Onsemi (NASDAQ:ON) Issues Q4 2024 Earnings Guidance

Onsemi (NASDAQ:ON) updated its fourth quarter 2024 earnings guidance on Monday. The company provided earnings per share guidance of 0.920-1.040 for the period, compared to the consensus earnings per share estimate of 1.000. The company issued revenue guidance of $1.7 billion-$1.8 billion. Onsemi also updated its Q4 guidance to $0.92-1.04 EPS.

Analysts Set New Price Targets

Several equities analysts have recently commented on ON shares. Bank of America boosted their target price on shares of Onsemi from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Mizuho set a $85.00 target price on Onsemi in a report on Friday, October 18th. BNP Paribas lowered their price target on Onsemi from $60.00 to $55.00 in a report on Friday, October 25th. Roth Mkm lifted their target price on Onsemi from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Finally, JPMorgan Chase & Co. increased their target price on shares of Onsemi from $85.00 to $88.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Two equities research 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’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $85.91.

Onsemi Stock Down 5.4 %

ON traded down $3.98 during midday trading on Thursday, hitting $69.65. The company had a trading volume of 3,958,348 shares, compared to its average volume of 6,772,385. The company has a market capitalization of $29.83 billion, a price-to-earnings ratio of 18.27, a PEG ratio of 3.82 and a beta of 1.65. The stock’s 50 day moving average price is $71.43 and its 200 day moving average price is $71.49. The company has a quick ratio of 1.95, a current ratio of 3.01 and a debt-to-equity ratio of 0.31. Onsemi has a 52 week low of $59.34 and a 52 week high of $86.77.

Onsemi (NASDAQ:ON) last posted its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.02. The business had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.75 billion. Onsemi had a return on equity of 25.48% and a net margin of 24.84%. The firm’s revenue for the quarter was down 19.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.39 EPS. On average, research analysts anticipate that Onsemi will post 4.01 earnings per share for the current fiscal year.

Insider Transactions at Onsemi

In other news, CEO Hassane El-Khoury sold 1,500 shares of the firm’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 value of $109,065.00. Following the transaction, the chief executive officer now owns 839,210 shares in the company, valued at $61,018,959.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.31% of the stock is currently owned by insiders.

About Onsemi

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.