Onsemi Expected to Earn Q2 2024 Earnings of $0.92 Per Share (NASDAQ:ON)

Onsemi (NASDAQ:ON) – Research analysts at Zacks Research decreased their Q2 2024 EPS estimates for shares of Onsemi in a research report issued on Monday, May 20th. Zacks Research analyst A. Ganguly now expects that the semiconductor company will post earnings per share of $0.92 for the quarter, down from their previous estimate of $1.03. The consensus estimate for Onsemi’s current full-year earnings is $3.83 per share. Zacks Research also issued estimates for Onsemi’s Q3 2024 earnings at $0.98 EPS, Q4 2024 earnings at $1.04 EPS, FY2024 earnings at $4.02 EPS, Q1 2025 earnings at $1.06 EPS, Q2 2025 earnings at $1.10 EPS, Q3 2025 earnings at $1.18 EPS, Q4 2025 earnings at $1.33 EPS, FY2025 earnings at $4.66 EPS, Q1 2026 earnings at $1.27 EPS and FY2026 earnings at $5.62 EPS.

A number of other analysts also recently issued reports on ON. Jefferies Financial Group assumed coverage on Onsemi in a research report on Monday, May 13th. They issued a “buy” rating and a $100.00 target price for the company. Stifel Nicolaus dropped their price objective on shares of Onsemi from $82.00 to $72.00 and set a “hold” rating on the stock in a report on Thursday, April 18th. Morgan Stanley reduced their target price on shares of Onsemi from $80.00 to $70.00 and set an “equal weight” rating for the company in a research note on Monday, April 22nd. KeyCorp dropped their price target on shares of Onsemi from $100.00 to $90.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 30th. Finally, Roth Mkm lifted their price objective on shares of Onsemi from $75.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, Onsemi currently has an average rating of “Moderate Buy” and an average target price of $90.28.

Onsemi Trading Up 4.8 %

NASDAQ ON opened at $76.29 on Tuesday. The business’s fifty day moving average is $70.57 and its 200-day moving average is $74.21. 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 $32.82 billion, a price-to-earnings ratio of 15.57, a PEG ratio of 3.38 and a beta of 1.78. Onsemi has a one year low of $59.34 and a one year high of $111.35.

Onsemi (NASDAQ:ON) last issued its quarterly earnings data on Monday, April 29th. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04. Onsemi had a net margin of 26.67% and a return on equity of 28.86%. The business had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same period in the prior year, the firm posted $1.19 EPS. The firm’s quarterly revenue was down 4.9% compared to the same quarter last year.

Institutional Investors Weigh In On Onsemi

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ON. Integrated Advisors Network LLC boosted its position in shares of Onsemi by 1.7% in the 4th quarter. Integrated Advisors Network LLC now owns 9,715 shares of the semiconductor company’s stock worth $811,000 after purchasing an additional 164 shares in the last quarter. Perigon Wealth Management LLC boosted its holdings in Onsemi by 7.7% in the fourth quarter. Perigon Wealth Management LLC now owns 2,463 shares of the semiconductor company’s stock worth $206,000 after acquiring an additional 177 shares in the last quarter. STF Management LP grew its stake in shares of Onsemi by 2.5% in the fourth quarter. STF Management LP now owns 7,209 shares of the semiconductor company’s stock worth $602,000 after acquiring an additional 178 shares during the last quarter. Covestor Ltd increased its holdings in shares of Onsemi by 24.5% during the first quarter. Covestor Ltd now owns 965 shares of the semiconductor company’s stock valued at $71,000 after acquiring an additional 190 shares in the last quarter. Finally, Quent Capital LLC raised its position in shares of Onsemi by 25.3% in the 4th quarter. Quent Capital LLC now owns 980 shares of the semiconductor company’s stock worth $82,000 after purchasing an additional 198 shares during the last quarter. 97.70% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Paul Anthony Mascarenas sold 911 shares of the firm’s stock in a transaction on 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.31% of the company’s stock.

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.