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) Falls More Steeply Than Broader Market: What Investors Need to Know
Read MoreHide Full Article
ON Semiconductor Corp. (ON - Free Report) closed at $74.43 in the latest trading session, marking a -1.56% move from the prior day. This change lagged the S&P 500's daily loss of 0.07%.
Heading into today, shares of the semiconductor components maker had lost 6.72% over the past month, lagging the Computer and Technology sector's gain of 2.5% and the S&P 500's gain of 3.98% in that time.
The investment community will be paying close attention to the earnings performance of ON Semiconductor Corp. in its upcoming release. The company is slated to reveal its earnings on February 5, 2024. The company is expected to report EPS of $1.21, down 8.33% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2 billion, down 4.83% from the year-ago period.
Investors should also take note of any recent adjustments 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.2% decrease. As of now, ON Semiconductor Corp. holds a Zacks Rank of #4 (Sell).
In terms of valuation, ON Semiconductor Corp. is currently trading at a Forward P/E ratio of 15.51. This represents a discount compared to its industry's average Forward P/E of 27.62.
We can additionally observe that ON currently boasts a PEG ratio of 3.84. 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. The average PEG ratio for the Semiconductor - Analog and Mixed industry stood at 3.52 at the close of the market yesterday.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 221, which puts it in the bottom 13% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
ON Semiconductor Corp. (ON) Falls More Steeply Than Broader Market: What Investors Need to Know
ON Semiconductor Corp. (ON - Free Report) closed at $74.43 in the latest trading session, marking a -1.56% move from the prior day. This change lagged the S&P 500's daily loss of 0.07%.
Heading into today, shares of the semiconductor components maker had lost 6.72% over the past month, lagging the Computer and Technology sector's gain of 2.5% and the S&P 500's gain of 3.98% in that time.
The investment community will be paying close attention to the earnings performance of ON Semiconductor Corp. in its upcoming release. The company is slated to reveal its earnings on February 5, 2024. The company is expected to report EPS of $1.21, down 8.33% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2 billion, down 4.83% from the year-ago period.
Investors should also take note of any recent adjustments 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.2% decrease. As of now, ON Semiconductor Corp. holds a Zacks Rank of #4 (Sell).
In terms of valuation, ON Semiconductor Corp. is currently trading at a Forward P/E ratio of 15.51. This represents a discount compared to its industry's average Forward P/E of 27.62.
We can additionally observe that ON currently boasts a PEG ratio of 3.84. 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. The average PEG ratio for the Semiconductor - Analog and Mixed industry stood at 3.52 at the close of the market yesterday.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 221, which puts it in the bottom 13% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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.