ON Semiconductor Corp. (ON) Stock Falls Amid Market Uptick: What Investors Need to Know
ON Semiconductor Corp. (ON) closed the latest trading day at $75.70, indicating a -0.66% change from the previous session's end. The stock fell short of the S&P 500, which registered a gain of 0.18% for the day. Meanwhile, the Dow gained 0.07%, and the Nasdaq, a tech-heavy index, added 0.1%.
The the stock of semiconductor components maker has risen by 0.47% in the past month, lagging the Computer and Technology sector's gain of 1.84% and the S&P 500's gain of 2.75%.
The investment community will be paying close attention to the earnings performance of ON Semiconductor Corp. in its upcoming release. The company's earnings per share (EPS) are projected to be $1.21, reflecting an 8.33% decrease from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $2 billion, down 4.83% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for ON Semiconductor Corp. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.05% increase. Currently, ON Semiconductor Corp. is carrying a Zacks Rank of #4 (Sell).
Looking at its valuation, ON Semiconductor Corp. is holding a Forward P/E ratio of 15.59. This valuation marks a discount compared to its industry's average Forward P/E of 27.08.
Investors should also note that ON has a PEG ratio of 3.86 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. ON's industry had an average PEG ratio of 3.46 as of yesterday's close.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 204, putting it in the bottom 20% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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ON Semiconductor Corporation (ON) : Free Stock Analysis Report
