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Why the Market Dipped But ON Semiconductor Corp. (ON) Gained Today
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ON Semiconductor Corp. (ON - Free Report) closed the most recent trading day at $76.86, moving +1.19% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.25%. Elsewhere, the Dow saw a downswing of 0.86%, while the tech-heavy Nasdaq appreciated by 0.24%.
The semiconductor components maker's stock has climbed by 4.54% in the past month, exceeding the Computer and Technology sector's gain of 4% and the S&P 500's loss of 0.42%.
The investment community will be closely monitoring the performance of ON Semiconductor Corp. in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $0.87, reflecting a 38.1% increase from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $1.7 billion, showing a 9.66% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $3.2 per share and revenue of $6.56 billion, which would represent changes of +36.17% and +9.47%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for ON Semiconductor Corp. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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 a 0.84% decrease. ON Semiconductor Corp. currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, ON Semiconductor Corp. is holding a Forward P/E ratio of 23.75. For comparison, its industry has an average Forward P/E of 50.01, which means ON Semiconductor Corp. is trading at a discount to the group.
Investors should also note that ON has a PEG ratio of 0.63 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Semiconductor - Analog and Mixed industry had an average PEG ratio of 0.73 as trading concluded yesterday.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 41, placing it within the top 17% of over 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Why the Market Dipped But ON Semiconductor Corp. (ON) Gained Today
ON Semiconductor Corp. (ON - Free Report) closed the most recent trading day at $76.86, moving +1.19% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.25%. Elsewhere, the Dow saw a downswing of 0.86%, while the tech-heavy Nasdaq appreciated by 0.24%.
The semiconductor components maker's stock has climbed by 4.54% in the past month, exceeding the Computer and Technology sector's gain of 4% and the S&P 500's loss of 0.42%.
The investment community will be closely monitoring the performance of ON Semiconductor Corp. in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $0.87, reflecting a 38.1% increase from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $1.7 billion, showing a 9.66% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $3.2 per share and revenue of $6.56 billion, which would represent changes of +36.17% and +9.47%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for ON Semiconductor Corp. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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 a 0.84% decrease. ON Semiconductor Corp. currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, ON Semiconductor Corp. is holding a Forward P/E ratio of 23.75. For comparison, its industry has an average Forward P/E of 50.01, which means ON Semiconductor Corp. is trading at a discount to the group.
Investors should also note that ON has a PEG ratio of 0.63 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Semiconductor - Analog and Mixed industry had an average PEG ratio of 0.73 as trading concluded yesterday.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 41, placing it within the top 17% of over 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.