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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 $79.21 in the latest trading session, marking a +1.02% move from the prior day. This move outpaced the S&P 500's daily gain of 0.09%. Meanwhile, the Dow lost 0.03%, and the Nasdaq, a tech-heavy index, lost 2.51%.
Heading into today, shares of the semiconductor components maker had lost 1.96% over the past month, lagging the Computer and Technology sector's gain of 4% and the S&P 500's gain of 6.17% in that time.
Wall Street will be looking for positivity from ON Semiconductor Corp. as it approaches its next earnings report date. This is expected to be May 1, 2023. On that day, ON Semiconductor Corp. is projected to report earnings of $1.09 per share, which would represent 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 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.
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 remained stagnant. ON Semiconductor Corp. is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, ON Semiconductor Corp. is currently trading at a Forward P/E ratio of 17.75. Its industry sports an average Forward P/E of 17.88, so we one might conclude that ON Semiconductor Corp. is trading at a discount comparatively.
Also, we should mention that ON has a PEG ratio of 4.82. 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 1.46 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 113, which puts it in the top 45% 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.
To follow ON in the coming trading sessions, be sure to utilize Zacks.com.
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ON Semiconductor Corp. (ON) Outpaces Stock Market Gains: What You Should Know
ON Semiconductor Corp. (ON - Free Report) closed at $79.21 in the latest trading session, marking a +1.02% move from the prior day. This move outpaced the S&P 500's daily gain of 0.09%. Meanwhile, the Dow lost 0.03%, and the Nasdaq, a tech-heavy index, lost 2.51%.
Heading into today, shares of the semiconductor components maker had lost 1.96% over the past month, lagging the Computer and Technology sector's gain of 4% and the S&P 500's gain of 6.17% in that time.
Wall Street will be looking for positivity from ON Semiconductor Corp. as it approaches its next earnings report date. This is expected to be May 1, 2023. On that day, ON Semiconductor Corp. is projected to report earnings of $1.09 per share, which would represent 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 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.
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 remained stagnant. ON Semiconductor Corp. is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, ON Semiconductor Corp. is currently trading at a Forward P/E ratio of 17.75. Its industry sports an average Forward P/E of 17.88, so we one might conclude that ON Semiconductor Corp. is trading at a discount comparatively.
Also, we should mention that ON has a PEG ratio of 4.82. 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 1.46 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 113, which puts it in the top 45% 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.
To follow ON in the coming trading sessions, be sure to utilize Zacks.com.