Q3 2024 EPS Estimates for Onsemi (NASDAQ:ON) Increased by Analyst

Onsemi (NASDAQ:ON) – Investment analysts at Roth Capital boosted their Q3 2024 earnings per share (EPS) estimates for Onsemi in a report released on Monday, July 29th. Roth Capital analyst S. Desilva now anticipates that the semiconductor company will post earnings per share of $0.97 for the quarter, up from their prior forecast of $0.95. The consensus estimate for Onsemi’s current full-year earnings is $4.01 per share. Roth Capital also issued estimates for Onsemi’s FY2024 earnings at $4.03 EPS.

A number of other equities research analysts have also recently issued reports on ON. BNP Paribas reaffirmed an “underperform” rating and issued a $55.00 price objective on shares of Onsemi in a research note on Friday, April 19th. Truist Financial increased their price objective on Onsemi from $85.00 to $97.00 and gave the company a “buy” rating in a research note on Tuesday. KeyCorp lowered their price target on shares of Onsemi from $90.00 to $85.00 and set an “overweight” rating for the company in a report on Tuesday, July 9th. Morgan Stanley lowered shares of Onsemi from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $70.00 to $65.00 in a report on Thursday, July 11th. Finally, The Goldman Sachs Group dropped their target price on shares of Onsemi from $91.00 to $81.00 and set a “buy” rating for the company in a report on Tuesday, April 16th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, Onsemi presently has an average rating of “Hold” and an average price target of $85.61.

Onsemi Price Performance

Shares of NASDAQ:ON opened at $67.95 on Thursday. Onsemi has a one year low of $59.34 and a one year high of $104.87. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.01 and a quick ratio of 1.87. The firm has a market capitalization of $29.11 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 3.40 and a beta of 1.69. The company’s fifty day moving average price is $72.60 and its 200-day moving average price is $73.18.

Onsemi (NASDAQ:ON) last posted its quarterly earnings data on Monday, July 29th. The semiconductor company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.04. Onsemi had a return on equity of 25.48% and a net margin of 24.84%. The company had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same quarter last year, the company earned $1.33 earnings per share. The firm’s quarterly revenue was down 17.2% on a year-over-year basis.

Insider Activity

In other Onsemi news, Director Paul Anthony Mascarenas sold 911 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $74.46, for a total value of $67,833.06. Following the completion of the sale, the director now owns 48,929 shares of the company’s stock, valued at $3,643,253.34. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Onsemi news, CFO Trent Thad sold 38,000 shares of the business’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $72.55, for a total transaction of $2,756,900.00. Following the sale, the chief financial officer now owns 331,829 shares in the company, valued at approximately $24,074,193.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Paul Anthony Mascarenas sold 911 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $74.46, for a total value of $67,833.06. Following the completion of the transaction, the director now owns 48,929 shares of the company’s stock, valued at $3,643,253.34. The disclosure for this sale can be found here. In the last quarter, insiders sold 69,850 shares of company stock worth $5,236,119. Insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Oak Thistle LLC acquired a new position in Onsemi in the fourth quarter valued at approximately $516,000. State of Michigan Retirement System boosted its holdings in Onsemi by 3.6% during the fourth quarter. State of Michigan Retirement System now owns 140,536 shares of the semiconductor company’s stock worth $11,739,000 after buying an additional 4,900 shares in the last quarter. KG&L Capital Management LLC purchased a new position in Onsemi in the fourth quarter valued at $390,000. KRS Capital Management LLC raised its position in shares of Onsemi by 6.7% in the fourth quarter. KRS Capital Management LLC now owns 8,390 shares of the semiconductor company’s stock worth $701,000 after acquiring an additional 525 shares during the period. Finally, International Assets Investment Management LLC boosted its stake in shares of Onsemi by 7,749.6% during the 4th quarter. International Assets Investment Management LLC now owns 83,363 shares of the semiconductor company’s stock worth $6,963,000 after acquiring an additional 82,301 shares in the last quarter. Hedge funds and other institutional investors own 97.70% of the company’s stock.

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.