ON Semiconductor Corp. (ON) Advances But Underperforms Market: Key Facts
In the latest market close, ON Semiconductor Corp. (ON) reached $73.87, with a +0.89% movement compared to the previous day. This change lagged the S&P 500's 1.23% gain on the day. Elsewhere, the Dow gained 1.06%, while the tech-heavy Nasdaq added 1.7%.
Shares of the semiconductor components maker have depreciated by 12.47% over the course of the past month, underperforming the Computer and Technology sector's gain of 1.98% and the S&P 500's gain of 0.94%.
The investment community will be closely monitoring the performance of ON Semiconductor Corp. in its forthcoming earnings report. The company is scheduled to release its earnings on February 5, 2024. It is anticipated that the company will report an EPS of $1.21, marking an 8.33% fall compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $2 billion, indicating a 4.83% decline compared to the corresponding quarter of the prior year.
Investors might also notice recent changes to analyst estimates for ON Semiconductor Corp. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.18% lower within the past month. ON Semiconductor Corp. presently features a Zacks Rank of #3 (Hold).
In the context of valuation, ON Semiconductor Corp. is at present trading with a Forward P/E ratio of 15.02. This indicates a discount in contrast to its industry's Forward P/E of 27.17.
Also, we should mention that ON has a PEG ratio of 3.72. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Semiconductor - Analog and Mixed industry held an average PEG ratio of 3.71.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 216, which puts it in the bottom 15% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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ON Semiconductor Corporation (ON) : Free Stock Analysis Report
