that Onsemi will post 4.01 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ON shares. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Onsemi from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Mizuho set a $85.00 price objective on shares of Onsemi in a research report on Friday, October 18th. Truist Financial raised their target price on shares of Onsemi from $85.00 to $97.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Morgan Stanley lowered Onsemi from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $70.00 to $65.00 in a report on Thursday, July 11th. Finally, Bank of America raised their price target on Onsemi from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $85.74.

Insider Buying and Selling

In other news, insider Simon Keeton sold 30,939 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $77.94, for a total value of $2,411,385.66. Following the completion of the sale, the insider now owns 231,092 shares in the company, valued at $18,011,310.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Hassane El-Khoury sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $70.80, for a total transaction of $106,200.00. Following the completion of the sale, the chief executive officer now directly owns 840,620 shares in the company, valued at approximately $59,515,896. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Simon Keeton sold 30,939 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $77.94, for a total value of $2,411,385.66. Following the completion of the transaction, the insider now directly owns 231,092 shares in the company, valued at $18,011,310.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,939 shares of company stock valued at $2,626,651 over the last quarter. Corporate insiders own 0.31% of the company’s stock.

Onsemi Company Profile

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.