Analysts Anticipate ON Semiconductor Corp (ON) Will Announce Quarterly Sales of $1.36 Billion

Analysts expect ON Semiconductor Corp (NASDAQ:ON) to post sales of $1.36 billion for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have made estimates for ON Semiconductor’s earnings, with estimates ranging from $1.34 billion to $1.37 billion. ON Semiconductor reported sales of $1.44 billion in the same quarter last year, which would suggest a negative year over year growth rate of 5.6%. The firm is expected to issue its next quarterly earnings results on Monday, May 7th.

According to Zacks, analysts expect that ON Semiconductor will report full-year sales of $1.36 billion for the current financial year, with estimates ranging from $5.55 billion to $5.72 billion. For the next financial year, analysts forecast that the firm will report sales of $5.85 billion per share, with estimates ranging from $5.65 billion to $5.97 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover ON Semiconductor.

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ON Semiconductor (NASDAQ:ON) last issued its quarterly earnings results on Friday, February 2nd. The semiconductor company reported $0.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.02. The business had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.35 billion. ON Semiconductor had a net margin of 14.63% and a return on equity of 21.88%. The business’s quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.29 earnings per share.

A number of research firms recently weighed in on ON. Vetr lowered shares of ON Semiconductor from a “strong-buy” rating to a “buy” rating and set a $25.52 target price on the stock. in a research note on Wednesday, January 10th. Robert W. Baird increased their price target on shares of ON Semiconductor from $25.00 to $26.00 and gave the company an “outperform” rating in a research note on Tuesday, February 6th. BidaskClub lowered shares of ON Semiconductor from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 26th. Needham & Company LLC reiterated a “buy” rating and issued a $25.00 price target on shares of ON Semiconductor in a research note on Tuesday, December 19th. Finally, ValuEngine lowered shares of ON Semiconductor from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $24.09.

In other news, VP Paul E. Rolls sold 16,899 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $21.03, for a total transaction of $355,385.97. Following the transaction, the vice president now directly owns 305,807 shares in the company, valued at $6,431,121.21. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP William Hall sold 22,583 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $23.86, for a total transaction of $538,830.38. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 137,282 shares of company stock worth $3,247,913. Insiders own 1.60% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Xact Kapitalforvaltning AB acquired a new stake in shares of ON Semiconductor during the fourth quarter worth $733,000. Envestnet Asset Management Inc. lifted its holdings in shares of ON Semiconductor by 153.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 21,245 shares of the semiconductor company’s stock worth $445,000 after purchasing an additional 12,860 shares during the period. Westover Capital Advisors LLC lifted its holdings in shares of ON Semiconductor by 13.9% during the fourth quarter. Westover Capital Advisors LLC now owns 19,982 shares of the semiconductor company’s stock worth $418,000 after purchasing an additional 2,433 shares during the period. Banco de Sabadell S.A acquired a new stake in shares of ON Semiconductor during the fourth quarter worth $1,286,000. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp lifted its holdings in shares of ON Semiconductor by 92.3% during the fourth quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 743,955 shares of the semiconductor company’s stock worth $15,578,000 after purchasing an additional 357,100 shares during the period. Institutional investors and hedge funds own 97.13% of the company’s stock.

ON Semiconductor (NASDAQ ON) traded up $0.11 during mid-day trading on Monday, hitting $25.87. 5,560,857 shares of the company were exchanged, compared to its average volume of 6,414,723. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.08 and a quick ratio of 1.31. ON Semiconductor has a 12-month low of $13.65 and a 12-month high of $27.10. The stock has a market capitalization of $10,959.35, a price-to-earnings ratio of 13.83, a price-to-earnings-growth ratio of 1.22 and a beta of 2.03.

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About ON Semiconductor

ON Semiconductor Corporation offers a portfolio of sensors, power management, connectivity, custom and system on chip (SoC), analog, logic, timing, and discrete devices. The Company’s segments include Power Solutions Group, Analog Solutions Group and Image Sensor Group. The Power Solutions Group offers a range of discrete, module and integrated semiconductor products.

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Earnings History and Estimates for ON Semiconductor (NASDAQ:ON)

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