Brokers Set Expectations for Onsemi’s Q3 2024 Earnings (NASDAQ:ON)

Onsemi (NASDAQ:ON) – Stock analysts at KeyCorp issued their Q3 2024 EPS estimates for shares of Onsemi in a research report issued to clients and investors on Monday, October 7th. KeyCorp analyst J. Vinh expects that the semiconductor company will post earnings per share of $0.98 for the quarter. KeyCorp has a “Overweight” rating and a $90.00 price objective on the stock. The consensus estimate for Onsemi’s current full-year earnings is $4.01 per share. KeyCorp also issued estimates for Onsemi’s Q4 2024 earnings at $1.01 EPS and FY2024 earnings at $4.02 EPS.

Other analysts have also issued reports about the stock. Susquehanna upped their price target on shares of Onsemi from $85.00 to $95.00 and gave the company a “positive” rating in a research report on Wednesday, July 17th. Morgan Stanley lowered shares of Onsemi from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $70.00 to $65.00 in a report on Thursday, July 11th. Roth Mkm boosted their price objective on shares of Onsemi from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Benchmark increased their target price on shares of Onsemi from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Finally, TD Cowen boosted their price target on Onsemi from $85.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, Onsemi has an average rating of “Hold” and an average target price of $85.83.

Onsemi Stock Down 1.0 %

ON stock opened at $70.31 on Thursday. The company’s 50 day moving average is $72.01 and its 200 day moving average is $71.59. The stock has a market cap of $30.25 billion, a price-to-earnings ratio of 14.35, a price-to-earnings-growth ratio of 3.84 and a beta of 1.65. The company has a current ratio of 3.01, a quick ratio of 1.95 and a debt-to-equity ratio of 0.31. Onsemi has a 1-year low of $59.34 and a 1-year high of $95.59.

Onsemi (NASDAQ:ON) last posted its earnings results on Monday, July 29th. The semiconductor company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.92 by $0.04. Onsemi had a return on equity of 25.48% and a net margin of 24.84%. The business had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the previous year, the business earned $1.33 earnings per share. The firm’s revenue was down 17.2% on a year-over-year basis.

Institutional Trading of Onsemi

A number of institutional investors have recently made changes to their positions in the stock. Swedbank AB purchased a new position in shares of Onsemi in the 1st quarter worth $90,274,000. American Century Companies Inc. increased its position in Onsemi by 451.3% in the second quarter. American Century Companies Inc. now owns 1,111,112 shares of the semiconductor company’s stock worth $76,167,000 after buying an additional 909,558 shares in the last quarter. M&G Plc bought a new position in shares of Onsemi in the first quarter worth about $57,900,000. Dimensional Fund Advisors LP grew its stake in shares of Onsemi by 18.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,217,221 shares of the semiconductor company’s stock valued at $289,088,000 after acquiring an additional 665,633 shares during the period. Finally, 1832 Asset Management L.P. increased its holdings in Onsemi by 66.4% in the 2nd quarter. 1832 Asset Management L.P. now owns 1,440,450 shares of the semiconductor company’s stock worth $98,743,000 after acquiring an additional 574,900 shares in the last quarter. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Insider Activity

In related news, insider Simon Keeton sold 30,939 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $77.94, for a total transaction of $2,411,385.66. Following the sale, the insider now directly owns 231,092 shares of the company’s stock, valued at approximately $18,011,310.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Onsemi news, insider Simon Keeton sold 30,939 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $77.94, for a total transaction of $2,411,385.66. Following the sale, the insider now directly owns 231,092 shares in the company, 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 business’s stock in a transaction 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 of the company’s stock, valued at $59,515,896. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

About Onsemi

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.