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

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

Onsemi Stock Performance

Shares of NASDAQ:ON traded down $1.07 during trading on Wednesday, reaching $73.63. 8,083,150 shares of the company’s stock traded hands, compared to its average volume of 6,787,004. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.01 and a quick ratio of 1.95. Onsemi has a 12 month low of $59.34 and a 12 month high of $86.77. The company has a 50 day moving average of $71.43 and a 200-day moving average of $71.49. The stock has a market capitalization of $31.54 billion, a P/E ratio of 18.27, a price-to-earnings-growth ratio of 3.82 and a beta of 1.65.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ON. Susquehanna lifted their target price on shares of Onsemi from $85.00 to $95.00 and gave the company a “positive” rating in a report on Wednesday, July 17th. BNP Paribas reduced their target price on shares of Onsemi from $60.00 to $55.00 in a report on Friday, October 25th. Roth Mkm lifted their target price on shares of Onsemi from $90.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Citigroup lowered shares of Onsemi from a “buy” rating to a “neutral” rating and reduced their target price for the company from $85.00 to $77.00 in a report on Monday, July 15th. Finally, Truist Financial cut their price objective on shares of Onsemi from $97.00 to $89.00 and set a “buy” rating on the stock in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $85.57.

Insider Activity at Onsemi

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 839,210 shares in the company, valued at approximately $61,018,959.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.31% of the company’s stock.

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.