Onsemi (NASDAQ:ON) Announces Earnings Results

Onsemi (NASDAQ:ON) posted its quarterly earnings results on Monday. The semiconductor company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.97 by $0.02, Briefing.com reports. Onsemi had a net margin of 24.84% and a return on equity of 25.48%. The firm had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.75 billion. During the same period last year, the firm posted $1.39 earnings per share. The business’s revenue was down 19.2% compared to the same quarter last year. Onsemi updated its Q4 guidance to $0.92-1.04 EPS and its Q4 2024 guidance to 0.920-1.040 EPS.

Onsemi Trading Down 4.5 %

ON stock traded down $3.34 during midday trading on Thursday, hitting $70.29. 1,462,807 shares of the company’s stock were exchanged, compared to its average volume of 6,761,812. The stock has a market capitalization of $30.11 billion, a PE ratio of 18.27, a P/E/G ratio of 3.82 and a beta of 1.65. The company has a current ratio of 3.01, a quick ratio of 1.95 and a debt-to-equity ratio of 0.31. Onsemi has a 1-year low of $59.34 and a 1-year high of $86.77. The business has a 50-day simple moving average of $71.43 and a two-hundred day simple moving average of $71.49.

Insider Buying and Selling

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $72.71, for a total transaction of $109,065.00. Following the completion of the transaction, the chief executive officer now owns 839,210 shares of the company’s stock, valued at $61,018,959.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ON shares. Mizuho set a $85.00 target price on Onsemi in a report on Friday, October 18th. Bank of America upped their price target on shares of Onsemi from $80.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. KeyCorp decreased their price target on shares of Onsemi from $95.00 to $90.00 and set an “overweight” rating for the company in a research note on Tuesday, October 8th. Roth Mkm raised their price objective on shares of Onsemi from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Finally, Benchmark reiterated a “buy” rating and set a $90.00 price target on shares of Onsemi in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.91.

Onsemi Company Profile

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.