We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
ON Semiconductor Corp. (ON) Outpaces Stock Market Gains: What You Should Know
Read MoreHide Full Article
In the latest trading session, ON Semiconductor Corp. (ON - Free Report) closed at $98.76, marking a +1.5% move from the previous day. This move outpaced the S&P 500's daily gain of 0.03%. Elsewhere, the Dow gained 0.01%, while the tech-heavy Nasdaq lost 1.37%.
Prior to today's trading, shares of the semiconductor components maker had gained 9.39% over the past month. This has outpaced the Computer and Technology sector's gain of 1.16% and the S&P 500's gain of 3.43% in that time.
ON Semiconductor Corp. will be looking to display strength as it nears its next earnings release, which is expected to be July 31, 2023. On that day, ON Semiconductor Corp. is projected to report earnings of $1.21 per share, which would represent a year-over-year decline of 9.7%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.02 billion, down 3.15% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.88 per share and revenue of $8.13 billion. These totals would mark changes of -8.44% and -2.38%, respectively, from last year.
Any recent changes to analyst estimates for ON Semiconductor Corp. should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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 0.31% higher. ON Semiconductor Corp. is holding a Zacks Rank of #2 (Buy) right now.
Investors should also note ON Semiconductor Corp.'s current valuation metrics, including its Forward P/E ratio of 19.94. This represents a no noticeable deviation compared to its industry's average Forward P/E of 19.94.
We can also see that ON currently has a PEG ratio of 3.35. 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 1.86 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 63, putting it in the top 25% 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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
ON Semiconductor Corp. (ON) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, ON Semiconductor Corp. (ON - Free Report) closed at $98.76, marking a +1.5% move from the previous day. This move outpaced the S&P 500's daily gain of 0.03%. Elsewhere, the Dow gained 0.01%, while the tech-heavy Nasdaq lost 1.37%.
Prior to today's trading, shares of the semiconductor components maker had gained 9.39% over the past month. This has outpaced the Computer and Technology sector's gain of 1.16% and the S&P 500's gain of 3.43% in that time.
ON Semiconductor Corp. will be looking to display strength as it nears its next earnings release, which is expected to be July 31, 2023. On that day, ON Semiconductor Corp. is projected to report earnings of $1.21 per share, which would represent a year-over-year decline of 9.7%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.02 billion, down 3.15% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.88 per share and revenue of $8.13 billion. These totals would mark changes of -8.44% and -2.38%, respectively, from last year.
Any recent changes to analyst estimates for ON Semiconductor Corp. should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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 0.31% higher. ON Semiconductor Corp. is holding a Zacks Rank of #2 (Buy) right now.
Investors should also note ON Semiconductor Corp.'s current valuation metrics, including its Forward P/E ratio of 19.94. This represents a no noticeable deviation compared to its industry's average Forward P/E of 19.94.
We can also see that ON currently has a PEG ratio of 3.35. 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 1.86 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 63, putting it in the top 25% 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.