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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 $92.67, moving +1.77% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.69%. At the same time, the Dow added 0.43%, and the tech-heavy Nasdaq lost 8.94%.
Heading into today, shares of the semiconductor components maker had gained 10.52% over the past month, lagging the Computer and Technology sector's gain of 10.86% and outpacing the S&P 500's gain of 5.41% in that time.
Wall Street will be looking for positivity from ON Semiconductor Corp. as it approaches its next earnings report date. The company is expected to report EPS of $1.21, down 9.7% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.02 billion, down 3.15% from the year-ago period.
ON's full-year Zacks Consensus Estimates are calling for earnings of $4.87 per share and revenue of $8.12 billion. These results would represent year-over-year changes of -8.63% and -2.5%, respectively.
It is also important to note the recent changes to analyst estimates for ON Semiconductor Corp.These revisions help to show the ever-changing nature of 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.
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. Within the past 30 days, our consensus EPS projection has moved 0.68% higher. ON Semiconductor Corp. currently has a Zacks Rank of #3 (Hold).
In terms of valuation, ON Semiconductor Corp. is currently trading at a Forward P/E ratio of 18.72. Its industry sports an average Forward P/E of 18.72, so we one might conclude that ON Semiconductor Corp. is trading at a no noticeable deviation comparatively.
We can also see that ON currently has a PEG ratio of 3.15. 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. ON's industry had an average PEG ratio of 1.76 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 202, putting it in the bottom 20% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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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 $92.67, moving +1.77% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.69%. At the same time, the Dow added 0.43%, and the tech-heavy Nasdaq lost 8.94%.
Heading into today, shares of the semiconductor components maker had gained 10.52% over the past month, lagging the Computer and Technology sector's gain of 10.86% and outpacing the S&P 500's gain of 5.41% in that time.
Wall Street will be looking for positivity from ON Semiconductor Corp. as it approaches its next earnings report date. The company is expected to report EPS of $1.21, down 9.7% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.02 billion, down 3.15% from the year-ago period.
ON's full-year Zacks Consensus Estimates are calling for earnings of $4.87 per share and revenue of $8.12 billion. These results would represent year-over-year changes of -8.63% and -2.5%, respectively.
It is also important to note the recent changes to analyst estimates for ON Semiconductor Corp.These revisions help to show the ever-changing nature of 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.
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. Within the past 30 days, our consensus EPS projection has moved 0.68% higher. ON Semiconductor Corp. currently has a Zacks Rank of #3 (Hold).
In terms of valuation, ON Semiconductor Corp. is currently trading at a Forward P/E ratio of 18.72. Its industry sports an average Forward P/E of 18.72, so we one might conclude that ON Semiconductor Corp. is trading at a no noticeable deviation comparatively.
We can also see that ON currently has a PEG ratio of 3.15. 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. ON's industry had an average PEG ratio of 1.76 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 202, putting it in the bottom 20% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.