ON Semiconductor Corp. (ON) Ascends But Remains Behind Market: Some Facts to Note
The most recent trading session ended with ON Semiconductor Corp. (ON) standing at $75.78, reflecting a +0.28% shift from the previouse trading day's closing. This change lagged the S&P 500's 0.32% gain on the day. Meanwhile, the Dow gained 0.68%, and the Nasdaq, a tech-heavy index, added 0.2%.
Shares of the semiconductor components maker witnessed a loss of 2.64% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 6.04% and the S&P 500's gain of 5.11%.
The investment community will be closely monitoring the performance of ON Semiconductor Corp. in its forthcoming earnings report. The company is predicted to post an EPS of $1.05, indicating a 11.76% decline compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $1.85 billion, down 5.52% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $4.34 per share and a revenue of $7.56 billion, representing changes of -15.89% and -8.37%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for ON Semiconductor Corp. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 has shifted 0.7% downward. Currently, ON Semiconductor Corp. is carrying a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that ON Semiconductor Corp. has a Forward P/E ratio of 17.42 right now. This signifies a discount in comparison to the average Forward P/E of 32.71 for its industry.
Also, we should mention that ON has a PEG ratio of 7.32. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The average PEG ratio for the Semiconductor - Analog and Mixed industry stood at 2.74 at the close of the market yesterday.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 195, finds itself in the bottom 23% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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ON Semiconductor Corporation (ON) : Free Stock Analysis Report
