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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 at $66.59 in the latest trading session, marking a +1.9% move from the prior day. This change outpaced the S&P 500's 1.63% gain on the day. Meanwhile, the Dow gained 1.07%, and the Nasdaq, a tech-heavy index, added 0.3%.
Prior to today's trading, shares of the semiconductor components maker had gained 4.23% over the past month. This has outpaced the Computer and Technology sector's gain of 0.92% and the S&P 500's gain of 2.94% in that time.
ON Semiconductor Corp. will be looking to display strength as it nears its next earnings release, which is expected to be October 31, 2022. In that report, analysts expect ON Semiconductor Corp. to post earnings of $1.31 per share. This would mark year-over-year growth of 50.57%. Meanwhile, our latest consensus estimate is calling for revenue of $2.12 billion, up 21.75% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.12 per share and revenue of $8.25 billion. These totals would mark changes of +73.56% and +22.47%, 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 such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 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 0.12% lower. ON Semiconductor Corp. is currently a Zacks Rank #4 (Sell).
Valuation is also important, so investors should note that ON Semiconductor Corp. has a Forward P/E ratio of 12.76 right now. This valuation marks a discount compared to its industry's average Forward P/E of 14.05.
Investors should also note that ON has a PEG ratio of 0.5 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Semiconductor - Analog and Mixed industry currently had an average PEG ratio of 0.73 as of yesterday's close.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 202, which puts it in the bottom 20% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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) Outpaces Stock Market Gains: What You Should Know
ON Semiconductor Corp. (ON - Free Report) closed at $66.59 in the latest trading session, marking a +1.9% move from the prior day. This change outpaced the S&P 500's 1.63% gain on the day. Meanwhile, the Dow gained 1.07%, and the Nasdaq, a tech-heavy index, added 0.3%.
Prior to today's trading, shares of the semiconductor components maker had gained 4.23% over the past month. This has outpaced the Computer and Technology sector's gain of 0.92% and the S&P 500's gain of 2.94% in that time.
ON Semiconductor Corp. will be looking to display strength as it nears its next earnings release, which is expected to be October 31, 2022. In that report, analysts expect ON Semiconductor Corp. to post earnings of $1.31 per share. This would mark year-over-year growth of 50.57%. Meanwhile, our latest consensus estimate is calling for revenue of $2.12 billion, up 21.75% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.12 per share and revenue of $8.25 billion. These totals would mark changes of +73.56% and +22.47%, 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 such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 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 0.12% lower. ON Semiconductor Corp. is currently a Zacks Rank #4 (Sell).
Valuation is also important, so investors should note that ON Semiconductor Corp. has a Forward P/E ratio of 12.76 right now. This valuation marks a discount compared to its industry's average Forward P/E of 14.05.
Investors should also note that ON has a PEG ratio of 0.5 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Semiconductor - Analog and Mixed industry currently had an average PEG ratio of 0.73 as of yesterday's close.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 202, which puts it in the bottom 20% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.