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ON Semiconductor Corp. (ON) Stock Slides as Market Rises: Facts to Know Before You Trade
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ON Semiconductor Corp. (ON - Free Report) closed the latest trading day at $70.19, indicating a -1.32% change from the previous session's end. This change lagged the S&P 500's 1.25% gain on the day. At the same time, the Dow added 0.97%, and the tech-heavy Nasdaq gained 1.3%.
The semiconductor components maker's stock has dropped by 10.31% in the past month, falling short of the Computer and Technology sector's gain of 2.42% and the S&P 500's gain of 1.58%.
The investment community will be closely monitoring the performance of ON Semiconductor Corp. in its forthcoming earnings report. The company is scheduled to release its earnings on February 5, 2024. The company's earnings per share (EPS) are projected to be $1.21, reflecting an 8.33% decrease from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $2 billion, down 4.73% from the prior-year quarter.
Investors should also take note of any recent adjustments 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.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.26% lower. As of now, ON Semiconductor Corp. holds a Zacks Rank of #3 (Hold).
Looking at valuation, ON Semiconductor Corp. is presently trading at a Forward P/E ratio of 14.74. For comparison, its industry has an average Forward P/E of 27.28, which means ON Semiconductor Corp. is trading at a discount to the group.
We can also see that ON currently has a PEG ratio of 1.26. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Semiconductor - Analog and Mixed industry had an average PEG ratio of 2.82 as trading concluded yesterday.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 220, this industry ranks in the bottom 13% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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 Corp. (ON) Stock Slides as Market Rises: Facts to Know Before You Trade
ON Semiconductor Corp. (ON - Free Report) closed the latest trading day at $70.19, indicating a -1.32% change from the previous session's end. This change lagged the S&P 500's 1.25% gain on the day. At the same time, the Dow added 0.97%, and the tech-heavy Nasdaq gained 1.3%.
The semiconductor components maker's stock has dropped by 10.31% in the past month, falling short of the Computer and Technology sector's gain of 2.42% and the S&P 500's gain of 1.58%.
The investment community will be closely monitoring the performance of ON Semiconductor Corp. in its forthcoming earnings report. The company is scheduled to release its earnings on February 5, 2024. The company's earnings per share (EPS) are projected to be $1.21, reflecting an 8.33% decrease from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $2 billion, down 4.73% from the prior-year quarter.
Investors should also take note of any recent adjustments 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.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.26% lower. As of now, ON Semiconductor Corp. holds a Zacks Rank of #3 (Hold).
Looking at valuation, ON Semiconductor Corp. is presently trading at a Forward P/E ratio of 14.74. For comparison, its industry has an average Forward P/E of 27.28, which means ON Semiconductor Corp. is trading at a discount to the group.
We can also see that ON currently has a PEG ratio of 1.26. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Semiconductor - Analog and Mixed industry had an average PEG ratio of 2.82 as trading concluded yesterday.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 220, this industry ranks in the bottom 13% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.