Onsemi (NASDAQ:ON) Issues Earnings Results

Onsemi (NASDAQ:ON) announced its quarterly earnings results on Monday. The semiconductor company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.92 by $0.04, Briefing.com reports. Onsemi had a return on equity of 25.92% 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 company posted $1.33 earnings per share. The company’s revenue for the quarter was down 17.2% compared to the same quarter last year. Onsemi updated its Q3 guidance to $0.91-1.03 EPS and its Q3 2024 guidance to 0.910-1.030 EPS.

Onsemi Stock Performance

Onsemi stock opened at $75.93 on Wednesday. The company has a market cap of $32.67 billion, a PE ratio of 15.10, a PEG ratio of 3.40 and a beta of 1.69. The company has a current ratio of 2.87, a quick ratio of 1.87 and a debt-to-equity ratio of 0.32. Onsemi has a 1 year low of $59.34 and a 1 year high of $111.35. The company’s 50-day moving average is $72.65 and its two-hundred day moving average is $73.19.

Insider Transactions at Onsemi

In other Onsemi 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 value of $67,833.06. Following the transaction, the director now directly 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 SEC, which is available through this hyperlink. In related news, Director Paul Anthony Mascarenas sold 911 shares of Onsemi 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 of the company’s stock, valued at approximately $3,643,253.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Trent Thad sold 38,000 shares of the 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 completion of the sale, the chief financial officer now owns 331,829 shares in the company, valued at $24,074,193.95. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ON. Roth Mkm upped their price target on Onsemi from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday. Truist Financial boosted their price objective on shares of Onsemi from $85.00 to $97.00 and gave the stock a “buy” rating in a report on Tuesday. Susquehanna boosted their price target on Onsemi from $85.00 to $95.00 and gave the company a “positive” rating in a research note on Wednesday, July 17th. Evercore ISI started coverage on Onsemi in a report on Tuesday, April 16th. They set an “outperform” rating and a $104.00 price objective on the stock. Finally, StockNews.com cut Onsemi from a “hold” rating to a “sell” rating in a research report on Tuesday. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $88.56.

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.