Onsemi (NASDAQ:ON) Issues Earnings Results, Beats Estimates By $0.04 EPS

Onsemi (NASDAQ:ON) released its quarterly earnings data on Monday. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04, Briefing.com reports. Onsemi had a net margin of 26.46% and a return on equity of 31.36%. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same period in the prior year, the company earned $1.19 EPS. The firm’s quarterly revenue was down 4.9% compared to the same quarter last year. Onsemi updated its Q2 guidance to $0.86-0.98 EPS and its Q2 2024 guidance to 0.860-0.980 EPS.

Onsemi Stock Up 4.1 %

Onsemi stock opened at $70.82 on Tuesday. Onsemi has a 1-year low of $59.34 and a 1-year high of $111.35. The firm has a market capitalization of $30.44 billion, a price-to-earnings ratio of 14.48, a price-to-earnings-growth ratio of 6.71 and a beta of 1.80. The firm’s fifty day moving average price is $73.11 and its two-hundred day moving average price is $75.28. The company has a current ratio of 2.71, a quick ratio of 1.74 and a debt-to-equity ratio of 0.33.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ON. BNP Paribas restated an “underperform” rating and issued a $55.00 price target on shares of Onsemi in a research report on Friday, April 19th. Truist Financial decreased their price target on shares of Onsemi from $94.00 to $89.00 and set a “buy” rating for the company in a research report on Tuesday, February 6th. Stifel Nicolaus decreased their price target on shares of Onsemi from $82.00 to $72.00 and set a “hold” rating for the company in a research report on Thursday, April 18th. Morgan Stanley decreased their price target on shares of Onsemi from $80.00 to $70.00 and set an “equal weight” rating for the company in a research report on Monday, April 22nd. Finally, KeyCorp upped their price target on shares of Onsemi from $95.00 to $100.00 and gave the company an “overweight” rating in a research report on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $95.08.

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.