Onsemi (NASDAQ:ON – Get Free Report) issued an update on its third quarter 2024 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of 0.910-1.030 for the period, compared to the consensus estimate of 0.970. The company issued revenue guidance of $1.7 billion-$1.8 billion, compared to the consensus revenue estimate of $1.8 billion. Onsemi also updated its Q3 guidance to $0.91-1.03 EPS.
Onsemi Stock Performance
NASDAQ:ON traded up $8.28 during mid-day trading on Monday, hitting $78.45. The company’s stock had a trading volume of 3,629,980 shares, compared to its average volume of 6,774,167. Onsemi has a 1 year low of $59.34 and a 1 year high of $111.35. 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 stock has a market cap of $33.75 billion, a price-to-earnings ratio of 15.99, a PEG ratio of 3.05 and a beta of 1.69. The business’s fifty day moving average is $72.55 and its two-hundred day moving average is $73.16.
Onsemi (NASDAQ:ON – Get Free Report) last posted its quarterly earnings results on Monday, July 29th. The semiconductor company reported $0.96 EPS 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 company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same period in the prior year, the company earned $1.33 earnings per share. The firm’s revenue was down 17.2% on a year-over-year basis. Analysts anticipate that Onsemi will post 4.02 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Check Out Our Latest Stock Analysis on ON
Insider Buying and Selling
In related news, Director Paul Anthony Mascarenas sold 911 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $74.46, for a total transaction of $67,833.06. Following the completion of the transaction, the director now owns 48,929 shares of the company’s stock, valued at approximately $3,643,253.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Onsemi news, Director Paul Anthony Mascarenas sold 911 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were 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 owns 48,929 shares of the company’s stock, valued at approximately $3,643,253.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Trent Thad sold 38,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $72.55, for a total transaction of $2,756,900.00. Following the completion of the transaction, the chief financial officer now directly owns 331,829 shares of the company’s stock, valued at approximately $24,074,193.95. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by corporate insiders.
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.
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