Onsemi (ON) Scheduled to Post Quarterly Earnings on Monday

Onsemi (NASDAQ:ON) will be announcing its earnings results before the market opens on Monday, July 29th. Analysts expect the company to announce earnings of $0.93 per share for the quarter. Onsemi has set its Q2 guidance at $0.86-0.98 EPS and its Q2 2024 guidance at 0.860-0.980 EPS.Investors that are interested in registering for the company’s conference call can do so using this link.

Onsemi (NASDAQ:ON) last announced its quarterly earnings data on Monday, April 29th. The semiconductor company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.04. Onsemi had a return on equity of 28.86% and a net margin of 26.67%. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.85 billion. During the same quarter last year, the firm posted $1.19 EPS. The firm’s revenue for the quarter was down 4.9% on a year-over-year basis. On average, analysts expect Onsemi to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Onsemi Stock Up 3.9 %

Shares of NASDAQ ON opened at $70.17 on Friday. Onsemi has a 52 week low of $59.34 and a 52 week high of $111.35. The business has a 50-day simple moving average of $72.55 and a two-hundred day simple moving average of $73.18. The company has a quick ratio of 1.87, a current ratio of 2.87 and a debt-to-equity ratio of 0.32. The company has a market cap of $30.19 billion, a P/E ratio of 14.32, a P/E/G ratio of 2.93 and a beta of 1.69.

Insider Activity at Onsemi

In related news, CFO Trent Thad sold 38,000 shares of the company’s stock in a transaction on 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 owns 331,829 shares in the company, valued at $24,074,193.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Onsemi news, CFO Trent Thad sold 38,000 shares of the company’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $72.55, for a total value of $2,756,900.00. Following the completion of the sale, the chief financial officer now owns 331,829 shares in the company, valued at $24,074,193.95. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Paul Anthony Mascarenas sold 911 shares of the company’s stock in a transaction dated 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 sale, the director now owns 48,929 shares of the company’s stock, valued at approximately $3,643,253.34. The disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Morgan Stanley downgraded Onsemi from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $70.00 to $65.00 in a research report on Thursday, July 11th. The Goldman Sachs Group dropped their price target on Onsemi from $91.00 to $81.00 and set a “buy” rating for the company in a research report on Tuesday, April 16th. Rosenblatt Securities dropped their price target on Onsemi from $75.00 to $70.00 and set a “neutral” rating for the company in a research report on Tuesday, April 30th. Deutsche Bank Aktiengesellschaft dropped their price target on Onsemi from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, April 30th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $92.00 price target on shares of Onsemi in a research report on Thursday, June 13th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $88.36.

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.