Onsemi (ON) Scheduled to Post Quarterly Earnings on Monday

Onsemi (NASDAQ:ON) will post its quarterly earnings results before the market opens on Monday, July 29th. Analysts expect Onsemi to post earnings of $0.93 per share for the quarter. Onsemi has set its Q2 guidance at $0.86-0.98 EPS and its Q2 2024 guidance at 0.860-0.980 EPS.Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Onsemi (NASDAQ:ON) last issued its quarterly earnings results on Monday, April 29th. The semiconductor company reported $1.08 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.85 billion. During the same quarter last year, the company posted $1.19 earnings per share. The company’s quarterly revenue was down 4.9% 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 Stock Performance

Shares of ON stock opened at $70.17 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.87 and a current ratio of 2.87. Onsemi has a one year low of $59.34 and a one year high of $111.35. The company’s 50-day simple moving average is $72.55 and its 200-day simple moving average is $73.18. The stock has a market capitalization of $30.19 billion, a price-to-earnings ratio of 14.32, a PEG ratio of 2.93 and a beta of 1.69.

Insider Activity at Onsemi

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

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Truist Financial reduced their price target on shares of Onsemi from $89.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, April 30th. Evercore ISI assumed coverage on shares of Onsemi in a report on Tuesday, April 16th. They issued an “outperform” rating and a $104.00 target price on the stock. B. Riley reissued a “buy” rating and issued a $103.00 target price (down previously from $115.00) on shares of Onsemi in a report on Tuesday, April 30th. Mizuho cut their target price on shares of Onsemi from $92.00 to $87.00 and set a “buy” rating on the stock in a report on Tuesday, April 30th. Finally, TD Cowen cut their target price on shares of Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, April 30th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $88.36.

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.