Onsemi (NASDAQ:ON) Issues Quarterly Earnings Results

Onsemi (NASDAQ:ON) issued its earnings results on Monday. The semiconductor company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.02, Briefing.com reports. The business had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.75 billion. Onsemi had a net margin of 24.84% and a return on equity of 25.48%. The company’s quarterly revenue was down 19.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.39 earnings per share. Onsemi updated its Q4 guidance to $0.92-1.04 EPS and its Q4 2024 guidance to 0.920-1.040 EPS.

Onsemi Price Performance

ON opened at $74.70 on Wednesday. The stock’s 50-day moving average price is $71.49 and its 200 day moving average price is $71.48. Onsemi has a 12-month low of $59.34 and a 12-month high of $86.77. The firm has a market cap of $32.00 billion, a price-to-earnings ratio of 18.54, a PEG ratio of 3.82 and a beta of 1.65. The company has a current ratio of 3.01, a quick ratio of 1.95 and a debt-to-equity ratio of 0.31.

Insider Buying and Selling at Onsemi

In related news, CEO Hassane El-Khoury sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $72.71, for a total transaction of $109,065.00. Following the sale, the chief executive officer now directly owns 839,210 shares of the company’s stock, valued at $61,018,959.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.31% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ON. Citigroup downgraded shares of Onsemi from a “buy” rating to a “neutral” rating and cut their price objective for the company from $85.00 to $77.00 in a report on Monday, July 15th. Mizuho set a $85.00 price target on Onsemi in a report on Friday, October 18th. Roth Mkm boosted their price objective on Onsemi from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. KeyCorp cut their target price on Onsemi from $95.00 to $90.00 and set an “overweight” rating for the company in a research note on Tuesday, October 8th. Finally, Bank of America boosted their price target on shares of Onsemi from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Onsemi presently has a consensus rating of “Moderate Buy” and an average target price of $85.57.

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.