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ON Semiconductor Corp. (ON) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, ON Semiconductor Corp. (ON - Free Report) closed at $60.94, marking a -1.69% move from the previous day. This change lagged the S&P 500's 1.14% loss on the day. Meanwhile, the Dow lost 1.23%, and the Nasdaq, a tech-heavy index, lost 0.36%.
Prior to today's trading, shares of the semiconductor components maker had lost 2.13% over the past month. This has was narrower than the Computer and Technology sector's loss of 4.36% and lagged the S&P 500's loss of 1.37% in that time.
ON Semiconductor Corp. will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.94, up 168.57% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.79 billion, up 23.84% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.80 per share and revenue of $6.68 billion, which would represent changes of +229.41% and +27.21%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for ON Semiconductor Corp.These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. currently has a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, ON Semiconductor Corp. is holding a Forward P/E ratio of 22.17. This represents a discount compared to its industry's average Forward P/E of 24.3.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 6, putting it in the top 3% 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.
To follow ON in the coming trading sessions, be sure to utilize Zacks.com.
View the Zacks #1 Rank List
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ON Semiconductor Corp. (ON) Dips More Than Broader Markets: What You Should Know
In the latest trading session, ON Semiconductor Corp. (ON - Free Report) closed at $60.94, marking a -1.69% move from the previous day. This change lagged the S&P 500's 1.14% loss on the day. Meanwhile, the Dow lost 1.23%, and the Nasdaq, a tech-heavy index, lost 0.36%.
Prior to today's trading, shares of the semiconductor components maker had lost 2.13% over the past month. This has was narrower than the Computer and Technology sector's loss of 4.36% and lagged the S&P 500's loss of 1.37% in that time.
ON Semiconductor Corp. will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.94, up 168.57% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.79 billion, up 23.84% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.80 per share and revenue of $6.68 billion, which would represent changes of +229.41% and +27.21%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for ON Semiconductor Corp.These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. currently has a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, ON Semiconductor Corp. is holding a Forward P/E ratio of 22.17. This represents a discount compared to its industry's average Forward P/E of 24.3.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 6, putting it in the top 3% 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.
To follow ON in the coming trading sessions, be sure to utilize Zacks.com.