William Blair Has Strong Estimate for Onsemi FY2024 Earnings

by · The Cerbat Gem

Onsemi (NASDAQ:ON – Free Report) – Investment analysts at William Blair upped their FY2024 earnings per share (EPS) estimates for Onsemi in a report issued 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 forecast 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.

A number of other research analysts have also recently weighed in on the stock. Citigroup cut shares of Onsemi from a “buy” rating to a “neutral” rating and cut their price objective for the company from $85.00 to $77.00 in a report on Monday, July 15th. Deutsche Bank Aktiengesellschaft upped their price target on Onsemi from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. BNP Paribas dropped their price objective on Onsemi from $60.00 to $55.00 in a report on Friday, October 25th. Truist Financial reduced their target price on Onsemi from $97.00 to $89.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, JPMorgan Chase & Co. lifted their price target on shares of Onsemi from $85.00 to $88.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Onsemi presently has a consensus rating of “Moderate Buy” and an average price target of $85.57.

View Our Latest Stock Analysis on ON

Onsemi Price Performance

Shares of NASDAQ ON opened at $74.70 on Wednesday. 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 stock has a market capitalization of $32.00 billion, a price-to-earnings ratio of 18.54, a PEG ratio of 3.82 and a beta of 1.65. The firm’s 50 day simple moving average is $71.49 and its 200-day simple moving average is $71.48. Onsemi has a 12 month low of $59.34 and a 12 month high of $86.77.

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

Institutional Trading of Onsemi

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Onsemi by 39.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 13,299 shares of the semiconductor company’s stock valued at $978,000 after purchasing an additional 3,735 shares in the last quarter. Azzad Asset Management Inc. ADV acquired a new position in Onsemi during the 1st quarter worth approximately $1,068,000. Norden Group LLC purchased a new stake in shares of Onsemi in the 1st quarter valued at approximately $774,000. Westside Investment Management Inc. raised its holdings in shares of Onsemi by 5,500.0% in the 1st quarter. Westside Investment Management Inc. now owns 560 shares of the semiconductor company’s stock valued at $41,000 after purchasing an additional 550 shares in the last quarter. Finally, First Trust Direct Indexing L.P. lifted its position in shares of Onsemi by 9.6% during the 1st quarter. First Trust Direct Indexing L.P. now owns 12,130 shares of the semiconductor company’s stock worth $892,000 after purchasing an additional 1,059 shares during the last quarter. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $72.71, for a total transaction of $109,065.00. Following the sale, the chief executive officer now owns 839,210 shares of the company’s stock, valued at approximately $61,018,959.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.31% of the stock is owned by company insiders.

About Onsemi

(Get Free Report)

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.

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