Onsemi (NASDAQ:ON) Issues Q4 Earnings Guidance

Onsemi (NASDAQ:ON) issued an update on its fourth quarter earnings guidance on Monday morning. The company provided earnings per share guidance of $0.92-1.04 for the period, compared to the consensus earnings per share estimate of $1.00. The company issued revenue guidance of $1.71-1.81 billion, compared to the consensus revenue estimate of $1.77 billion. Onsemi also updated its Q4 2024 guidance to 0.920-1.040 EPS.

Analysts Set New Price Targets

Several research firms have commented on ON. StockNews.com downgraded shares of Onsemi from a “hold” rating to a “sell” rating in a research note on Monday, August 26th. Deutsche Bank Aktiengesellschaft boosted their target price on Onsemi from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Mizuho set a $85.00 price objective on Onsemi in a research note on Friday, October 18th. KeyCorp reduced their target price on shares of Onsemi from $95.00 to $90.00 and set an “overweight” rating on the stock in a report on Tuesday, October 8th. Finally, Citigroup cut shares of Onsemi from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $85.00 to $77.00 in a report on Monday, July 15th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $85.74.

Onsemi Stock Performance

Shares of ON opened at $71.25 on Monday. The company’s 50 day simple moving average is $71.63 and its 200-day simple moving average is $71.41. Onsemi has a 12-month low of $59.34 and a 12-month high of $86.77. The firm has a market cap of $30.65 billion, a PE ratio of 14.54, a price-to-earnings-growth ratio of 3.57 and a beta of 1.65. The company has a current ratio of 3.01, a quick ratio of 1.95 and a debt-to-equity ratio of 0.31.

Onsemi (NASDAQ:ON) last released its quarterly earnings results on Monday, July 29th. The semiconductor company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. The firm had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.73 billion. Onsemi had a return on equity of 25.48% and a net margin of 24.84%. The business’s revenue was down 17.2% on a year-over-year basis. During the same quarter last year, the company posted $1.33 earnings per share. As a group, equities analysts predict that Onsemi will post 4.01 EPS for the current year.

Insider Buying and Selling at Onsemi

In related news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi stock in a transaction on Monday, September 16th. The shares were sold at an average price of $70.80, for a total value of $106,200.00. Following the transaction, the chief executive officer now directly owns 840,620 shares in the company, valued at $59,515,896. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Hassane El-Khoury sold 1,500 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $70.80, for a total value of $106,200.00. Following the completion of the sale, the chief executive officer now owns 840,620 shares in the company, valued at $59,515,896. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Simon Keeton sold 30,939 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $77.94, for a total value of $2,411,385.66. Following the transaction, the insider now owns 231,092 shares in the company, valued at $18,011,310.48. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 33,939 shares of company stock worth $2,626,651. 0.31% of the stock is currently owned by insiders.

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.