Onsemi (NASDAQ:ON) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Onsemi (NASDAQ:ONGet Free Report) released its quarterly earnings data on Monday. The semiconductor company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.02, Briefing.com reports. Onsemi had a return on equity of 25.48% and a net margin of 24.84%. The firm had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.75 billion. During the same period last year, the business posted $1.39 EPS. Onsemi’s quarterly revenue was down 19.2% on a year-over-year basis. Onsemi updated its Q4 guidance to $0.92-1.04 EPS and its Q4 2024 guidance to 0.920-1.040 EPS.

Onsemi Stock Down 2.1 %

Shares of NASDAQ ON opened at $72.10 on Thursday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.95 and a current ratio of 3.01. The firm has a market cap of $30.88 billion, a price-to-earnings ratio of 18.27, a PEG ratio of 3.82 and a beta of 1.65. Onsemi has a 1 year low of $59.34 and a 1 year high of $86.77. The stock’s 50-day simple moving average is $71.43 and its 200-day simple moving average is $71.49.

Insider Buying and Selling at Onsemi

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $72.71, for a total transaction of $109,065.00. Following the sale, the chief executive officer now owns 839,210 shares in the company, valued at $61,018,959.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.31% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Mizuho set a $85.00 price objective on Onsemi in a research note on Friday, October 18th. Benchmark reissued a “buy” rating and set a $90.00 price target on shares of Onsemi in a research report on Tuesday. Robert W. Baird raised their price target on Onsemi from $70.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday. StockNews.com raised Onsemi from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, Bank of America raised their price target on Onsemi from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $85.91.

Read Our Latest Research Report on ON

Onsemi Company Profile

(Get Free Report)

onsemi is engaged in disruptive innovations and also a supplier of power and analog semiconductors. The firm offers vehicle electrification and safety, sustainable energy grids, industrial automation, and 5G and cloud infrastructure, with a focus on automotive and industrial end-markets. It operates through the following segments: Power Solutions Group, Advanced Solutions Group, and Intelligent Sensing Group.

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Earnings History for Onsemi (NASDAQ:ON)

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