ON Semiconductor Corp (NASDAQ:ON) Expected to Post Quarterly Sales of $2.02 Billion

Equities research analysts predict that ON Semiconductor Corp (NASDAQ:ON – Get Rating) will post $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 announce its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that ON Semiconductor will report full year sales of $7.99 billion for the current year, with estimates ranging from $7.86 billion to $8.05 billion. For the next financial year, analysts anticipate that the company will report sales of $8.33 billion, with estimates ranging from $7.97 billion to $8.55 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow ON Semiconductor.

ON Semiconductor (NASDAQ:ON – Get Rating) last released 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 business had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.91 billion. ON Semiconductor had a net margin of 20.13% and a return on equity of 38.08%. The business’s revenue for the quarter was up 31.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.35 EPS.

ON has been the topic of several recent research reports. Mizuho upped their price objective on shares of ON Semiconductor from $65.00 to $68.00 in a report on Tuesday, May 3rd. Truist Financial lowered their price target on shares of ON Semiconductor from $73.00 to $65.00 and set a “buy” rating on the stock in a report on Friday, April 8th. Susquehanna Bancshares increased their price target on shares of ON Semiconductor from $65.00 to $75.00 and gave the stock a “positive” rating in a report on Tuesday, February 8th. StockNews.com assumed coverage on shares of ON Semiconductor in a report on Thursday, March 31st. They set a “buy” rating on the stock. Finally, Morgan Stanley increased their price target on shares of ON Semiconductor from $62.00 to $68.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $69.58.

In related news, Director Paul Anthony Mascarenas sold 20,000 shares of the company’s stock in a transaction dated Wednesday, March 16th. The shares were sold at an average price of $60.00, for a total value of $1,200,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Vince Craig Hopkin sold 6,296 shares of the company’s stock in a transaction dated Tuesday, May 10th. The shares were sold at an average price of $52.10, for a total transaction of $328,021.60. Following the completion of the sale, the executive vice president now directly owns 169,073 shares of the company’s stock, valued at approximately $8,808,703.30. The disclosure for this sale can be found here. Insiders sold 46,378 shares of company stock valued at $2,832,409 over the last quarter. Company insiders own 0.40% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Cedar Mountain Advisors LLC purchased a new position in ON Semiconductor during the first quarter worth about $25,000. Tsfg LLC purchased a new position in shares of ON Semiconductor in the fourth quarter valued at approximately $27,000. IronBridge Private Wealth LLC purchased a new position in shares of ON Semiconductor in the fourth quarter valued at approximately $27,000. Allworth Financial LP boosted its stake in shares of ON Semiconductor by 265.6% in the fourth quarter. Allworth Financial LP now owns 457 shares of the semiconductor company’s stock valued at $31,000 after purchasing an additional 332 shares during the period. Finally, IndexIQ Advisors LLC purchased a new position in shares of ON Semiconductor in the first quarter valued at approximately $40,000. 92.86% of the stock is owned by hedge funds and other institutional investors.

ON stock opened at $61.14 on Friday. The firm’s fifty day simple moving average is $56.47 and its 200-day simple moving average is $59.93. The company has a market capitalization of $26.57 billion, a P/E ratio of 18.75 and a beta of 1.73. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.79 and a quick ratio of 1.83. ON Semiconductor has a 12 month low of $34.01 and a 12 month high of $71.25.

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.

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