Onsemi (NASDAQ:ON) Posts Earnings Results, Beats Expectations By $0.02 EPS

Onsemi (NASDAQ:ON) posted its quarterly earnings data on Monday. The semiconductor company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.02, Briefing.com reports. The business had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.75 billion. Onsemi had a return on equity of 25.48% and a net margin of 24.84%. The business’s revenue was down 19.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.39 earnings per share. Onsemi updated its Q4 guidance to $0.92-1.04 EPS and its Q4 2024 guidance to 0.920-1.040 EPS.

Onsemi Stock Up 0.7 %

Shares of ON stock traded up $0.50 during trading hours on Tuesday, reaching $72.74. The company had a trading volume of 1,617,004 shares, compared to its average volume of 6,749,217. Onsemi has a twelve month low of $59.34 and a twelve month high of $86.77. The stock’s fifty day simple moving average is $71.52 and its 200 day simple moving average is $71.42. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.95 and a current ratio of 3.01. The company has a market capitalization of $31.16 billion, a P/E ratio of 17.86, a price-to-earnings-growth ratio of 3.82 and a beta of 1.65.

Insider Buying and Selling at Onsemi

In other news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $70.80, for a total value of $106,200.00. Following the completion of the transaction, the chief executive officer now owns 840,620 shares in the company, valued at approximately $59,515,896. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Simon Keeton sold 30,939 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now owns 231,092 shares of the company’s stock, valued at approximately $18,011,310.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Hassane El-Khoury sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $70.80, for a total value of $106,200.00. Following the completion of the sale, the chief executive officer now directly owns 840,620 shares in the company, valued at approximately $59,515,896. This trade represents 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 worth $2,626,651 in the last 90 days. 0.31% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ON has been the topic of a number of recent research reports. Bank of America boosted their price objective on Onsemi from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Mizuho set a $85.00 price objective on Onsemi in a research note on Friday, October 18th. TD Cowen decreased their price target on Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday. JPMorgan Chase & Co. upped their price target on Onsemi from $85.00 to $88.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and issued a $75.00 price target on shares of Onsemi in a research note on Tuesday. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Onsemi presently has a consensus rating of “Hold” and an average price target of $85.91.

Onsemi Company Profile

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.