Onsemi (NASDAQ:ON) Releases Quarterly Earnings Results

Onsemi (NASDAQ:ONGet Free Report) posted its quarterly earnings data on Monday. The semiconductor company reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.04, MarketWatch Earnings reports. The company had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2 billion. Onsemi had a net margin of 26.46% and a return on equity of 31.36%. The firm’s revenue was down 4.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.32 EPS. Onsemi updated its Q1 guidance to $0.98-1.10 EPS and its Q1 2024 guidance to 0.980-1.100 EPS.

Onsemi Price Performance

Shares of ON opened at $76.32 on Wednesday. Onsemi has a 1-year low of $61.47 and a 1-year high of $111.35. The stock has a market cap of $32.87 billion, a PE ratio of 15.61, a P/E/G ratio of 1.38 and a beta of 1.81. The firm has a 50-day simple moving average of $77.27 and a two-hundred day simple moving average of $84.30. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.71 and a quick ratio of 1.60.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. HighTower Advisors LLC lifted its stake in Onsemi by 3.2% in the first quarter. HighTower Advisors LLC now owns 27,412 shares of the semiconductor company’s stock worth $1,716,000 after acquiring an additional 845 shares during the last quarter. MetLife Investment Management LLC purchased a new position in Onsemi in the first quarter worth approximately $1,171,000. Yousif Capital Management LLC lifted its stake in Onsemi by 4.2% in the first quarter. Yousif Capital Management LLC now owns 9,877 shares of the semiconductor company’s stock worth $618,000 after acquiring an additional 395 shares during the last quarter. Raymond James Trust N.A. lifted its stake in Onsemi by 15.4% in the first quarter. Raymond James Trust N.A. now owns 5,938 shares of the semiconductor company’s stock worth $372,000 after acquiring an additional 793 shares during the last quarter. Finally, Blair William & Co. IL raised its holdings in Onsemi by 22.0% during the first quarter. Blair William & Co. IL now owns 4,258 shares of the semiconductor company’s stock worth $267,000 after purchasing an additional 768 shares in the last quarter. Hedge funds and other institutional investors own 96.36% of the company’s stock.

Wall Street Analyst Weigh In

ON has been the subject of several recent analyst reports. Susquehanna lowered their price objective on shares of Onsemi from $110.00 to $90.00 and set a “positive” rating for the company in a research note on Tuesday, October 31st. The Goldman Sachs Group lowered their price objective on shares of Onsemi from $106.00 to $93.00 and set a “buy” rating for the company in a research note on Tuesday, October 31st. JPMorgan Chase & Co. lowered their price objective on shares of Onsemi from $95.00 to $90.00 and set a “neutral” rating for the company in a research note on Tuesday. KeyCorp upped their price objective on shares of Onsemi from $95.00 to $100.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Mizuho reduced their price target on shares of Onsemi from $98.00 to $92.00 and set a “buy” rating on the stock in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Onsemi currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.42.

View Our Latest Stock Report on ON

About Onsemi

(Get Free Report)

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.

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Earnings History for Onsemi (NASDAQ:ON)

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