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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 the most recent trading day at $74.38, moving +0.87% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.09%. Elsewhere, the Dow gained 0.2%, while the tech-heavy Nasdaq lost 4.87%.
Prior to today's trading, shares of the semiconductor components maker had lost 5.23% over the past month. This has lagged the Computer and Technology sector's gain of 0.98% and the S&P 500's gain of 3.31% 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. The company is expected to report EPS of $1.09, down 10.66% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.92 billion, down 1.22% from the prior-year quarter.
ON's full-year Zacks Consensus Estimates are calling for earnings of $4.42 per share and revenue of $7.84 billion. These results would represent year-over-year changes of -17.07% and -5.78%, respectively.
It is also important to note the recent changes to analyst estimates for ON Semiconductor Corp.These recent revisions tend to reflect the evolving nature of short-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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. ON Semiconductor Corp. is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that ON Semiconductor Corp. has a Forward P/E ratio of 16.7 right now. Its industry sports an average Forward P/E of 17.58, so we one might conclude that ON Semiconductor Corp. is trading at a discount comparatively.
It is also worth noting that ON currently has a PEG ratio of 4.54. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Semiconductor - Analog and Mixed industry currently had an average PEG ratio of 1.43 as of yesterday's close.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 95, putting it in the top 38% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on 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 the most recent trading day at $74.38, moving +0.87% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.09%. Elsewhere, the Dow gained 0.2%, while the tech-heavy Nasdaq lost 4.87%.
Prior to today's trading, shares of the semiconductor components maker had lost 5.23% over the past month. This has lagged the Computer and Technology sector's gain of 0.98% and the S&P 500's gain of 3.31% 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. The company is expected to report EPS of $1.09, down 10.66% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.92 billion, down 1.22% from the prior-year quarter.
ON's full-year Zacks Consensus Estimates are calling for earnings of $4.42 per share and revenue of $7.84 billion. These results would represent year-over-year changes of -17.07% and -5.78%, respectively.
It is also important to note the recent changes to analyst estimates for ON Semiconductor Corp.These recent revisions tend to reflect the evolving nature of short-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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. ON Semiconductor Corp. is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that ON Semiconductor Corp. has a Forward P/E ratio of 16.7 right now. Its industry sports an average Forward P/E of 17.58, so we one might conclude that ON Semiconductor Corp. is trading at a discount comparatively.
It is also worth noting that ON currently has a PEG ratio of 4.54. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Semiconductor - Analog and Mixed industry currently had an average PEG ratio of 1.43 as of yesterday's close.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 95, putting it in the top 38% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.