ON Semiconductor Corp (NASDAQ:ON) Expected to Announce Quarterly Sales of $1.38 Billion

Brokerages predict that ON Semiconductor Corp (NASDAQ:ON) will post $1.38 billion in sales for the current quarter, according to Zacks. Eight analysts have provided estimates for ON Semiconductor’s earnings. ON Semiconductor reported sales of $1.50 billion during the same quarter last year, which would suggest a negative year over year growth rate of 8%. The business is expected to issue its next earnings report on Friday, February 7th.

On average, analysts expect that ON Semiconductor will report full year sales of $5.49 billion for the current year. For the next fiscal year, analysts anticipate that the company will post sales of $5.69 billion, with estimates ranging from $5.62 billion to $5.81 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow ON Semiconductor.

ON Semiconductor (NASDAQ:ON) last released its quarterly earnings data on Sunday, October 27th. The semiconductor company reported $0.33 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.03). ON Semiconductor had a return on equity of 21.95% and a net margin of 5.71%. The firm had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same period last year, the business earned $0.57 EPS. The firm’s revenue was down 10.4% on a year-over-year basis.

ON has been the subject of several recent analyst reports. ValuEngine raised ON Semiconductor from a “sell” rating to a “hold” rating in a research report on Wednesday, October 30th. Citigroup raised their price objective on shares of ON Semiconductor from $21.00 to $24.50 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Raymond James upgraded shares of ON Semiconductor from a “market perform” rating to a “strong-buy” rating and set a $21.00 target price for the company in a research report on Monday, August 19th. Loop Capital cut their price target on ON Semiconductor to $23.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Finally, Benchmark initiated coverage on ON Semiconductor in a research report on Friday, September 20th. They issued a “buy” rating and a $26.00 price target on the stock. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $25.27.

ON stock traded down $0.34 during trading hours on Friday, hitting $20.78. 4,258,900 shares of the stock traded hands, compared to its average volume of 6,366,346. The company has a current ratio of 1.54, a quick ratio of 0.92 and a debt-to-equity ratio of 0.89. The stock has a 50-day simple moving average of $19.89 and a 200 day simple moving average of $19.49. ON Semiconductor has a one year low of $15.06 and a one year high of $23.54. The company has a market cap of $8.95 billion, a P/E ratio of 10.60, a P/E/G ratio of 1.44 and a beta of 2.21.

In other news, COO William A. Schromm sold 10,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $22.01, for a total value of $220,100.00. Following the completion of the sale, the chief operating officer now owns 716,413 shares of the company’s stock, valued at approximately $15,768,250.13. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Daryl Ostrander sold 3,000 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $22.14, for a total transaction of $66,420.00. Following the completion of the transaction, the director now directly owns 93,474 shares of the company’s stock, valued at $2,069,514.36. The disclosure for this sale can be found here. In the last quarter, insiders have sold 87,535 shares of company stock valued at $1,737,379. Corporate insiders own 1.40% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Eqis Capital Management Inc. lifted its position in shares of ON Semiconductor by 2.4% during the 3rd quarter. Eqis Capital Management Inc. now owns 65,766 shares of the semiconductor company’s stock worth $1,263,000 after buying an additional 1,518 shares during the last quarter. Brasada Capital Management LP acquired a new stake in ON Semiconductor in the third quarter valued at approximately $240,000. Paradice Investment Management LLC boosted its position in ON Semiconductor by 2.3% in the third quarter. Paradice Investment Management LLC now owns 3,515,417 shares of the semiconductor company’s stock valued at $67,531,000 after buying an additional 77,889 shares in the last quarter. Monarch Partners Asset Management LLC acquired a new position in shares of ON Semiconductor during the third quarter worth $2,302,000. Finally, First Trust Advisors LP lifted its stake in shares of ON Semiconductor by 15.1% in the 3rd quarter. First Trust Advisors LP now owns 2,080,548 shares of the semiconductor company’s stock valued at $39,967,000 after acquiring an additional 272,344 shares during the last quarter. Institutional investors own 97.49% of the company’s stock.

About ON Semiconductor

ON Semiconductor Corporation manufactures and sells semiconductor components for various electronic devices worldwide. The company operates in three segments: Power Solutions Group, Analog Solutions Group, and Intelligent Sensing Group. The Power Solutions Group segment offers discrete, module, and integrated semiconductor products for various applications, such as power switching and conversion, signal conditioning, circuit protection, signal amplification, and voltage reference.

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Earnings History and Estimates for ON Semiconductor (NASDAQ:ON)

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