B. Riley Issues Optimistic Forecast for Onsemi Earnings

Onsemi (NASDAQ:ON) – B. Riley raised their FY2024 earnings per share (EPS) estimates for Onsemi in a report issued on Monday, October 28th. B. Riley analyst C. Ellis now expects that the semiconductor company will post earnings of $3.99 per share for the year, up from their previous estimate of $3.96. The consensus estimate for Onsemi’s current full-year earnings is $4.01 per share. B. Riley also issued estimates for Onsemi’s Q4 2024 earnings at $0.96 EPS, Q1 2025 earnings at $1.03 EPS, Q2 2025 earnings at $1.15 EPS, Q3 2025 earnings at $1.31 EPS, Q4 2025 earnings at $1.30 EPS, FY2025 earnings at $4.79 EPS, Q1 2026 earnings at $1.31 EPS, Q2 2026 earnings at $1.41 EPS and FY2026 earnings at $5.78 EPS.

Onsemi (NASDAQ:ON) last released its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.97 by $0.02. Onsemi had a return on equity of 25.48% and a net margin of 24.84%. The business had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.75 billion. During the same quarter in the previous year, the firm posted $1.39 earnings per share. The company’s revenue was down 19.2% compared to the same quarter last year.

Several other brokerages have also weighed in on ON. Robert W. Baird boosted their price objective on Onsemi from $70.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday. StockNews.com raised Onsemi from a “sell” rating to a “hold” rating in a report on Tuesday. BNP Paribas lowered their price objective on Onsemi from $60.00 to $55.00 in a report on Friday, October 25th. KeyCorp lowered their price objective on Onsemi from $95.00 to $90.00 and set an “overweight” rating for the company in a report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. boosted their price objective on Onsemi from $85.00 to $88.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $85.91.

Onsemi Stock Down 1.4 %

Shares of Onsemi stock opened at $73.63 on Wednesday. The company has a quick ratio of 1.95, a current ratio of 3.01 and a debt-to-equity ratio of 0.31. The firm has a market cap of $31.54 billion, a P/E ratio of 18.27, a P/E/G ratio of 3.82 and a beta of 1.65. Onsemi has a fifty-two week low of $59.34 and a fifty-two week high of $86.77. The business has a 50-day moving average price of $71.43 and a 200 day moving average price of $71.49.

Institutional Investors Weigh In On Onsemi

Institutional investors have recently added to or reduced their stakes in the company. GHP Investment Advisors Inc. lifted its position in Onsemi by 12,850.0% in the third quarter. GHP Investment Advisors Inc. now owns 518 shares of the semiconductor company’s stock worth $38,000 after purchasing an additional 514 shares during the period. Westside Investment Management Inc. lifted its position in shares of Onsemi by 5,500.0% during the 1st quarter. Westside Investment Management Inc. now owns 560 shares of the semiconductor company’s stock valued at $41,000 after acquiring an additional 550 shares during the last quarter. Fidelis Capital Partners LLC acquired a new stake in shares of Onsemi during the 1st quarter valued at $45,000. Massmutual Trust Co. FSB ADV lifted its position in shares of Onsemi by 36.7% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock valued at $43,000 after acquiring an additional 169 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in shares of Onsemi during the 2nd quarter valued at $43,000. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was 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 directly owns 839,210 shares of the company’s stock, valued at $61,018,959.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate 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.