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Here's Why ON Semiconductor Corp. (ON) Fell More Than Broader Market
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ON Semiconductor Corp. (ON - Free Report) closed the most recent trading day at $66.60, moving -9.02% from the previous trading session. This change lagged the S&P 500's 0.45% loss on the day. On the other hand, the Dow registered a loss of 1.21%, and the technology-centric Nasdaq decreased by 0.01%.
Heading into today, shares of the semiconductor components maker had lost 7.83% over the past month, lagging the Computer and Technology sector's loss of 1.9% and the S&P 500's loss of 2.43%.
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 $0.9 per share, which would represent year-over-year growth of 42.86%. Meanwhile, the latest consensus estimate predicts the revenue to be $1.7 billion, indicating a 9.65% increase compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $3.23 per share and a revenue of $6.57 billion, signifying shifts of +37.45% and +9.52%, 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. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. At present, ON Semiconductor Corp. boasts a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that ON Semiconductor Corp. has a Forward P/E ratio of 22.69 right now. This represents a discount compared to its industry average Forward P/E of 38.5.
It's also important to note that ON currently trades at a PEG ratio of 0.6. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Semiconductor - Analog and Mixed was holding an average PEG ratio of 0.7 at yesterday's closing price.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 30, placing it within the top 13% of over 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
View the Zacks #1 Rank List
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Here's Why ON Semiconductor Corp. (ON) Fell More Than Broader Market
ON Semiconductor Corp. (ON - Free Report) closed the most recent trading day at $66.60, moving -9.02% from the previous trading session. This change lagged the S&P 500's 0.45% loss on the day. On the other hand, the Dow registered a loss of 1.21%, and the technology-centric Nasdaq decreased by 0.01%.
Heading into today, shares of the semiconductor components maker had lost 7.83% over the past month, lagging the Computer and Technology sector's loss of 1.9% and the S&P 500's loss of 2.43%.
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 $0.9 per share, which would represent year-over-year growth of 42.86%. Meanwhile, the latest consensus estimate predicts the revenue to be $1.7 billion, indicating a 9.65% increase compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $3.23 per share and a revenue of $6.57 billion, signifying shifts of +37.45% and +9.52%, 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. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. At present, ON Semiconductor Corp. boasts a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that ON Semiconductor Corp. has a Forward P/E ratio of 22.69 right now. This represents a discount compared to its industry average Forward P/E of 38.5.
It's also important to note that ON currently trades at a PEG ratio of 0.6. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Semiconductor - Analog and Mixed was holding an average PEG ratio of 0.7 at yesterday's closing price.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 30, placing it within the top 13% of over 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.
You can find more information on all of these metrics, and much more, on Zacks.com.