FY2024 Earnings Forecast for Onsemi Issued By Zacks Research

Onsemi (NASDAQ:ON) – Stock analysts at Zacks Research decreased their FY2024 earnings per share estimates for shares of Onsemi in a research note issued to investors on Friday, November 15th. Zacks Research analyst R. Department now expects that the semiconductor company will post earnings per share of $4.00 for the year, down from their prior forecast of $4.02. The consensus estimate for Onsemi’s current full-year earnings is $4.00 per share. Zacks Research also issued estimates for Onsemi’s Q4 2024 earnings at $0.97 EPS, Q1 2025 earnings at $0.93 EPS, Q2 2025 earnings at $1.02 EPS, Q3 2025 earnings at $1.14 EPS, Q4 2025 earnings at $1.21 EPS, FY2025 earnings at $4.30 EPS, Q1 2026 earnings at $1.15 EPS, Q2 2026 earnings at $1.24 EPS, Q3 2026 earnings at $1.34 EPS and FY2026 earnings at $5.15 EPS.

ON has been the topic of a number of other research reports. TD Cowen reduced their price objective on Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Mizuho set a $85.00 price target on Onsemi in a report on Friday, October 18th. Needham & Company LLC dropped their price objective on shares of Onsemi from $92.00 to $87.00 and set a “buy” rating on the stock in a research note on Tuesday, October 29th. JPMorgan Chase & Co. upped their target price on shares of Onsemi from $85.00 to $88.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and set a $75.00 price target on shares of Onsemi in a research note on Tuesday, October 29th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, Onsemi currently has an average rating of “Moderate Buy” and a consensus price target of $86.30.

Onsemi Stock Performance

NASDAQ:ON opened at $66.48 on Monday. Onsemi has a twelve month low of $59.34 and a twelve month high of $86.77. The firm has a market capitalization of $28.31 billion, a price-to-earnings ratio of 16.50, a PEG ratio of 6.94 and a beta of 1.65. The company has a current ratio of 3.07, a quick ratio of 2.02 and a debt-to-equity ratio of 0.30. The firm’s fifty day simple moving average is $70.37 and its 200 day simple moving average is $71.87.

Onsemi (NASDAQ:ON) last announced its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.02. Onsemi had a net margin of 23.80% and a return on equity of 22.38%. The firm had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.75 billion. During the same period in the previous year, the company posted $1.39 earnings per share. Onsemi’s revenue was down 19.2% compared to the same quarter last year.

Insider Transactions at Onsemi

In related news, CEO Hassane El-Khoury sold 1,500 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $72.71, for a total transaction of $109,065.00. Following the transaction, the chief executive officer now directly owns 839,210 shares of the company’s stock, valued at approximately $61,018,959.10. The trade was a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.31% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Onsemi

Several institutional investors and hedge funds have recently bought and sold shares of ON. Coldstream Capital Management Inc. boosted its stake in shares of Onsemi by 19.6% during the 3rd quarter. Coldstream Capital Management Inc. now owns 6,498 shares of the semiconductor company’s stock valued at $468,000 after buying an additional 1,066 shares during the period. Geode Capital Management LLC raised its holdings in shares of Onsemi by 3.0% during the third quarter. Geode Capital Management LLC now owns 10,602,000 shares of the semiconductor company’s stock worth $767,646,000 after acquiring an additional 309,445 shares in the last quarter. M&T Bank Corp boosted its position in Onsemi by 6.9% during the third quarter. M&T Bank Corp now owns 32,519 shares of the semiconductor company’s stock valued at $2,362,000 after purchasing an additional 2,110 shares during the last quarter. Public Employees Retirement System of Ohio grew its stake in Onsemi by 18.7% in the third quarter. Public Employees Retirement System of Ohio now owns 194,409 shares of the semiconductor company’s stock valued at $14,116,000 after purchasing an additional 30,695 shares in the last quarter. Finally, Hodges Capital Management Inc. increased its holdings in Onsemi by 0.3% in the third quarter. Hodges Capital Management Inc. now owns 183,314 shares of the semiconductor company’s stock worth $13,310,000 after buying an additional 537 shares during the last quarter. Hedge funds and other institutional investors own 97.70% of the company’s stock.

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.