Roth Capital Forecasts Onsemi’s FY2024 Earnings (NASDAQ:ON)

by · The Markets Daily

Onsemi (NASDAQ:ON – Free Report) – Equities research analysts at Roth Capital cut their FY2024 earnings per share (EPS) estimates for shares of Onsemi in a report released on Monday, October 28th. Roth Capital analyst S. Desilva now expects that the semiconductor company will post earnings of $4.00 per share for the year, down from their previous forecast of $4.03. The consensus estimate for Onsemi’s current full-year earnings is $4.01 per share.

A number of other research firms have also weighed in on ON. 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. JPMorgan Chase & Co. increased their price target on Onsemi from $85.00 to $88.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Bank of America lifted their price objective on Onsemi from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. BNP Paribas reduced their target price on Onsemi from $60.00 to $55.00 in a research report on Friday, October 25th. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $75.00 price target on shares of Onsemi in a report on Tuesday. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.91.

Check Out Our Latest Report on Onsemi

Onsemi Stock Performance

Onsemi stock opened at $73.63 on Thursday. Onsemi has a fifty-two week low of $59.34 and a fifty-two week high of $86.77. The company has a market capitalization of $31.54 billion, a price-to-earnings ratio of 18.27, a PEG ratio of 3.82 and a beta of 1.65. The stock has a fifty day moving average of $71.43 and a two-hundred day moving average of $71.49. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.95 and a current ratio of 3.01.

Onsemi (NASDAQ:ON – Get Free Report) last released 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. Onsemi had a net margin of 24.84% and a return on equity of 25.48%. The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same period in the prior year, the business earned $1.39 earnings per share. The company’s quarterly revenue was down 19.2% on a year-over-year basis.

Institutional Investors Weigh In On Onsemi

Several hedge funds and other institutional investors have recently modified their holdings of the stock. GHP Investment Advisors Inc. raised its position in shares of Onsemi by 12,850.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 518 shares of the semiconductor company’s stock valued at $38,000 after acquiring an additional 514 shares in the last quarter. Westside Investment Management Inc. raised its holdings in shares of Onsemi by 5,500.0% during the first quarter. Westside Investment Management Inc. now owns 560 shares of the semiconductor company’s stock worth $41,000 after purchasing an additional 550 shares during the period. Massmutual Trust Co. FSB ADV lifted its position in shares of Onsemi by 36.7% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock worth $43,000 after buying an additional 169 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of Onsemi in the 2nd quarter valued at about $43,000. Finally, Fidelis Capital Partners LLC bought a new stake in shares of Onsemi during the 1st quarter valued at about $45,000. Institutional investors own 97.70% of the company’s stock.

Insider Buying and Selling at Onsemi

In related news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi stock in a transaction 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 $61,018,959.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.31% of the stock is owned by corporate 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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