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ON Semiconductor Corp. (ON) Stock Falls Amid Market Uptick: What Investors Need to Know
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ON Semiconductor Corp. (ON - Free Report) closed at $69.03 in the latest trading session, marking a -0.42% move from the prior day. This move lagged the S&P 500's daily gain of 0.47%. Elsewhere, the Dow saw an upswing of 0.79%, while the tech-heavy Nasdaq appreciated by 0.28%.
Shares of the semiconductor components maker witnessed a loss of 2.94% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 3.88% and the S&P 500's gain of 3.48%.
Market participants will be closely following the financial results of ON Semiconductor Corp. in its upcoming release. The company plans to announce its earnings on October 28, 2024. The company is forecasted to report an EPS of $0.97, showcasing a 30.22% downward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $1.75 billion, indicating a 19.77% downward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $4.01 per share and revenue of $7.13 billion, indicating changes of -22.29% and -13.61%, respectively, compared to the previous year.
Investors might also notice recent changes to analyst estimates for ON Semiconductor Corp. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Currently, ON Semiconductor Corp. is carrying a Zacks Rank of #4 (Sell).
With respect to valuation, ON Semiconductor Corp. is currently being traded at a Forward P/E ratio of 17.29. This denotes a discount relative to the industry's average Forward P/E of 35.61.
One should further note that ON currently holds a PEG ratio of 3.72. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Semiconductor - Analog and Mixed industry had an average PEG ratio of 3.34 as trading concluded yesterday.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 191, positioning it in the bottom 25% of all 250+ industries.
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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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ON Semiconductor Corp. (ON) Stock Falls Amid Market Uptick: What Investors Need to Know
ON Semiconductor Corp. (ON - Free Report) closed at $69.03 in the latest trading session, marking a -0.42% move from the prior day. This move lagged the S&P 500's daily gain of 0.47%. Elsewhere, the Dow saw an upswing of 0.79%, while the tech-heavy Nasdaq appreciated by 0.28%.
Shares of the semiconductor components maker witnessed a loss of 2.94% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 3.88% and the S&P 500's gain of 3.48%.
Market participants will be closely following the financial results of ON Semiconductor Corp. in its upcoming release. The company plans to announce its earnings on October 28, 2024. The company is forecasted to report an EPS of $0.97, showcasing a 30.22% downward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $1.75 billion, indicating a 19.77% downward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $4.01 per share and revenue of $7.13 billion, indicating changes of -22.29% and -13.61%, respectively, compared to the previous year.
Investors might also notice recent changes to analyst estimates for ON Semiconductor Corp. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Currently, ON Semiconductor Corp. is carrying a Zacks Rank of #4 (Sell).
With respect to valuation, ON Semiconductor Corp. is currently being traded at a Forward P/E ratio of 17.29. This denotes a discount relative to the industry's average Forward P/E of 35.61.
One should further note that ON currently holds a PEG ratio of 3.72. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Semiconductor - Analog and Mixed industry had an average PEG ratio of 3.34 as trading concluded yesterday.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 191, positioning it in the bottom 25% of all 250+ industries.
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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.