William Blair Issues Optimistic Estimate for Onsemi Earnings

Onsemi (NASDAQ:ON) – Stock analysts at William Blair lifted their FY2024 earnings per share (EPS) estimates for shares of Onsemi in a research note issued to investors on Tuesday, October 29th. William Blair analyst J. Dorsheimer now anticipates that the semiconductor company will earn $4.00 per share for the year, up from their prior estimate of $3.99. The consensus estimate for Onsemi’s current full-year earnings is $4.01 per share. William Blair also issued estimates for Onsemi’s Q4 2024 earnings at $0.98 EPS, Q1 2025 earnings at $1.00 EPS, Q2 2025 earnings at $1.01 EPS, Q4 2025 earnings at $1.10 EPS and FY2025 earnings at $4.18 EPS.

Several other equities analysts have also issued reports on the company. KeyCorp dropped their price objective on Onsemi from $95.00 to $90.00 and set an “overweight” rating on the stock in a report on Tuesday, October 8th. JPMorgan Chase & Co. boosted their price objective on Onsemi from $85.00 to $88.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Truist Financial lowered their target price on shares of Onsemi from $97.00 to $89.00 and set a “buy” rating on the stock in a research report on Tuesday. Roth Mkm upped their price target 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. Finally, Citigroup downgraded shares of Onsemi from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $85.00 to $77.00 in a research report on Monday, July 15th. Two analysts have rated the stock with a sell rating, six have given a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.91.

Onsemi Price Performance

Shares of NASDAQ:ON opened at $70.49 on Wednesday. Onsemi has a 12 month low of $59.34 and a 12 month high of $86.77. The firm has a market capitalization of $30.19 billion, a P/E ratio of 17.49, a P/E/G ratio of 3.82 and a beta of 1.65. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.01 and a quick ratio of 1.95. The company’s fifty day moving average price is $71.43 and its 200 day moving average price is $71.49.

Onsemi (NASDAQ:ON) last announced its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.97 by $0.02. The company 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 firm’s revenue was down 19.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.39 earnings per share.

Insiders Place Their Bets

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction dated Monday, September 16th. The shares were 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 directly owns 840,620 shares of the company’s stock, valued at approximately $59,515,896. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Onsemi

A number of institutional investors and hedge funds have recently modified their holdings of the company. Mediolanum International Funds Ltd purchased a new stake in shares of Onsemi in the first quarter valued at about $2,447,000. Assenagon Asset Management S.A. boosted its stake in shares of Onsemi by 690.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 101,318 shares of the semiconductor company’s stock worth $6,945,000 after purchasing an additional 88,496 shares during the last quarter. Norden Group LLC purchased a new stake in shares of Onsemi during the first quarter worth about $774,000. Axxcess Wealth Management LLC acquired a new position in shares of Onsemi in the first quarter valued at approximately $808,000. Finally, Meeder Asset Management Inc. lifted its stake in shares of Onsemi by 42.9% during the first quarter. Meeder Asset Management Inc. now owns 26,029 shares of the semiconductor company’s stock valued at $1,914,000 after buying an additional 7,820 shares during the period. Institutional investors and hedge funds own 97.70% 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.