Onsemi (NASDAQ:ON) Issues Q3 Earnings Guidance

Onsemi (NASDAQ:ON) updated its third quarter earnings guidance on Monday. The company provided earnings per share guidance of $0.91-1.03 for the period, compared to the consensus earnings per share estimate of $0.97. The company issued revenue guidance of $1.70-1.80 billion, compared to the consensus revenue estimate of $1.78 billion. Onsemi also updated its Q3 2024 guidance to 0.910-1.030 EPS.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. TD Cowen dropped their target price on shares of Onsemi from $90.00 to $85.00 and set a buy rating on the stock in a research note on Tuesday, April 30th. Mizuho reduced their price objective on Onsemi from $92.00 to $87.00 and set a buy rating for the company in a report on Tuesday, April 30th. Jefferies Financial Group started coverage on Onsemi in a research report on Monday, May 13th. They issued a buy rating and a $100.00 target price for the company. Truist Financial dropped their price target on Onsemi from $89.00 to $85.00 and set a buy rating on the stock in a research report on Tuesday, April 30th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Onsemi from $90.00 to $85.00 and set a buy rating for the company in a report on Tuesday, April 30th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, Onsemi currently has an average rating of Moderate Buy and a consensus target price of $88.36.

Onsemi Trading Up 11.5 %

Shares of ON opened at $78.27 on Tuesday. Onsemi has a 1-year low of $59.34 and a 1-year high of $111.35. The company has a market capitalization of $33.67 billion, a P/E ratio of 15.97, a P/E/G ratio of 3.05 and a beta of 1.69. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.87 and a quick ratio of 1.87. The firm’s 50 day simple moving average is $72.63 and its 200 day simple moving average is $73.19.

Onsemi (NASDAQ:ON) last posted its quarterly earnings data on Monday, July 29th. The semiconductor company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.04. Onsemi had a net margin of 26.67% and a return on equity of 28.86%. The firm had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter last year, the company posted $1.33 EPS. The business’s quarterly revenue was down 17.2% on a year-over-year basis. Sell-side analysts forecast that Onsemi will post 4.02 earnings per share for the current fiscal year.

Insider Transactions at Onsemi

In related news, Director Paul Anthony Mascarenas sold 911 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $74.46, for a total transaction of $67,833.06. Following the transaction, the director now directly owns 48,929 shares of the company’s stock, valued at approximately $3,643,253.34. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Trent Thad sold 38,000 shares of the stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $72.55, for a total transaction of $2,756,900.00. Following the completion of the sale, the chief financial officer now directly owns 331,829 shares in the company, valued at approximately $24,074,193.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Paul Anthony Mascarenas sold 911 shares of Onsemi stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $74.46, for a total value of $67,833.06. Following the completion of the transaction, the director now directly owns 48,929 shares in the company, valued at $3,643,253.34. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

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.