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ON Semiconductor Corp. (ON) Increases Despite Market Slip: Here's What You Need to Know
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ON Semiconductor Corp. (ON - Free Report) ended the recent trading session at $93.79, demonstrating a +2.95% change from the preceding day's closing price. This change outpaced the S&P 500's 0.28% loss on the day. Meanwhile, the Dow experienced a drop of 1.09%, and the technology-dominated Nasdaq saw an increase of 0.2%.
Shares of the semiconductor components maker witnessed a loss of 22.14% over the previous month, trailing the performance of the Computer and Technology sector with its loss of 1.22%, and the S&P 500's gain of 1.64%.
Analysts and investors alike will be keeping a close eye on the performance of ON Semiconductor Corp. in its upcoming earnings disclosure. On that day, ON Semiconductor Corp. is projected to report earnings of $0.71 per share, which would represent year-over-year growth of 33.96%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.59 billion, up 7.92% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $3.09 per share and revenue of $6.48 billion, indicating changes of +31.49% and +8.02%, respectively, compared to the previous year.
Any recent changes to analyst estimates for ON Semiconductor Corp. should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. At present, ON Semiconductor Corp. boasts a Zacks Rank of #3 (Hold).
Looking at valuation, ON Semiconductor Corp. is presently trading at a Forward P/E ratio of 29.51. This signifies a discount in comparison to the average Forward P/E of 47.55 for its industry.
Also, we should mention that ON has a PEG ratio of 0.81. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Semiconductor - Analog and Mixed industry stood at 0.98 at the close of the market yesterday.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 16, positioning it in the top 7% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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 Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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ON Semiconductor Corp. (ON) Increases Despite Market Slip: Here's What You Need to Know
ON Semiconductor Corp. (ON - Free Report) ended the recent trading session at $93.79, demonstrating a +2.95% change from the preceding day's closing price. This change outpaced the S&P 500's 0.28% loss on the day. Meanwhile, the Dow experienced a drop of 1.09%, and the technology-dominated Nasdaq saw an increase of 0.2%.
Shares of the semiconductor components maker witnessed a loss of 22.14% over the previous month, trailing the performance of the Computer and Technology sector with its loss of 1.22%, and the S&P 500's gain of 1.64%.
Analysts and investors alike will be keeping a close eye on the performance of ON Semiconductor Corp. in its upcoming earnings disclosure. On that day, ON Semiconductor Corp. is projected to report earnings of $0.71 per share, which would represent year-over-year growth of 33.96%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.59 billion, up 7.92% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $3.09 per share and revenue of $6.48 billion, indicating changes of +31.49% and +8.02%, respectively, compared to the previous year.
Any recent changes to analyst estimates for ON Semiconductor Corp. should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. At present, ON Semiconductor Corp. boasts a Zacks Rank of #3 (Hold).
Looking at valuation, ON Semiconductor Corp. is presently trading at a Forward P/E ratio of 29.51. This signifies a discount in comparison to the average Forward P/E of 47.55 for its industry.
Also, we should mention that ON has a PEG ratio of 0.81. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Semiconductor - Analog and Mixed industry stood at 0.98 at the close of the market yesterday.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 16, positioning it in the top 7% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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 Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.