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onsemi Q3 Preview: Double-Digit Earnings Growth in Store?
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The Zacks Computer and Technology sector has tumbled in 2022 amid a hawkish pivot from the Fed, down more than 30% and widely underperforming the S&P 500.
A big-time player in the realm, onsemi (ON - Free Report) , also known as ON Semiconductor, is on deck to unveil quarterly results before the market open on October 31st.
ON Semiconductor is an original equipment manufacturer of a broad range of discrete and embedded semiconductor components. Spun off from Motorola in 1999, the company performed its IPO in May 2000.
Currently, the semiconductor giant carries a Zacks Rank #4 (Sell) paired with an overall VGM Score of a B.
Let’s dive deeper into how onsemi stacks up heading into its print.
Share Performance & Valuation
ON shares have been a bright spot in an otherwise dim market for semiconductor stocks, down roughly 5% and easily outperforming the S&P 500.
Image Source: Zacks Investment Research
Over the last three months, ON shares have continued on their market-beating trajectory, up a marginal 0.2%.
Image Source: Zacks Investment Research
ON Semiconductor shares appear fairly priced; the company’s 13.2X forward earnings multiple is nicely below its 14.3X five-year median, representing a 38% discount relative to its Zacks Computer and Technology sector.
The company carries a Style Score of a C for Value.
Image Source: Zacks Investment Research
Quarterly Estimates
A singular analyst has lowered their earnings outlook for the quarter to be reported. Still, the Zacks Consensus EPS Estimate of $1.31 suggests Y/Y earnings growth of a double-digit 50%.
Image Source: Zacks Investment Research
ON’s top-line is also in solid health; the Zacks Consensus Sales Estimate of $2.1 billion suggests Y/Y revenue growth of more than 20%.
Quarterly Performance & Market Reactions
ON carries a blazing-hot earnings track record, exceeding both revenue and earnings estimates in nine consecutive quarters.
Just in its latest print, the semiconductor giant posted a 6.4% bottom-line beat and a 3.4% revenue beat.
Image Source: Zacks Investment Research
The market has primarily cheered on the company’s quarterly results, with shares moving upward following four of its last five prints.
Putting Everything Together
ON shares have been notably stronger than the general market YTD, outperforming the S&P 500 across several timeframes.
Shares appear fairly priced, with the company’s forward earnings multiple below its five-year median and Zacks Sector average.
A singular analyst has lowered their quarterly outlook, with estimates suggesting Y/Y upticks in both revenue and earnings.
The company has consistently exceeded quarterly estimates, and the market has liked what it’s seen from ON across the majority of its last five releases.
Heading into the print, onsemi (ON - Free Report) carries a Zacks Rank #4 (Sell) with an Earnings ESP Score of -0.4%.
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onsemi Q3 Preview: Double-Digit Earnings Growth in Store?
The Zacks Computer and Technology sector has tumbled in 2022 amid a hawkish pivot from the Fed, down more than 30% and widely underperforming the S&P 500.
A big-time player in the realm, onsemi (ON - Free Report) , also known as ON Semiconductor, is on deck to unveil quarterly results before the market open on October 31st.
ON Semiconductor is an original equipment manufacturer of a broad range of discrete and embedded semiconductor components. Spun off from Motorola in 1999, the company performed its IPO in May 2000.
Currently, the semiconductor giant carries a Zacks Rank #4 (Sell) paired with an overall VGM Score of a B.
Let’s dive deeper into how onsemi stacks up heading into its print.
Share Performance & Valuation
ON shares have been a bright spot in an otherwise dim market for semiconductor stocks, down roughly 5% and easily outperforming the S&P 500.
Image Source: Zacks Investment Research
Over the last three months, ON shares have continued on their market-beating trajectory, up a marginal 0.2%.
Image Source: Zacks Investment Research
ON Semiconductor shares appear fairly priced; the company’s 13.2X forward earnings multiple is nicely below its 14.3X five-year median, representing a 38% discount relative to its Zacks Computer and Technology sector.
The company carries a Style Score of a C for Value.
Image Source: Zacks Investment Research
Quarterly Estimates
A singular analyst has lowered their earnings outlook for the quarter to be reported. Still, the Zacks Consensus EPS Estimate of $1.31 suggests Y/Y earnings growth of a double-digit 50%.
Image Source: Zacks Investment Research
ON’s top-line is also in solid health; the Zacks Consensus Sales Estimate of $2.1 billion suggests Y/Y revenue growth of more than 20%.
Quarterly Performance & Market Reactions
ON carries a blazing-hot earnings track record, exceeding both revenue and earnings estimates in nine consecutive quarters.
Just in its latest print, the semiconductor giant posted a 6.4% bottom-line beat and a 3.4% revenue beat.
Image Source: Zacks Investment Research
The market has primarily cheered on the company’s quarterly results, with shares moving upward following four of its last five prints.
Putting Everything Together
ON shares have been notably stronger than the general market YTD, outperforming the S&P 500 across several timeframes.
Shares appear fairly priced, with the company’s forward earnings multiple below its five-year median and Zacks Sector average.
A singular analyst has lowered their quarterly outlook, with estimates suggesting Y/Y upticks in both revenue and earnings.
The company has consistently exceeded quarterly estimates, and the market has liked what it’s seen from ON across the majority of its last five releases.
Heading into the print, onsemi (ON - Free Report) carries a Zacks Rank #4 (Sell) with an Earnings ESP Score of -0.4%.