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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 $57.63, marking a -1.37% move from the previous day. This change lagged the S&P 500's 0.43% loss on the day. At the same time, the Dow lost 0.34%, and the tech-heavy Nasdaq lost 0.62%.
Heading into today, shares of the semiconductor components maker had lost 12.9% over the past month, lagging the Computer and Technology sector's loss of 9.41% and the S&P 500's loss of 6.57% in that time.
Wall Street will be looking for positivity from ON Semiconductor Corp. as it approaches its next earnings report date. On that day, ON Semiconductor Corp. is projected to report earnings of $1.04 per share, which would represent year-over-year growth of 197.14%. Meanwhile, our latest consensus estimate is calling for revenue of $1.9 billion, up 28.29% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.16 per share and revenue of $7.66 billion, which would represent changes of +41.02% and +13.64%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for ON Semiconductor Corp.These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 7.27% higher. ON Semiconductor Corp. is holding a Zacks Rank of #1 (Strong Buy) right now.
Looking at its valuation, ON Semiconductor Corp. is holding a Forward P/E ratio of 14.05. For comparison, its industry has an average Forward P/E of 17.69, which means ON Semiconductor Corp. is trading at a discount to the group.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 19, which puts it in the top 8% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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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 $57.63, marking a -1.37% move from the previous day. This change lagged the S&P 500's 0.43% loss on the day. At the same time, the Dow lost 0.34%, and the tech-heavy Nasdaq lost 0.62%.
Heading into today, shares of the semiconductor components maker had lost 12.9% over the past month, lagging the Computer and Technology sector's loss of 9.41% and the S&P 500's loss of 6.57% in that time.
Wall Street will be looking for positivity from ON Semiconductor Corp. as it approaches its next earnings report date. On that day, ON Semiconductor Corp. is projected to report earnings of $1.04 per share, which would represent year-over-year growth of 197.14%. Meanwhile, our latest consensus estimate is calling for revenue of $1.9 billion, up 28.29% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.16 per share and revenue of $7.66 billion, which would represent changes of +41.02% and +13.64%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for ON Semiconductor Corp.These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 7.27% higher. ON Semiconductor Corp. is holding a Zacks Rank of #1 (Strong Buy) right now.
Looking at its valuation, ON Semiconductor Corp. is holding a Forward P/E ratio of 14.05. For comparison, its industry has an average Forward P/E of 17.69, which means ON Semiconductor Corp. is trading at a discount to the group.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 19, which puts it in the top 8% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.