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ON Semiconductor Corp. (ON) Suffers a Larger Drop Than the General Market: Key Insights
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In the latest trading session, ON Semiconductor Corp. (ON - Free Report) closed at $72.31, marking a -0.19% move from the previous day. The stock's change was less than the S&P 500's daily loss of 0.11%. Elsewhere, the Dow lost 0.22%, while the tech-heavy Nasdaq lost 0.23%.
Heading into today, shares of the semiconductor components maker had gained 1.67% over the past month, lagging the Computer and Technology sector's gain of 6.52% and the S&P 500's gain of 3.51% in that time.
Market participants will be closely following the financial results of ON Semiconductor Corp. in its upcoming release. On that day, ON Semiconductor Corp. is projected to report earnings of $0.93 per share, which would represent a year-over-year decline of 30.08%. Our most recent consensus estimate is calling for quarterly revenue of $1.73 billion, down 17.32% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $3.83 per share and a revenue of $7.2 billion, representing changes of -25.78% and -12.78%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for ON Semiconductor Corp. These revisions typically reflect the latest short-term business trends, which can change frequently. 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 capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.83% lower within the past month. Currently, ON Semiconductor Corp. is carrying a Zacks Rank of #3 (Hold).
Digging into valuation, ON Semiconductor Corp. currently has a Forward P/E ratio of 18.93. For comparison, its industry has an average Forward P/E of 38.19, which means ON Semiconductor Corp. is trading at a discount to the group.
It is also worth noting that ON currently has a PEG ratio of 3.3. 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. ON's industry had an average PEG ratio of 3.33 as of yesterday's close.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 152, finds itself in the bottom 40% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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 Corp. (ON) Suffers a Larger Drop Than the General Market: Key Insights
In the latest trading session, ON Semiconductor Corp. (ON - Free Report) closed at $72.31, marking a -0.19% move from the previous day. The stock's change was less than the S&P 500's daily loss of 0.11%. Elsewhere, the Dow lost 0.22%, while the tech-heavy Nasdaq lost 0.23%.
Heading into today, shares of the semiconductor components maker had gained 1.67% over the past month, lagging the Computer and Technology sector's gain of 6.52% and the S&P 500's gain of 3.51% in that time.
Market participants will be closely following the financial results of ON Semiconductor Corp. in its upcoming release. On that day, ON Semiconductor Corp. is projected to report earnings of $0.93 per share, which would represent a year-over-year decline of 30.08%. Our most recent consensus estimate is calling for quarterly revenue of $1.73 billion, down 17.32% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $3.83 per share and a revenue of $7.2 billion, representing changes of -25.78% and -12.78%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for ON Semiconductor Corp. These revisions typically reflect the latest short-term business trends, which can change frequently. 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 capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.83% lower within the past month. Currently, ON Semiconductor Corp. is carrying a Zacks Rank of #3 (Hold).
Digging into valuation, ON Semiconductor Corp. currently has a Forward P/E ratio of 18.93. For comparison, its industry has an average Forward P/E of 38.19, which means ON Semiconductor Corp. is trading at a discount to the group.
It is also worth noting that ON currently has a PEG ratio of 3.3. 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. ON's industry had an average PEG ratio of 3.33 as of yesterday's close.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 152, finds itself in the bottom 40% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.