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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 $77.75, marking a -0.8% move from the previous day. This move lagged the S&P 500's daily loss of 0.15%. Meanwhile, the Dow lost 0.28%, and the Nasdaq, a tech-heavy index, added 3.16%.
Coming into today, shares of the semiconductor components maker had lost 6.47% in the past month. In that same time, the Computer and Technology sector lost 3.13%, while the S&P 500 lost 5.39%.
Wall Street will be looking for positivity from ON Semiconductor Corp. as it approaches its next earnings report date. 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, our latest consensus estimate is calling for revenue of $1.92 billion, down 1.22% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.42 per share and revenue of $7.84 billion, which would represent changes of -17.07% and -5.78%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for ON Semiconductor Corp.Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.11% lower. ON Semiconductor Corp. is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, ON Semiconductor Corp. is holding a Forward P/E ratio of 17.75. This represents a premium compared to its industry's average Forward P/E of 17.45.
Also, we should mention that ON has a PEG ratio of 4.82. 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. Semiconductor - Analog and Mixed stocks are, on average, holding a PEG ratio of 1.42 based on yesterday's closing prices.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 57, which puts it in the top 23% 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) Dips More Than Broader Markets: What You Should Know
In the latest trading session, ON Semiconductor Corp. (ON - Free Report) closed at $77.75, marking a -0.8% move from the previous day. This move lagged the S&P 500's daily loss of 0.15%. Meanwhile, the Dow lost 0.28%, and the Nasdaq, a tech-heavy index, added 3.16%.
Coming into today, shares of the semiconductor components maker had lost 6.47% in the past month. In that same time, the Computer and Technology sector lost 3.13%, while the S&P 500 lost 5.39%.
Wall Street will be looking for positivity from ON Semiconductor Corp. as it approaches its next earnings report date. 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, our latest consensus estimate is calling for revenue of $1.92 billion, down 1.22% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.42 per share and revenue of $7.84 billion, which would represent changes of -17.07% and -5.78%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for ON Semiconductor Corp.Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.11% lower. ON Semiconductor Corp. is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, ON Semiconductor Corp. is holding a Forward P/E ratio of 17.75. This represents a premium compared to its industry's average Forward P/E of 17.45.
Also, we should mention that ON has a PEG ratio of 4.82. 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. Semiconductor - Analog and Mixed stocks are, on average, holding a PEG ratio of 1.42 based on yesterday's closing prices.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 57, which puts it in the top 23% 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.