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ON Semiconductor Corp. (ON) Gains As Market Dips: What You Should Know
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ON Semiconductor Corp. (ON - Free Report) closed the most recent trading day at $78.70, moving +1.67% from the previous trading session. This move outpaced the S&P 500's daily loss of 1.53%. At the same time, the Dow lost 1.72%, and the tech-heavy Nasdaq lost 3.27%.
Heading into today, shares of the semiconductor components maker had lost 3.72% over the past month, lagging the Computer and Technology sector's loss of 1.34% and the S&P 500's loss of 1.28% in that time.
Investors will be hoping for strength from ON Semiconductor Corp. as it approaches its next earnings release. In that report, analysts expect ON Semiconductor Corp. to post earnings of $1.09 per share. This would mark a year-over-year decline of 10.66%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.92 billion, down 1.22% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.42 per share and revenue of $7.84 billion. These totals would mark changes of -17.07% and -5.78%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for ON Semiconductor Corp.These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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, 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 has moved 2.25% lower within the past month. ON Semiconductor Corp. is currently a Zacks Rank #3 (Hold).
Digging into valuation, ON Semiconductor Corp. currently has a Forward P/E ratio of 17.53. This represents a discount compared to its industry's average Forward P/E of 17.57.
Investors should also note that ON has a PEG ratio of 4.76 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Semiconductor - Analog and Mixed was holding an average PEG ratio of 1.27 at yesterday's closing price.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 87, which puts it in the top 35% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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ON Semiconductor Corp. (ON) Gains As Market Dips: What You Should Know
ON Semiconductor Corp. (ON - Free Report) closed the most recent trading day at $78.70, moving +1.67% from the previous trading session. This move outpaced the S&P 500's daily loss of 1.53%. At the same time, the Dow lost 1.72%, and the tech-heavy Nasdaq lost 3.27%.
Heading into today, shares of the semiconductor components maker had lost 3.72% over the past month, lagging the Computer and Technology sector's loss of 1.34% and the S&P 500's loss of 1.28% in that time.
Investors will be hoping for strength from ON Semiconductor Corp. as it approaches its next earnings release. In that report, analysts expect ON Semiconductor Corp. to post earnings of $1.09 per share. This would mark a year-over-year decline of 10.66%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.92 billion, down 1.22% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.42 per share and revenue of $7.84 billion. These totals would mark changes of -17.07% and -5.78%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for ON Semiconductor Corp.These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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, 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 has moved 2.25% lower within the past month. ON Semiconductor Corp. is currently a Zacks Rank #3 (Hold).
Digging into valuation, ON Semiconductor Corp. currently has a Forward P/E ratio of 17.53. This represents a discount compared to its industry's average Forward P/E of 17.57.
Investors should also note that ON has a PEG ratio of 4.76 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Semiconductor - Analog and Mixed was holding an average PEG ratio of 1.27 at yesterday's closing price.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 87, which puts it in the top 35% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.