ON Semiconductor Corp Forecasted to Earn Q3 2019 Earnings of $0.46 Per Share (NASDAQ:ON)

ON Semiconductor Corp (NASDAQ:ON) – Investment analysts at KeyCorp dropped their Q3 2019 earnings estimates for ON Semiconductor in a report released on Monday, April 29th, Zacks Investment Research reports. KeyCorp analyst J. Vinh now expects that the semiconductor company will post earnings per share of $0.46 for the quarter, down from their previous forecast of $0.49. KeyCorp also issued estimates for ON Semiconductor’s FY2019 earnings at $1.84 EPS, Q1 2020 earnings at $0.47 EPS, Q2 2020 earnings at $0.46 EPS, Q3 2020 earnings at $0.51 EPS, Q4 2020 earnings at $0.55 EPS and FY2020 earnings at $1.99 EPS.

ON Semiconductor (NASDAQ:ON) last announced its quarterly earnings data on Saturday, April 27th. The semiconductor company reported $0.43 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.03. ON Semiconductor had a net margin of 10.22% and a return on equity of 26.54%. The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same period last year, the business earned $0.31 EPS. The company’s revenue was up .7% on a year-over-year basis.

A number of other equities research analysts have also weighed in on the stock. BidaskClub lowered shares of ON Semiconductor from a “sell” rating to a “strong sell” rating in a report on Tuesday. ValuEngine lowered shares of ON Semiconductor from a “hold” rating to a “sell” rating in a report on Monday, May 13th. Mizuho raised their price objective on shares of ON Semiconductor from $25.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Jefferies Financial Group upgraded shares of ON Semiconductor from a “hold” rating to a “buy” rating and lifted their price target for the stock from $26.00 to $29.00 in a research note on Tuesday, April 30th. Finally, Longbow Research lowered shares of ON Semiconductor from a “buy” rating to a “neutral” rating in a research note on Wednesday, April 17th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $25.11.

Shares of ON opened at $18.77 on Wednesday. ON Semiconductor has a twelve month low of $14.55 and a twelve month high of $26.38. The firm has a market capitalization of $8.35 billion, a PE ratio of 9.58, a PEG ratio of 1.57 and a beta of 2.05. The company has a current ratio of 2.31, a quick ratio of 1.38 and a debt-to-equity ratio of 0.82.

In other news, insider Bernard Raymond Colpitts, Jr. sold 3,069 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $23.04, for a total transaction of $70,709.76. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP George H. Cave sold 15,000 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $22.84, for a total transaction of $342,600.00. The disclosure for this sale can be found here. Insiders have sold 38,069 shares of company stock worth $864,410 over the last three months. Corporate insiders own 1.40% of the company’s stock.

Large investors have recently bought and sold shares of the business. Front Row Advisors LLC raised its position in shares of ON Semiconductor by 2,244.3% during the 1st quarter. Front Row Advisors LLC now owns 1,430 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 1,369 shares during the last quarter. Covenant Partners LLC acquired a new position in shares of ON Semiconductor during the 1st quarter worth about $246,000. HighTower Advisors LLC raised its position in shares of ON Semiconductor by 24.2% during the 1st quarter. HighTower Advisors LLC now owns 20,371 shares of the semiconductor company’s stock worth $414,000 after purchasing an additional 3,972 shares during the last quarter. Morgens Waterfall Vintiadis & Co. Inc. raised its position in shares of ON Semiconductor by 12.6% during the 1st quarter. Morgens Waterfall Vintiadis & Co. Inc. now owns 236,500 shares of the semiconductor company’s stock worth $4,865,000 after purchasing an additional 26,500 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC raised its position in shares of ON Semiconductor by 217.7% during the 1st quarter. Schonfeld Strategic Advisors LLC now owns 63,926 shares of the semiconductor company’s stock worth $1,315,000 after purchasing an additional 43,802 shares during the last quarter. 95.29% of the stock is currently owned by institutional investors.

ON Semiconductor Company Profile

ON Semiconductor Corporation manufactures and sells semiconductor components for various electronic devices worldwide. The company operates in three segments: Power Solutions Group, Analog Solutions Group, and Intelligent Sensing Group. The Power Solutions Group segment offers discrete, module, and integrated semiconductor products for various applications, such as power switching and conversion, signal conditioning, circuit protection, signal amplification, and voltage reference.

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Earnings History and Estimates for ON Semiconductor (NASDAQ:ON)

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