Onsemi (NASDAQ:ON) Announces Earnings Results

Onsemi (NASDAQ:ON) issued its quarterly earnings results on Monday. The semiconductor company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04, Briefing.com reports. Onsemi had a return on equity of 28.86% and a net margin of 26.67%. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same quarter in the prior year, the company posted $1.19 EPS. The business’s revenue for the quarter was down 4.9% compared to the same quarter last year. Onsemi updated its Q2 guidance to $0.86-0.98 EPS and its Q2 2024 guidance to 0.860-0.980 EPS.

Onsemi Stock Down 1.7 %

Shares of Onsemi stock traded down $1.16 during trading hours on Wednesday, hitting $69.00. 2,391,846 shares of the company’s stock traded hands, compared to its average volume of 7,495,065. The company has a market cap of $29.66 billion, a PE ratio of 14.21, a PEG ratio of 7.03 and a beta of 1.80. Onsemi has a twelve month low of $59.34 and a twelve month high of $111.35. The stock has a 50 day simple moving average of $72.80 and a 200-day simple moving average of $74.99. The company has a quick ratio of 1.74, a current ratio of 2.87 and a debt-to-equity ratio of 0.32.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ON shares. Rosenblatt Securities reduced their price target on Onsemi from $75.00 to $70.00 and set a “neutral” rating on the stock in a research note on Tuesday. TD Cowen reduced their price target on Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday. B. Riley reissued a “buy” rating and set a $103.00 price target (down previously from $115.00) on shares of Onsemi in a research note on Tuesday. Deutsche Bank Aktiengesellschaft cut their target price on Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Roth Mkm increased their target price on Onsemi from $75.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.