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ON Semiconductor Corp. (ON) Gains As Market Dips: What You Should Know
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ON Semiconductor Corp. (ON - Free Report) closed the most recent trading day at $88.62, moving +1.26% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.45%. Elsewhere, the Dow lost 0.04%, while the tech-heavy Nasdaq added 3.58%.
Heading into today, shares of the semiconductor components maker had gained 1.04% over the past month, lagging the Computer and Technology sector's gain of 7.46% and the S&P 500's gain of 5.01% in that time.
ON Semiconductor Corp. will be looking to display strength as it nears its next earnings release. In that report, analysts expect ON Semiconductor Corp. to post earnings of $1.21 per share. This would mark a year-over-year decline of 9.7%. Our most recent consensus estimate is calling for quarterly revenue of $2.02 billion, down 3.15% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.87 per share and revenue of $8.12 billion, which would represent changes of -8.63% and -2.5%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for ON Semiconductor Corp.These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 currently a Zacks Rank #3 (Hold).
Looking at its valuation, ON Semiconductor Corp. is holding a Forward P/E ratio of 17.99. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 17.99.
Meanwhile, ON's PEG ratio is currently 3.02. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. ON's industry had an average PEG ratio of 1.7 as of yesterday's close.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 206, which puts it in the bottom 19% 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.
To follow ON in the coming trading sessions, be sure to utilize Zacks.com.
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ON Semiconductor Corp. (ON) Gains As Market Dips: What You Should Know
ON Semiconductor Corp. (ON - Free Report) closed the most recent trading day at $88.62, moving +1.26% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.45%. Elsewhere, the Dow lost 0.04%, while the tech-heavy Nasdaq added 3.58%.
Heading into today, shares of the semiconductor components maker had gained 1.04% over the past month, lagging the Computer and Technology sector's gain of 7.46% and the S&P 500's gain of 5.01% in that time.
ON Semiconductor Corp. will be looking to display strength as it nears its next earnings release. In that report, analysts expect ON Semiconductor Corp. to post earnings of $1.21 per share. This would mark a year-over-year decline of 9.7%. Our most recent consensus estimate is calling for quarterly revenue of $2.02 billion, down 3.15% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.87 per share and revenue of $8.12 billion, which would represent changes of -8.63% and -2.5%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for ON Semiconductor Corp.These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 currently a Zacks Rank #3 (Hold).
Looking at its valuation, ON Semiconductor Corp. is holding a Forward P/E ratio of 17.99. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 17.99.
Meanwhile, ON's PEG ratio is currently 3.02. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. ON's industry had an average PEG ratio of 1.7 as of yesterday's close.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 206, which puts it in the bottom 19% 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.
To follow ON in the coming trading sessions, be sure to utilize Zacks.com.