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ON Semiconductor Corp. (ON) Outperforms Broader Market: What You Need to Know
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ON Semiconductor Corp. (ON - Free Report) closed at $82.59 in the latest trading session, marking a +1.21% move from the prior day. This change outpaced the S&P 500's 1.12% gain on the day. Elsewhere, the Dow gained 0.61%, while the tech-heavy Nasdaq added 1.54%.
Prior to today's trading, shares of the semiconductor components maker had gained 0.84% over the past month. This has outpaced the Computer and Technology sector's loss of 0.4% and lagged the S&P 500's gain of 2.06% in that time.
The investment community will be paying close attention to the earnings performance of ON Semiconductor Corp. in its upcoming release. On that day, ON Semiconductor Corp. is projected to report earnings of $1.05 per share, which would represent a year-over-year decline of 11.76%. Alongside, our most recent consensus estimate is anticipating revenue of $1.85 billion, indicating a 5.52% downward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $4.34 per share and a revenue of $7.56 billion, indicating changes of -15.89% and -8.37%, respectively, from the former year.
It's also important for investors to be aware of any recent modifications to analyst estimates for ON Semiconductor Corp. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection has moved 1.84% lower. As of now, ON Semiconductor Corp. holds a Zacks Rank of #3 (Hold).
In the context of valuation, ON Semiconductor Corp. is at present trading with a Forward P/E ratio of 18.81. This represents a discount compared to its industry's average Forward P/E of 32.89.
It's also important to note that ON currently trades at a PEG ratio of 7.9. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Semiconductor - Analog and Mixed industry held an average PEG ratio of 2.96.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 161, this industry ranks in the bottom 37% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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ON Semiconductor Corp. (ON) Outperforms Broader Market: What You Need to Know
ON Semiconductor Corp. (ON - Free Report) closed at $82.59 in the latest trading session, marking a +1.21% move from the prior day. This change outpaced the S&P 500's 1.12% gain on the day. Elsewhere, the Dow gained 0.61%, while the tech-heavy Nasdaq added 1.54%.
Prior to today's trading, shares of the semiconductor components maker had gained 0.84% over the past month. This has outpaced the Computer and Technology sector's loss of 0.4% and lagged the S&P 500's gain of 2.06% in that time.
The investment community will be paying close attention to the earnings performance of ON Semiconductor Corp. in its upcoming release. On that day, ON Semiconductor Corp. is projected to report earnings of $1.05 per share, which would represent a year-over-year decline of 11.76%. Alongside, our most recent consensus estimate is anticipating revenue of $1.85 billion, indicating a 5.52% downward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $4.34 per share and a revenue of $7.56 billion, indicating changes of -15.89% and -8.37%, respectively, from the former year.
It's also important for investors to be aware of any recent modifications to analyst estimates for ON Semiconductor Corp. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection has moved 1.84% lower. As of now, ON Semiconductor Corp. holds a Zacks Rank of #3 (Hold).
In the context of valuation, ON Semiconductor Corp. is at present trading with a Forward P/E ratio of 18.81. This represents a discount compared to its industry's average Forward P/E of 32.89.
It's also important to note that ON currently trades at a PEG ratio of 7.9. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Semiconductor - Analog and Mixed industry held an average PEG ratio of 2.96.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 161, this industry ranks in the bottom 37% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.