Onsemi (NASDAQ:ON - Get Free Report) updated its second quarter 2024 earnings guidance on Monday. The company provided EPS guidance of 0.860-0.980 for the period, compared to the consensus EPS estimate of 1.010. The company issued revenue guidance of $1.7 billion-$1.8 billion, compared to the consensus revenue estimate of $1.8 billion. Onsemi also updated its Q2 guidance to $0.86-0.98 EPS.
Analyst Ratings Changes
A number of brokerages have weighed in on ON. Stifel Nicolaus decreased their target price on shares of Onsemi from $82.00 to $72.00 and set a hold rating for the company in a research note on Thursday, April 18th. KeyCorp boosted their target price on shares of Onsemi from $95.00 to $100.00 and gave the company an overweight rating in a research note on Tuesday, February 6th. Roth Mkm boosted their target price on shares of Onsemi from $75.00 to $90.00 and gave the company a buy rating in a research note on Tuesday, February 6th. Susquehanna reiterated a positive rating and set a $90.00 target price on shares of Onsemi in a research note on Monday, April 8th. Finally, Mizuho decreased their target price on shares of Onsemi from $98.00 to $92.00 and set a buy rating for the company in a research note on Tuesday, February 6th. One analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Onsemi has an average rating of Moderate Buy and a consensus target price of $95.28.
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Onsemi Price Performance
Shares of ON traded up $2.76 during midday trading on Monday, hitting $70.82. 13,459,578 shares of the company traded hands, compared to its average volume of 7,549,006. The firm has a 50 day moving average of $73.11 and a 200-day moving average of $75.28. Onsemi has a 52 week low of $59.34 and a 52 week high of $111.35. The stock has a market cap of $30.44 billion, a price-to-earnings ratio of 14.48, a PEG ratio of 6.71 and a beta of 1.80. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.74 and a current ratio of 2.71.
Onsemi (NASDAQ:ON - Get Free Report) last announced its earnings results on Monday, April 29th. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.04. The firm had revenue of $1.86 billion for the quarter, compared to analysts' expectations of $1.85 billion. Onsemi had a net margin of 26.46% and a return on equity of 31.36%. The business's revenue was down 4.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.19 EPS. On average, analysts forecast that Onsemi will post 4.26 EPS for the current fiscal year.
Onsemi Company Profile
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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.
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