Onsemi (NASDAQ:ON) Releases Q4 Earnings Guidance

Onsemi (NASDAQ:ON) issued an update on its fourth quarter earnings guidance on Monday morning. The company provided EPS guidance of $0.92-1.04 for the period, compared to the consensus EPS estimate of $1.00. The company issued revenue guidance of $1.71-1.81 billion, compared to the consensus revenue estimate of $1.77 billion.

Analyst Ratings Changes

ON has been the subject of several research reports. Rosenblatt Securities boosted their target price on Onsemi from $70.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Bank of America increased their price objective on shares of Onsemi from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Citigroup cut shares of Onsemi from a “buy” rating to a “neutral” rating and cut their target price for the stock from $85.00 to $77.00 in a research report on Monday, July 15th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Onsemi from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Finally, JPMorgan Chase & Co. lifted their price objective on Onsemi from $85.00 to $88.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $85.74.

Onsemi Stock Performance

Shares of NASDAQ:ON opened at $71.25 on Monday. The company has a market cap of $30.65 billion, a P/E ratio of 14.54, a PEG ratio of 3.57 and a beta of 1.65. Onsemi has a one year low of $59.34 and a one year high of $86.77. The business’s 50-day simple moving average is $71.63 and its 200 day simple moving average is $71.41. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.95 and a current ratio of 3.01.

Onsemi (NASDAQ:ON) last announced its earnings results on Monday, July 29th. The semiconductor company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.04. Onsemi had a net margin of 24.84% and a return on equity of 25.48%. The business had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the prior year, the firm earned $1.33 earnings per share. The business’s quarterly revenue was down 17.2% compared to the same quarter last year. On average, sell-side analysts forecast that Onsemi will post 4.01 earnings per share for the current fiscal year.

Insider Buying and Selling at Onsemi

In related news, insider Simon Keeton sold 30,939 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $77.94, for a total value of $2,411,385.66. Following the completion of the transaction, the insider now owns 231,092 shares of the company’s stock, valued at approximately $18,011,310.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Onsemi news, insider Simon Keeton sold 30,939 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $77.94, for a total transaction of $2,411,385.66. Following the transaction, the insider now directly owns 231,092 shares in the company, valued at $18,011,310.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $72.71, for a total transaction of $109,065.00. Following the completion of the sale, the chief executive officer now directly owns 839,210 shares of the company’s stock, valued at $61,018,959.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,939 shares of company stock valued at $2,626,651 in the last ninety days. Insiders own 0.31% 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.