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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 at $118.25 in the latest trading session, marking a -6.08% move from the prior day. This change lagged the S&P 500's 0.57% loss on the day. Meanwhile, the Dow gained 0.64%, and the Nasdaq, a tech-heavy index, lost 1.15%.
Shares of the semiconductor components maker witnessed a gain of 15.05% over the previous month, beating the performance of the Computer and Technology sector with its gain of 2.85%, and the S&P 500's gain of 2.14%.
Analysts and investors alike will be keeping a close eye on the performance of ON Semiconductor Corp. in its upcoming earnings disclosure. In that report, analysts expect ON Semiconductor Corp. to post earnings of $0.72 per share. This would mark year-over-year growth of 35.85%. Meanwhile, our latest consensus estimate is calling for revenue of $1.59 billion, up 7.92% from the prior-year quarter.
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.
Any recent changes to analyst estimates for ON Semiconductor Corp. should also be noted by investors. 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 business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. As of now, ON Semiconductor Corp. holds a Zacks Rank of #2 (Buy).
With respect to valuation, ON Semiconductor Corp. is currently being traded at a Forward P/E ratio of 40.78. Its industry sports an average Forward P/E of 65.57, so one might conclude that ON Semiconductor Corp. is trading at a discount comparatively.
It is also worth noting that ON currently has a PEG ratio of 1.12. 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 Semiconductor - Analog and Mixed industry currently had an average PEG ratio of 1.16 as of yesterday's close.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 5, positioning it in the top 3% 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.
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 at $118.25 in the latest trading session, marking a -6.08% move from the prior day. This change lagged the S&P 500's 0.57% loss on the day. Meanwhile, the Dow gained 0.64%, and the Nasdaq, a tech-heavy index, lost 1.15%.
Shares of the semiconductor components maker witnessed a gain of 15.05% over the previous month, beating the performance of the Computer and Technology sector with its gain of 2.85%, and the S&P 500's gain of 2.14%.
Analysts and investors alike will be keeping a close eye on the performance of ON Semiconductor Corp. in its upcoming earnings disclosure. In that report, analysts expect ON Semiconductor Corp. to post earnings of $0.72 per share. This would mark year-over-year growth of 35.85%. Meanwhile, our latest consensus estimate is calling for revenue of $1.59 billion, up 7.92% from the prior-year quarter.
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.
Any recent changes to analyst estimates for ON Semiconductor Corp. should also be noted by investors. 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 business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. As of now, ON Semiconductor Corp. holds a Zacks Rank of #2 (Buy).
With respect to valuation, ON Semiconductor Corp. is currently being traded at a Forward P/E ratio of 40.78. Its industry sports an average Forward P/E of 65.57, so one might conclude that ON Semiconductor Corp. is trading at a discount comparatively.
It is also worth noting that ON currently has a PEG ratio of 1.12. 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 Semiconductor - Analog and Mixed industry currently had an average PEG ratio of 1.16 as of yesterday's close.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 5, positioning it in the top 3% 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.
To follow ON in the coming trading sessions, be sure to utilize Zacks.com.