$1.50 Billion in Sales Expected for ON Semiconductor Corp (ON) This Quarter

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Analysts forecast that ON Semiconductor Corp (NASDAQ:ON) will announce sales of $1.50 billion for the current quarter, according to Zacks. Nine analysts have made estimates for ON Semiconductor’s earnings, with estimates ranging from $1.49 billion to $1.51 billion. ON Semiconductor posted sales of $1.38 billion during the same quarter last year, which would indicate a positive year over year growth rate of 8.7%. The company is expected to issue its next earnings report on Friday, February 1st.

According to Zacks, analysts expect that ON Semiconductor will report full-year sales of $5.88 billion for the current fiscal year, with estimates ranging from $5.87 billion to $5.89 billion. For the next year, analysts forecast that the business will post sales of $6.06 billion, with estimates ranging from $5.92 billion to $6.22 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow ON Semiconductor.

ON Semiconductor (NASDAQ:ON) last released its earnings results on Sunday, October 28th. The semiconductor company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.07. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.51 billion. ON Semiconductor had a net margin of 17.24% and a return on equity of 25.97%. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.44 EPS.

A number of equities analysts have issued reports on the company. ValuEngine upgraded ON Semiconductor from a “sell” rating to a “hold” rating in a report on Friday, November 2nd. Craig Hallum restated a “buy” rating and set a $25.00 price target (down from $31.00) on shares of ON Semiconductor in a report on Tuesday, October 30th. BidaskClub cut ON Semiconductor from a “sell” rating to a “strong sell” rating in a report on Thursday, August 2nd. Morgan Stanley cut their price target on ON Semiconductor from $18.50 to $14.50 and set an “underweight” rating on the stock in a report on Tuesday, October 30th. Finally, B. Riley increased their price target on ON Semiconductor from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, July 31st. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $24.29.

NASDAQ:ON opened at $18.40 on Friday. The company has a market cap of $7.08 billion, a price-to-earnings ratio of 12.60, a PEG ratio of 0.69 and a beta of 2.00. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.36 and a quick ratio of 1.44. ON Semiconductor has a fifty-two week low of $14.55 and a fifty-two week high of $27.10.

In related news, EVP William Hall sold 25,000 shares of the stock in a transaction on Monday, September 17th. The stock was sold at an average price of $19.56, for a total value of $489,000.00. Following the transaction, the executive vice president now directly owns 415,797 shares in the company, valued at approximately $8,132,989.32. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Paul Anthony Mascarenas sold 9,100 shares of the stock in a transaction on Friday, September 28th. The stock was sold at an average price of $18.16, for a total value of $165,256.00. Following the completion of the transaction, the director now owns 57,104 shares in the company, valued at $1,037,008.64. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,280 shares of company stock worth $742,854. 1.29% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of ON. Comerica Bank raised its position in ON Semiconductor by 3.4% in the 2nd quarter. Comerica Bank now owns 74,521 shares of the semiconductor company’s stock valued at $1,782,000 after buying an additional 2,478 shares during the last quarter. Independent Advisor Alliance raised its position in ON Semiconductor by 13.9% in the 2nd quarter. Independent Advisor Alliance now owns 20,734 shares of the semiconductor company’s stock valued at $285,000 after buying an additional 2,526 shares during the last quarter. Lido Advisors LLC raised its position in ON Semiconductor by 28.0% in the 2nd quarter. Lido Advisors LLC now owns 12,589 shares of the semiconductor company’s stock valued at $279,000 after buying an additional 2,754 shares during the last quarter. Centaurus Financial Inc. raised its position in ON Semiconductor by 6.1% in the 2nd quarter. Centaurus Financial Inc. now owns 52,124 shares of the semiconductor company’s stock valued at $1,159,000 after buying an additional 2,999 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY raised its position in ON Semiconductor by 10.8% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 33,363 shares of the semiconductor company’s stock valued at $742,000 after buying an additional 3,242 shares during the last quarter. Institutional investors own 91.30% of the company’s stock.

About ON Semiconductor

ON Semiconductor Corporation manufactures and sells semiconductor components for various electronic devices worldwide. It operates through three segments: Power Solutions Group, Analog Solutions Group, and Image Sensor Group. The Power Solutions Group segment offers discrete, module, and integrated semiconductor products for various applications, such as power switching, power conversion, signal conditioning, circuit protection, signal amplification, and voltage reference.

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