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ON Semiconductor Corp. (ON) Outpaces Stock Market Gains: What You Should Know
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ON Semiconductor Corp. (ON - Free Report) closed the most recent trading day at $68.93, moving +0.89% from the previous trading session. This change outpaced the S&P 500's 0.14% gain on the day. Meanwhile, the Dow gained 0.25%, and the Nasdaq, a tech-heavy index, lost 0.33%.
Heading into today, shares of the semiconductor components maker had gained 11.22% over the past month, outpacing the Computer and Technology sector's gain of 2.85% and the S&P 500's gain of 4.32% in that time.
Wall Street will be looking for positivity from ON Semiconductor Corp. as it approaches its next earnings report date. The company is expected to report EPS of $0.94, up 168.57% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $1.79 billion, up 23.84% from the year-ago period.
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.Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 holding a Zacks Rank of #1 (Strong Buy) right now.
In terms of valuation, ON Semiconductor Corp. is currently trading at a Forward P/E ratio of 24.44. This represents a discount compared to its industry's average Forward P/E of 26.17.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 24, putting it in the top 10% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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) Outpaces Stock Market Gains: What You Should Know
ON Semiconductor Corp. (ON - Free Report) closed the most recent trading day at $68.93, moving +0.89% from the previous trading session. This change outpaced the S&P 500's 0.14% gain on the day. Meanwhile, the Dow gained 0.25%, and the Nasdaq, a tech-heavy index, lost 0.33%.
Heading into today, shares of the semiconductor components maker had gained 11.22% over the past month, outpacing the Computer and Technology sector's gain of 2.85% and the S&P 500's gain of 4.32% in that time.
Wall Street will be looking for positivity from ON Semiconductor Corp. as it approaches its next earnings report date. The company is expected to report EPS of $0.94, up 168.57% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $1.79 billion, up 23.84% from the year-ago period.
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.Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 holding a Zacks Rank of #1 (Strong Buy) right now.
In terms of valuation, ON Semiconductor Corp. is currently trading at a Forward P/E ratio of 24.44. This represents a discount compared to its industry's average Forward P/E of 26.17.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 24, putting it in the top 10% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.