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ON Semiconductor Corp. (ON) Stock Drops Despite Market Gains: Important Facts to Note September 16, 2024
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The latest trading session saw ON Semiconductor Corp. (ON - Free Report) ending at $70.37, denoting a -1.88% adjustment from its last day's close. The stock's change was less than the S&P 500's daily gain of 0.13%. On the other hand, the Dow registered a gain of 0.55%, and the technology-centric Nasdaq decreased by 0.52%.
Shares of the semiconductor components maker witnessed a loss of 5.43% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 1.56% and the S&P 500's gain of 3.67%.
The investment community will be closely monitoring the performance of ON Semiconductor Corp. in its forthcoming earnings report. On that day, ON Semiconductor Corp. is projected to report earnings of $0.97 per share, which would represent a year-over-year decline of 30.22%. Meanwhile, the latest consensus estimate predicts the revenue to be $1.75 billion, indicating a 19.77% decrease compared to the same quarter of the previous year.
ON's full-year Zacks Consensus Estimates are calling for earnings of $4.01 per share and revenue of $7.13 billion. These results would represent year-over-year changes of -22.29% and -13.6%, respectively.
It's also important for investors to be aware of any recent modifications to analyst estimates for ON Semiconductor Corp. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. At present, ON Semiconductor Corp. boasts a Zacks Rank of #3 (Hold).
Investors should also note ON Semiconductor Corp.'s current valuation metrics, including its Forward P/E ratio of 17.89. Its industry sports an average Forward P/E of 38.46, so one might conclude that ON Semiconductor Corp. is trading at a discount comparatively.
It's also important to note that ON currently trades at a PEG ratio of 3.85. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Semiconductor - Analog and Mixed industry was having an average PEG ratio of 3.45.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 209, this industry ranks in the bottom 18% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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The latest trading session saw ON Semiconductor Corp. (ON - Free Report) ending at $70.37, denoting a -1.88% adjustment from its last day's close. The stock's change was less than the S&P 500's daily gain of 0.13%. On the other hand, the Dow registered a gain of 0.55%, and the technology-centric Nasdaq decreased by 0.52%.
Shares of the semiconductor components maker witnessed a loss of 5.43% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 1.56% and the S&P 500's gain of 3.67%.
The investment community will be closely monitoring the performance of ON Semiconductor Corp. in its forthcoming earnings report. On that day, ON Semiconductor Corp. is projected to report earnings of $0.97 per share, which would represent a year-over-year decline of 30.22%. Meanwhile, the latest consensus estimate predicts the revenue to be $1.75 billion, indicating a 19.77% decrease compared to the same quarter of the previous year.
ON's full-year Zacks Consensus Estimates are calling for earnings of $4.01 per share and revenue of $7.13 billion. These results would represent year-over-year changes of -22.29% and -13.6%, respectively.
It's also important for investors to be aware of any recent modifications to analyst estimates for ON Semiconductor Corp. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. At present, ON Semiconductor Corp. boasts a Zacks Rank of #3 (Hold).
Investors should also note ON Semiconductor Corp.'s current valuation metrics, including its Forward P/E ratio of 17.89. Its industry sports an average Forward P/E of 38.46, so one might conclude that ON Semiconductor Corp. is trading at a discount comparatively.
It's also important to note that ON currently trades at a PEG ratio of 3.85. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Semiconductor - Analog and Mixed industry was having an average PEG ratio of 3.45.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 209, this industry ranks in the bottom 18% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.