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ON Semiconductor Corp. (ON) Registers a Bigger Fall Than the Market: Important Facts to Note
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ON Semiconductor Corp. (ON - Free Report) closed the most recent trading day at $117.00, moving -3.23% from the previous trading session. This move lagged the S&P 500's daily loss of 0.26%. Elsewhere, the Dow gained 0.17%, while the tech-heavy Nasdaq lost 0.97%.
Heading into today, shares of the semiconductor components maker had gained 12.74% over the past month, outpacing the Computer and Technology sector's gain of 0.37% and the S&P 500's gain of 0.23%.
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 $0.72 per share, which would represent year-over-year growth of 35.85%. In the meantime, our current consensus estimate forecasts the revenue to be $1.59 billion, indicating a 7.92% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $3.09 per share and revenue of $6.48 billion, which would represent changes of +31.49% and +8.02%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for ON Semiconductor Corp. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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 past month, the Zacks Consensus EPS estimate remained stagnant. At present, ON Semiconductor Corp. boasts a Zacks Rank of #2 (Buy).
From a valuation perspective, ON Semiconductor Corp. is currently exchanging hands at a Forward P/E ratio of 39.16. This valuation marks a discount compared to its industry average Forward P/E of 59.71.
Investors should also note that ON has a PEG ratio of 1.08 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The average PEG ratio for the Semiconductor - Analog and Mixed industry stood at 1.11 at the close of the market yesterday.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 5, finds itself in the top 3% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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ON Semiconductor Corp. (ON) Registers a Bigger Fall Than the Market: Important Facts to Note
ON Semiconductor Corp. (ON - Free Report) closed the most recent trading day at $117.00, moving -3.23% from the previous trading session. This move lagged the S&P 500's daily loss of 0.26%. Elsewhere, the Dow gained 0.17%, while the tech-heavy Nasdaq lost 0.97%.
Heading into today, shares of the semiconductor components maker had gained 12.74% over the past month, outpacing the Computer and Technology sector's gain of 0.37% and the S&P 500's gain of 0.23%.
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 $0.72 per share, which would represent year-over-year growth of 35.85%. In the meantime, our current consensus estimate forecasts the revenue to be $1.59 billion, indicating a 7.92% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $3.09 per share and revenue of $6.48 billion, which would represent changes of +31.49% and +8.02%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for ON Semiconductor Corp. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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 past month, the Zacks Consensus EPS estimate remained stagnant. At present, ON Semiconductor Corp. boasts a Zacks Rank of #2 (Buy).
From a valuation perspective, ON Semiconductor Corp. is currently exchanging hands at a Forward P/E ratio of 39.16. This valuation marks a discount compared to its industry average Forward P/E of 59.71.
Investors should also note that ON has a PEG ratio of 1.08 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The average PEG ratio for the Semiconductor - Analog and Mixed industry stood at 1.11 at the close of the market yesterday.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 5, finds itself in the top 3% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.