Analysts Anticipate ON Semiconductor Corp (NASDAQ:ON) Will Post Quarterly Sales of $2.02 Billion

Brokerages expect ON Semiconductor Corp (NASDAQ:ON – Get Rating) to report $2.02 billion in sales for the current quarter, according to Zacks Investment Research. Nine analysts have provided estimates for ON Semiconductor’s earnings. ON Semiconductor posted sales of $1.67 billion during the same quarter last year, which would indicate a positive year over year growth rate of 21%. The company is scheduled to issue its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that ON Semiconductor will report full-year sales of $7.99 billion for the current fiscal year, with estimates ranging from $7.86 billion to $8.05 billion. For the next year, analysts expect that the firm will post sales of $8.33 billion, with estimates ranging from $7.97 billion to $8.55 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that that provide coverage for ON Semiconductor.

ON Semiconductor (NASDAQ:ON – Get Rating) last announced its quarterly earnings data on Monday, May 2nd. The semiconductor company reported $1.22 EPS for the quarter, beating the consensus estimate of $1.05 by $0.17. The firm had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.91 billion. ON Semiconductor had a net margin of 20.13% and a return on equity of 38.08%. ON Semiconductor’s revenue was up 31.3% on a year-over-year basis. During the same period last year, the firm posted $0.35 EPS.

A number of equities research analysts recently issued reports on ON shares. Zacks Investment Research cut shares of ON Semiconductor from a “strong-buy” rating to a “hold” rating and set a $55.00 price target on the stock. in a research note on Tuesday, April 12th. Jefferies Financial Group boosted their price objective on shares of ON Semiconductor from $63.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, February 8th. Stifel Nicolaus boosted their price objective on shares of ON Semiconductor from $58.00 to $64.00 and gave the company a “hold” rating in a report on Tuesday, February 8th. Morgan Stanley boosted their price target on shares of ON Semiconductor from $62.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 8th. Finally, JPMorgan Chase & Co. boosted their price objective on ON Semiconductor from $60.00 to $71.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 8th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $69.58.

In other news, Director Paul Anthony Mascarenas sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 16th. The stock was sold at an average price of $60.00, for a total value of $1,200,000.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Vince Craig Hopkin sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, February 10th. The shares were sold at an average price of $65.59, for a total value of $196,770.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,082 shares of company stock worth $2,701,157. Corporate insiders own 0.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of ON. BlackRock Inc. lifted its position in ON Semiconductor by 0.8% in the 4th quarter. BlackRock Inc. now owns 41,259,697 shares of the semiconductor company’s stock valued at $2,802,357,000 after acquiring an additional 314,351 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of ON Semiconductor by 0.8% during the 3rd quarter. Janus Henderson Group PLC now owns 18,416,987 shares of the semiconductor company’s stock valued at $842,945,000 after purchasing an additional 142,874 shares in the last quarter. Allianz Asset Management GmbH lifted its holdings in shares of ON Semiconductor by 18.0% during the 4th quarter. Allianz Asset Management GmbH now owns 14,591,648 shares of the semiconductor company’s stock worth $991,036,000 after acquiring an additional 2,226,677 shares during the last quarter. ArrowMark Colorado Holdings LLC lifted its stake in ON Semiconductor by 3.2% in the third quarter. ArrowMark Colorado Holdings LLC now owns 6,925,522 shares of the semiconductor company’s stock worth $316,981,000 after purchasing an additional 215,743 shares during the last quarter. Finally, Alliancebernstein L.P. increased its position in shares of ON Semiconductor by 156.3% in the third quarter. Alliancebernstein L.P. now owns 6,612,897 shares of the semiconductor company’s stock valued at $302,672,000 after acquiring an additional 4,032,943 shares during the period. Institutional investors and hedge funds own 92.86% of the company’s stock.

ON opened at $55.13 on Friday. The company has a current ratio of 2.79, a quick ratio of 1.56 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $23.95 billion, a PE ratio of 16.91, a P/E/G ratio of 0.59 and a beta of 1.73. The firm has a 50 day moving average of $57.35 and a two-hundred day moving average of $59.59. ON Semiconductor has a 12-month low of $34.01 and a 12-month high of $71.25.

About ON Semiconductor (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.

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