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Why ON Semiconductor Corp. (ON) Outpaced the Stock Market Today
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ON Semiconductor Corp. (ON - Free Report) ended the recent trading session at $63.49, demonstrating a +2.09% change from the preceding day's closing price. The stock's change was more than the S&P 500's daily gain of 0.44%. Meanwhile, the Dow experienced a rise of 0.36%, and the technology-dominated Nasdaq saw an increase of 0.54%.
Coming into today, shares of the semiconductor components maker had gained 9.35% in the past month. In that same time, the Computer and Technology sector lost 2.47%, while the S&P 500 lost 3.31%.
The upcoming earnings release of ON Semiconductor Corp. will be of great interest to investors. On that day, ON Semiconductor Corp. is projected to report earnings of $0.62 per share, which would represent year-over-year growth of 12.73%. At the same time, our most recent consensus estimate is projecting a revenue of $1.49 billion, reflecting a 2.9% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $2.92 per share and revenue of $6.28 billion, which would represent changes of +24.26% and +4.81%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for ON Semiconductor Corp. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Currently, ON Semiconductor Corp. is carrying 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 21.32. This denotes a discount relative to the industry average Forward P/E of 28.38.
It's also important to note that ON currently trades at a PEG ratio of 0.66. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Semiconductor - Analog and Mixed industry had an average PEG ratio of 0.78 as trading concluded yesterday.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 38, putting it in the top 16% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Why ON Semiconductor Corp. (ON) Outpaced the Stock Market Today
ON Semiconductor Corp. (ON - Free Report) ended the recent trading session at $63.49, demonstrating a +2.09% change from the preceding day's closing price. The stock's change was more than the S&P 500's daily gain of 0.44%. Meanwhile, the Dow experienced a rise of 0.36%, and the technology-dominated Nasdaq saw an increase of 0.54%.
Coming into today, shares of the semiconductor components maker had gained 9.35% in the past month. In that same time, the Computer and Technology sector lost 2.47%, while the S&P 500 lost 3.31%.
The upcoming earnings release of ON Semiconductor Corp. will be of great interest to investors. On that day, ON Semiconductor Corp. is projected to report earnings of $0.62 per share, which would represent year-over-year growth of 12.73%. At the same time, our most recent consensus estimate is projecting a revenue of $1.49 billion, reflecting a 2.9% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $2.92 per share and revenue of $6.28 billion, which would represent changes of +24.26% and +4.81%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for ON Semiconductor Corp. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Currently, ON Semiconductor Corp. is carrying 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 21.32. This denotes a discount relative to the industry average Forward P/E of 28.38.
It's also important to note that ON currently trades at a PEG ratio of 0.66. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Semiconductor - Analog and Mixed industry had an average PEG ratio of 0.78 as trading concluded yesterday.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 38, putting it in the top 16% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.