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ON Semiconductor Corp. (ON) Stock Moves -0.39%: What You Should Know

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ON Semiconductor Corp. (ON - Free Report) closed the latest trading day at $64.47, indicating a -0.39% change from the previous session's end. The stock exceeded the S&P 500, which registered a loss of 0.58% for the day. Elsewhere, the Dow lost 0.12%, while the tech-heavy Nasdaq lost 1.15%.

Shares of the semiconductor components maker witnessed a loss of 12.59% over the previous month, trailing the performance of the Computer and Technology sector with its loss of 0.47% and the S&P 500's loss of 1.09%.

Investors will be eagerly watching for the performance of ON Semiconductor Corp. in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on April 29, 2024. The company is predicted to post an EPS of $1.05, indicating a 11.76% decline compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.85 billion, down 5.52% from the year-ago period.

For the full year, the Zacks Consensus Estimates project earnings of $4.34 per share and a revenue of $7.56 billion, demonstrating changes of -15.89% and -8.37%, respectively, from the preceding year.

Investors should also note any recent changes to analyst estimates for ON Semiconductor Corp. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Over the past month, the Zacks Consensus EPS estimate has remained steady. ON Semiconductor Corp. is currently sporting a Zacks Rank of #4 (Sell).

In the context of valuation, ON Semiconductor Corp. is at present trading with a Forward P/E ratio of 14.92. This valuation marks a discount compared to its industry's average Forward P/E of 32.62.

We can also see that ON currently has a PEG ratio of 6.27. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Semiconductor - Analog and Mixed industry had an average PEG ratio of 2.98.

The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 241, positioning it in the bottom 5% of all 250+ industries.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Ensure to harness to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.

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