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ON Semiconductor Corp. (ON) Falls More Steeply Than Broader Market: What Investors Need to Know
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ON Semiconductor Corp. (ON - Free Report) closed the most recent trading day at $49.97, moving -1.79% from the previous trading session. The stock fell short of the S&P 500, which registered a loss of 0.28% for the day. Elsewhere, the Dow saw a downswing of 0.52%, while the tech-heavy Nasdaq depreciated by 0.08%.
The semiconductor components maker's shares have seen an increase of 5.71% over the last month, not keeping up with the Computer and Technology sector's gain of 7.19% and outstripping the S&P 500's gain of 4.03%.
Analysts and investors alike will be keeping a close eye on the performance of ON Semiconductor Corp. in its upcoming earnings disclosure. The company is expected to report EPS of $0.59, down 40.4% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.52 billion, down 14.01% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.32 per share and a revenue of $5.96 billion, signifying shifts of -41.71% and -15.79%, respectively, from the last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for ON Semiconductor Corp. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. As of now, ON Semiconductor Corp. holds a Zacks Rank of #2 (Buy).
Looking at valuation, ON Semiconductor Corp. is presently trading at a Forward P/E ratio of 21.92. This signifies a discount in comparison to the average Forward P/E of 42.6 for its industry.
Meanwhile, ON's PEG ratio is currently 2.53. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. ON's industry had an average PEG ratio of 2.11 as of yesterday's close.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 26, placing it within the top 11% of over 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.
To follow ON in the coming trading sessions, be sure to utilize Zacks.com.
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ON Semiconductor Corp. (ON) Falls More Steeply Than Broader Market: What Investors Need to Know
ON Semiconductor Corp. (ON - Free Report) closed the most recent trading day at $49.97, moving -1.79% from the previous trading session. The stock fell short of the S&P 500, which registered a loss of 0.28% for the day. Elsewhere, the Dow saw a downswing of 0.52%, while the tech-heavy Nasdaq depreciated by 0.08%.
The semiconductor components maker's shares have seen an increase of 5.71% over the last month, not keeping up with the Computer and Technology sector's gain of 7.19% and outstripping the S&P 500's gain of 4.03%.
Analysts and investors alike will be keeping a close eye on the performance of ON Semiconductor Corp. in its upcoming earnings disclosure. The company is expected to report EPS of $0.59, down 40.4% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.52 billion, down 14.01% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.32 per share and a revenue of $5.96 billion, signifying shifts of -41.71% and -15.79%, respectively, from the last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for ON Semiconductor Corp. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. As of now, ON Semiconductor Corp. holds a Zacks Rank of #2 (Buy).
Looking at valuation, ON Semiconductor Corp. is presently trading at a Forward P/E ratio of 21.92. This signifies a discount in comparison to the average Forward P/E of 42.6 for its industry.
Meanwhile, ON's PEG ratio is currently 2.53. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. ON's industry had an average PEG ratio of 2.11 as of yesterday's close.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 26, placing it within the top 11% of over 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.
To follow ON in the coming trading sessions, be sure to utilize Zacks.com.