Wall Street analysts predict that onsemi (NASDAQ:ON) will post $1.04 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Nine analysts have provided estimates for onsemi’s earnings, with estimates ranging from $1.04 to $1.08. onsemi posted earnings per share of $0.35 during the same quarter last year, which indicates a positive year over year growth rate of 197.1%. The business is expected to report its next earnings results on Monday, May 2nd.
On average, analysts expect that onsemi will report full year earnings of $4.16 per share for the current financial year, with EPS estimates ranging from $4.04 to $4.40. For the next financial year, analysts expect that the company will report earnings of $4.44 per share, with EPS estimates ranging from $4.15 to $4.75. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover onsemi.
onsemi (NASDAQ:ON) last released its earnings results on Monday, February 7th. The semiconductor company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.15. The business had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.79 billion. onsemi had a return on equity of 25.19% and a net margin of 10.61%. onsemi’s quarterly revenue was up 27.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.35 earnings per share.
Several brokerages recently issued reports on ON. BMO Capital Markets boosted their price target on onsemi from $45.00 to $50.00 and gave the company a “market perform” rating in a research note on Tuesday, November 2nd. Susquehanna Bancshares boosted their price target on onsemi from $65.00 to $75.00 and gave the company a “positive” rating in a research note on Tuesday, February 8th. Robert W. Baird upped their target price on onsemi from $60.00 to $75.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 2nd. Bank of America upped their target price on onsemi from $75.00 to $82.00 and gave the stock a “buy” rating in a research note on Monday, January 10th. Finally, Truist Financial upped their target price on onsemi from $70.00 to $73.00 and gave the stock a “buy” rating in a research note on Tuesday, February 8th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, onsemi currently has an average rating of “Buy” and an average price target of $66.25.
In other news, EVP Vince Craig Hopkin sold 5,000 shares of the firm’s stock in a transaction dated Monday, December 13th. The shares were sold at an average price of $65.56, for a total value of $327,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Simon Keeton sold 4,000 shares of the firm’s stock in a transaction dated Thursday, December 23rd. The stock was sold at an average price of $65.88, for a total transaction of $263,520.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,055 shares of company stock valued at $1,057,029. 1.10% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Nordea Investment Management AB boosted its stake in onsemi by 170.4% in the 3rd quarter. Nordea Investment Management AB now owns 12,065,188 shares of the semiconductor company’s stock worth $558,376,000 after purchasing an additional 7,602,971 shares in the last quarter. Alliancebernstein L.P. boosted its stake in onsemi by 156.3% in the 3rd quarter. Alliancebernstein L.P. now owns 6,612,897 shares of the semiconductor company’s stock worth $302,672,000 after purchasing an additional 4,032,943 shares in the last quarter. Allianz Asset Management GmbH boosted its stake in onsemi by 33.5% in the 3rd quarter. Allianz Asset Management GmbH now owns 12,364,971 shares of the semiconductor company’s stock worth $565,944,000 after purchasing an additional 3,100,451 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in onsemi by 63.4% in the 3rd quarter. Goldman Sachs Group Inc. now owns 6,120,331 shares of the semiconductor company’s stock worth $280,128,000 after purchasing an additional 2,375,248 shares in the last quarter. Finally, Alphinity Investment Management Pty Ltd acquired a new stake in onsemi during the 4th quarter valued at approximately $141,818,000. 92.93% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ:ON opened at $58.97 on Friday. The stock’s 50-day simple moving average is $63.03 and its 200 day simple moving average is $54.00. The company has a market cap of $25.41 billion, a P/E ratio of 38.54 and a beta of 1.75. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.60 and a current ratio of 2.52. onsemi has a 52-week low of $34.01 and a 52-week high of $71.25.
About onsemi
onsemi is engaged in disruptive innovations and also a supplier of power and analog semiconductors. The firm offers vehicle electrification and safety, sustainable energy grids, industrial automation, and 5G and cloud infrastructure, with a focus on automotive and industrial end-markets. It operates through the following segments: Power Solutions Group, Advanced Solutions Group, and Intelligent Sensing Group.