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ON Semiconductor Corp. (ON) Gains As Market Dips: What You Should Know
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In the latest trading session, ON Semiconductor Corp. (ON - Free Report) closed at $62.98, marking a +0.64% move from the previous day. This change outpaced the S&P 500's 0.75% loss on the day. At the same time, the Dow lost 0.3%, and the tech-heavy Nasdaq lost 0.23%.
Coming into today, shares of the semiconductor components maker had gained 5.71% in the past month. In that same time, the Computer and Technology sector lost 2.28%, while the S&P 500 lost 0.13%.
Investors will be hoping for strength from ON Semiconductor Corp. as it approaches its next earnings release. On that day, ON Semiconductor Corp. is projected to report earnings of $0.94 per share, which would represent year-over-year growth of 168.57%. Meanwhile, our latest consensus estimate is calling for revenue of $1.79 billion, up 23.84% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.80 per share and revenue of $6.68 billion. These totals would mark changes of +229.41% and +27.21%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for ON Semiconductor Corp.These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. ON Semiconductor Corp. is currently a Zacks Rank #1 (Strong Buy).
Digging into valuation, ON Semiconductor Corp. currently has a Forward P/E ratio of 22.39. Its industry sports an average Forward P/E of 23.68, so we one might conclude that ON Semiconductor Corp. is trading at a discount comparatively.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 17, putting it in the top 7% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
View the Zacks #1 Rank List
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ON Semiconductor Corp. (ON) Gains As Market Dips: What You Should Know
In the latest trading session, ON Semiconductor Corp. (ON - Free Report) closed at $62.98, marking a +0.64% move from the previous day. This change outpaced the S&P 500's 0.75% loss on the day. At the same time, the Dow lost 0.3%, and the tech-heavy Nasdaq lost 0.23%.
Coming into today, shares of the semiconductor components maker had gained 5.71% in the past month. In that same time, the Computer and Technology sector lost 2.28%, while the S&P 500 lost 0.13%.
Investors will be hoping for strength from ON Semiconductor Corp. as it approaches its next earnings release. On that day, ON Semiconductor Corp. is projected to report earnings of $0.94 per share, which would represent year-over-year growth of 168.57%. Meanwhile, our latest consensus estimate is calling for revenue of $1.79 billion, up 23.84% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.80 per share and revenue of $6.68 billion. These totals would mark changes of +229.41% and +27.21%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for ON Semiconductor Corp.These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. ON Semiconductor Corp. is currently a Zacks Rank #1 (Strong Buy).
Digging into valuation, ON Semiconductor Corp. currently has a Forward P/E ratio of 22.39. Its industry sports an average Forward P/E of 23.68, so we one might conclude that ON Semiconductor Corp. is trading at a discount comparatively.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 17, putting it in the top 7% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.