Onsemi (NASDAQ:ON) Issues Q2 Earnings Guidance

Onsemi (NASDAQ:ON) issued an update on its second quarter earnings guidance on Monday morning. The company provided earnings per share guidance of $0.86-0.98 for the period, compared to the consensus earnings per share estimate of $1.00. The company issued revenue guidance of $1.68-1.78 billion, compared to the consensus revenue estimate of $1.82 billion. Onsemi also updated its Q2 2024 guidance to 0.860-0.980 EPS.

Onsemi Trading Down 1.6 %

NASDAQ:ON opened at $69.01 on Thursday. The stock has a market cap of $29.69 billion, a PE ratio of 14.08, a price-to-earnings-growth ratio of 8.39 and a beta of 1.78. Onsemi has a fifty-two week low of $59.34 and a fifty-two week high of $111.35. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.87 and a quick ratio of 1.74. The stock’s 50-day moving average is $72.80 and its two-hundred day moving average is $74.99.

Onsemi (NASDAQ:ON) last issued its earnings results on Monday, April 29th. The semiconductor company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.04. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.85 billion. Onsemi had a return on equity of 28.86% and a net margin of 26.67%. The business’s revenue was down 4.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.19 EPS. As a group, equities research analysts forecast that Onsemi will post 4.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

ON has been the subject of a number of recent analyst reports. Morgan Stanley decreased their price target on shares of Onsemi from $80.00 to $70.00 and set an equal weight rating for the company in a report on Monday, April 22nd. Wells Fargo & Company lowered their target price on Onsemi from $110.00 to $95.00 and set an overweight rating on the stock in a report on Tuesday, April 23rd. B. Riley reiterated a buy rating and set a $103.00 price target (down from $115.00) on shares of Onsemi in a report on Tuesday. StockNews.com upgraded shares of Onsemi from a sell rating to a hold rating in a research note on Wednesday, February 14th. Finally, Roth Mkm upped their price objective on shares of Onsemi from $75.00 to $90.00 and gave the company a buy rating in a research report on Tuesday, February 6th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $90.24.

Onsemi Company Profile

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.