Onsemi (NASDAQ:ON) Updates Q4 2024 Earnings Guidance

Onsemi (NASDAQ:ON) updated its fourth quarter 2024 earnings guidance on Monday. The company provided earnings per share guidance of 0.920-1.040 for the period, compared to the consensus earnings per share estimate of 1.000. The company issued revenue guidance of $1.7 billion-$1.8 billion. Onsemi also updated its Q4 guidance to $0.92-1.04 EPS.

Onsemi Price Performance

NASDAQ ON traded down $3.98 during trading hours on Thursday, reaching $69.65. 3,958,348 shares of the stock traded hands, compared to its average volume of 6,772,385. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.01 and a quick ratio of 1.95. The stock has a 50 day simple moving average of $71.43 and a two-hundred day simple moving average of $71.49. Onsemi has a 1 year low of $59.34 and a 1 year high of $86.77. The company has a market cap of $29.83 billion, a price-to-earnings ratio of 18.27, a price-to-earnings-growth ratio of 3.82 and a beta of 1.65.

Onsemi (NASDAQ:ON) last issued its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.02. Onsemi had a net margin of 24.84% and a return on equity of 25.48%. The business had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.75 billion. During the same period last year, the business earned $1.39 earnings per share. The business’s quarterly revenue was down 19.2% on a year-over-year basis. On average, analysts predict that Onsemi will post 4.01 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ON shares. Deutsche Bank Aktiengesellschaft boosted their price target on Onsemi from $85.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Robert W. Baird lifted their price target on shares of Onsemi from $70.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday. BNP Paribas decreased their price objective on shares of Onsemi from $60.00 to $55.00 in a report on Friday, October 25th. Truist Financial reduced their price target on shares of Onsemi from $97.00 to $89.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Benchmark reaffirmed a “buy” rating and set a $90.00 price objective on shares of Onsemi in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, six have given a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, Onsemi currently has a consensus rating of “Moderate Buy” and an average price target of $85.91.

Insider Activity at Onsemi

In other news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $72.71, for a total value of $109,065.00. Following the completion of the sale, the chief executive officer now directly owns 839,210 shares in the company, valued at $61,018,959.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.31% of the stock is currently owned by insiders.

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.