ON Semiconductor (NASDAQ:ON) Issues Q2 Earnings Guidance

ON Semiconductor (NASDAQ:ON – Get Rating) issued an update on its second quarter earnings guidance on Monday morning. The company provided earnings per share guidance of $1.20-1.32 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.05. The company issued revenue guidance of $1.965-2.065 billion, compared to the consensus revenue estimate of $1.92 billion.

ON stock opened at $52.11 on Monday. The company has a quick ratio of 1.56, a current ratio of 2.45 and a debt-to-equity ratio of 0.63. ON Semiconductor has a 12 month low of $34.01 and a 12 month high of $71.25. The firm has a market cap of $22.63 billion, a P/E ratio of 22.86, a P/E/G ratio of 0.59 and a beta of 1.71. The company’s 50-day moving average price is $57.79 and its two-hundred day moving average price is $59.28.

ON Semiconductor (NASDAQ:ON – Get Rating) last announced its quarterly earnings results on Monday, February 7th. The semiconductor company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.15. The company had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.79 billion. ON Semiconductor had a net margin of 14.98% and a return on equity of 31.73%. The firm’s revenue was up 27.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.35 EPS. Equities analysts predict that ON Semiconductor will post 4.18 EPS for the current year.

ON has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their target price on shares of ON Semiconductor from $60.00 to $71.00 and gave the stock a neutral rating in a research report on Tuesday, February 8th. The Goldman Sachs Group boosted their target price on shares of ON Semiconductor from $62.00 to $70.00 and gave the company a buy rating in a research report on Monday, January 3rd. Needham & Company LLC boosted their target price on shares of ON Semiconductor from $75.00 to $80.00 and gave the company a strong-buy rating in a research report on Tuesday, February 8th. UBS Group boosted their price target on shares of ON Semiconductor from $55.00 to $69.00 and gave the company a neutral rating in a research note on Tuesday, February 8th. Finally, Jefferies Financial Group boosted their price target on shares of ON Semiconductor from $63.00 to $75.00 and gave the company a buy rating in a research note on Tuesday, February 8th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Buy and an average price target of $66.03.

In other news, EVP Vince Craig Hopkin sold 3,000 shares of the business’s stock in a transaction on Thursday, February 10th. The stock was sold at an average price of $65.59, for a total value of $196,770.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Paul Anthony Mascarenas sold 20,000 shares of the stock in a transaction on Wednesday, March 16th. The shares were sold at an average price of $60.00, for a total value of $1,200,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 47,000 shares of company stock worth $2,939,170 over the last three months. 0.40% of the stock is currently owned by insiders.

A number of hedge funds have recently modified their holdings of the stock. Parametric Portfolio Associates LLC boosted its holdings in ON Semiconductor by 6.1% in the fourth quarter. Parametric Portfolio Associates LLC now owns 972,197 shares of the semiconductor company’s stock worth $66,032,000 after purchasing an additional 56,183 shares during the last quarter. California State Teachers Retirement System boosted its holdings in ON Semiconductor by 2.7% in the fourth quarter. California State Teachers Retirement System now owns 753,454 shares of the semiconductor company’s stock worth $51,175,000 after purchasing an additional 20,054 shares during the last quarter. Allstate Corp raised its position in ON Semiconductor by 273.4% in the fourth quarter. Allstate Corp now owns 36,761 shares of the semiconductor company’s stock worth $2,497,000 after acquiring an additional 26,915 shares during the period. Stifel Financial Corp raised its position in ON Semiconductor by 1.6% in the fourth quarter. Stifel Financial Corp now owns 27,913 shares of the semiconductor company’s stock worth $1,896,000 after acquiring an additional 449 shares during the period. Finally, Metropolitan Life Insurance Co NY raised its position in ON Semiconductor by 24.5% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 19,118 shares of the semiconductor company’s stock worth $1,298,000 after acquiring an additional 3,757 shares during the period. Institutional investors own 92.86% of the company’s stock.

ON Semiconductor Company Profile (Get Rating)

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.

Read More