Onsemi (NASDAQ:ON – Get Free Report) issued an update on its second quarter earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $0.86-0.98 for the period, compared to the consensus estimate of $1.00. The company issued revenue guidance of $1.68-1.78 billion, compared to the consensus revenue estimate of $1.82 billion. Onsemi also updated its Q2 2024 guidance to 0.860-0.980 EPS.
Analyst Ratings Changes
Several equities research analysts have weighed in on the company. StockNews.com raised Onsemi from a sell rating to a hold rating in a report on Wednesday, February 14th. KeyCorp lowered their target price on shares of Onsemi from $100.00 to $90.00 and set an overweight rating for the company in a research note on Tuesday. The Goldman Sachs Group cut their price target on shares of Onsemi from $91.00 to $81.00 and set a buy rating on the stock in a research note on Tuesday, April 16th. Needham & Company LLC reiterated a buy rating and set a $92.00 price objective on shares of Onsemi in a research note on Tuesday. Finally, TD Cowen 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. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $90.24.
Check Out Our Latest Analysis on ON
Onsemi Stock Performance
Onsemi (NASDAQ:ON – Get Free Report) last issued its quarterly earnings data on Monday, April 29th. The semiconductor company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04. Onsemi had a net margin of 26.67% and a return on equity of 28.86%. The business had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter in the prior year, the firm posted $1.19 earnings per share. The company’s revenue was down 4.9% compared to the same quarter last year. Equities research analysts anticipate that Onsemi will post 4.12 earnings per share for the current year.
About Onsemi
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.
Featured Stories
- Five stocks we like better than Onsemi
- Profitably Trade Stocks at 52-Week Highs
- Wall Street Believes in First Solar Stock’s Bull Cycle
- Find and Profitably Trade Stocks at 52-Week Lows
- AMD is Down 35%. Now is the Time to Buy the Dip
- What is the S&P 500 and How It is Distinct from Other Indexes
- Amazon Stands Tall: New Highs Are in Sight
Receive News & Ratings for Onsemi Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Onsemi and related companies with MarketBeat.com's FREE daily email newsletter.