Onsemi (NASDAQ:ON) Updates Q4 2024 Earnings Guidance

Onsemi (NASDAQ:ON) updated its fourth quarter 2024 earnings guidance on Monday. The company provided earnings per share guidance of 0.920-1.040 for the period, compared to the consensus earnings per share estimate of 1.000. The company issued revenue guidance of $1.7 billion-$1.8 billion. Onsemi also updated its Q4 guidance to $0.92-1.04 EPS.

Onsemi Trading Up 1.7 %

NASDAQ ON opened at $71.25 on Monday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.95 and a current ratio of 3.01. Onsemi has a one year low of $59.34 and a one year high of $86.77. The firm has a market cap of $30.65 billion, a price-to-earnings ratio of 14.54, a PEG ratio of 3.57 and a beta of 1.65. The firm has a 50 day simple moving average of $71.63 and a 200-day simple moving average of $71.41.

Onsemi (NASDAQ:ON) last announced its earnings results on Monday, July 29th. The semiconductor company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. Onsemi had a net margin of 24.84% and a return on equity of 25.48%. The business had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the prior year, the company earned $1.33 earnings per share. The business’s revenue was down 17.2% compared to the same quarter last year. Equities research analysts anticipate that Onsemi will post 4.01 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Morgan Stanley lowered Onsemi from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $70.00 to $65.00 in a research note on Thursday, July 11th. KeyCorp dropped their target price on Onsemi from $95.00 to $90.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Onsemi from $85.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Truist Financial increased their target price on Onsemi from $85.00 to $97.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Finally, Susquehanna lifted their price target on shares of Onsemi from $85.00 to $95.00 and gave the company a “positive” rating in a report on Wednesday, July 17th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $85.74.

Insider Activity

In other Onsemi news, insider Simon Keeton sold 30,939 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $77.94, for a total value of $2,411,385.66. Following the transaction, the insider now owns 231,092 shares of the company’s stock, valued at approximately $18,011,310.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $72.71, for a total value of $109,065.00. Following the transaction, the chief executive officer now directly owns 839,210 shares in the company, valued at approximately $61,018,959.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Simon Keeton sold 30,939 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $77.94, for a total value of $2,411,385.66. Following the sale, the insider now owns 231,092 shares of the company’s stock, valued at approximately $18,011,310.48. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,939 shares of company stock worth $2,626,651. 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.