Yahoo Finance ON Semiconductor Corp. (ON) Gains As Market Dips: What You Should Know
In the latest trading session, ON Semiconductor Corp. (ON) closed at $76.53, marking a +1.14% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.16%. Elsewhere, the Dow lost 0.12%, while the tech-heavy Nasdaq lost 3.64%.
Heading into today, shares of the semiconductor components maker had lost 2.65% over the past month, lagging the Computer and Technology sector's gain of 6.7% and the S&P 500's gain of 0.07% in that time.
Wall Street will be looking for positivity from ON Semiconductor Corp. as it approaches its next earnings report date. In that report, analysts expect ON Semiconductor Corp. to post earnings of $1.09 per share. This would mark a year-over-year decline of 10.66%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.92 billion, down 1.22% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.42 per share and revenue of $7.84 billion. These totals would mark changes of -17.07% and -5.78%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for ON Semiconductor Corp.Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. ON Semiconductor Corp. is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that ON Semiconductor Corp. has a Forward P/E ratio of 17.13 right now. For comparison, its industry has an average Forward P/E of 17.13, which means ON Semiconductor Corp. is trading at a no noticeable deviation to the group.
It is also worth noting that ON currently has a PEG ratio of 4.66. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Semiconductor - Analog and Mixed stocks are, on average, holding a PEG ratio of 1.42 based on yesterday's closing prices.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 86, which puts it in the top 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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ON Semiconductor Corporation (ON) : Free Stock Analysis Report
