Onsemi (NASDAQ:ON) Issues Q4 2024 Earnings Guidance

Onsemi (NASDAQ:ON) updated its fourth quarter 2024 earnings guidance on Monday. The company provided EPS guidance of 0.920-1.040 for the period, compared to the consensus EPS estimate of 1.000. The company issued revenue guidance of $1.7 billion-$1.8 billion. Onsemi also updated its Q4 guidance to $0.92-1.04 EPS.

Analyst Ratings Changes

Several analysts recently commented on the company. Bank of America raised their price objective on Onsemi from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Susquehanna raised their price target on Onsemi from $85.00 to $95.00 and gave the stock a “positive” rating in a research report on Wednesday, July 17th. TD Cowen boosted their price objective on Onsemi from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft increased their target price on Onsemi from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Finally, Morgan Stanley lowered shares of Onsemi from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $70.00 to $65.00 in a research note on Thursday, July 11th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $85.74.

Onsemi Stock Performance

Shares of NASDAQ ON opened at $71.25 on Monday. The company has a current ratio of 3.01, a quick ratio of 1.95 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $30.65 billion, a P/E ratio of 14.54, a P/E/G ratio of 3.57 and a beta of 1.65. Onsemi has a 12 month low of $59.34 and a 12 month high of $86.77. The stock has a 50 day moving average of $71.63 and a 200-day moving average of $71.41.

Onsemi (NASDAQ:ON) last released its quarterly earnings data on Monday, July 29th. The semiconductor company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. The firm had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Onsemi had a net margin of 24.84% and a return on equity of 25.48%. The company’s revenue for the quarter was down 17.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.33 earnings per share. As a group, equities research analysts predict that Onsemi will post 4.01 EPS for the current year.

Insider Activity at Onsemi

In related news, insider Simon Keeton sold 30,939 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $77.94, for a total value of $2,411,385.66. Following the completion of the sale, the insider now directly owns 231,092 shares in the company, valued at $18,011,310.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Hassane El-Khoury sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $72.71, for a total transaction of $109,065.00. Following the transaction, the chief executive officer now directly owns 839,210 shares of the company’s stock, valued at approximately $61,018,959.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Simon Keeton sold 30,939 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $77.94, for a total value of $2,411,385.66. Following the sale, the insider now owns 231,092 shares of the company’s stock, valued at approximately $18,011,310.48. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,939 shares of company stock worth $2,626,651. Insiders own 0.31% of the company’s stock.

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.