Onsemi (NASDAQ:ON) to Post Q2 2024 Earnings of $0.98 Per Share, William Blair Forecasts

Onsemi (NASDAQ:ONFree Report) – Stock analysts at William Blair dropped their Q2 2024 earnings estimates for Onsemi in a research note issued on Tuesday, February 6th. William Blair analyst J. Dorsheimer now expects that the semiconductor company will post earnings per share of $0.98 for the quarter, down from their prior forecast of $1.23. The consensus estimate for Onsemi’s current full-year earnings is $4.75 per share. William Blair also issued estimates for Onsemi’s FY2024 earnings at $4.17 EPS.

Several other brokerages have also recently weighed in on ON. StockNews.com cut Onsemi from a “hold” rating to a “sell” rating in a report on Tuesday. Needham & Company LLC reiterated a “buy” rating and set a $92.00 price objective on shares of Onsemi in a research note on Tuesday. The Goldman Sachs Group decreased their target price on shares of Onsemi from $106.00 to $93.00 and set a “buy” rating for the company in a research note on Tuesday, October 31st. Susquehanna dropped their price target on shares of Onsemi from $110.00 to $90.00 and set a “positive” rating on the stock in a research report on Tuesday, October 31st. Finally, Summit Insights downgraded shares of Onsemi from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $98.92.

View Our Latest Analysis on ON

Onsemi Stock Up 0.8 %

Shares of Onsemi stock opened at $76.96 on Thursday. Onsemi has a 52-week low of $61.47 and a 52-week high of $111.35. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.60 and a current ratio of 2.71. The business’s 50 day simple moving average is $77.38 and its 200 day simple moving average is $84.25. The firm has a market cap of $33.15 billion, a PE ratio of 15.74, a P/E/G ratio of 4.04 and a beta of 1.81.

Onsemi (NASDAQ:ONGet Free Report) last issued its quarterly earnings data on Monday, February 5th. The semiconductor company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.04. The company had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2 billion. Onsemi had a net margin of 26.46% and a return on equity of 31.36%. The firm’s revenue was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.32 earnings per share.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Provence Wealth Management Group acquired a new stake in shares of Onsemi during the 3rd quarter valued at $25,000. FinTrust Capital Advisors LLC bought a new stake in shares of Onsemi during the fourth quarter worth about $25,000. Turtle Creek Wealth Advisors LLC bought a new position in Onsemi in the 4th quarter valued at approximately $32,000. Brown Brothers Harriman & Co. boosted its position in Onsemi by 95.5% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 348 shares of the semiconductor company’s stock worth $33,000 after buying an additional 170 shares during the period. Finally, MeadowBrook Investment Advisors LLC bought a new stake in Onsemi during the 4th quarter worth approximately $33,000. Institutional investors and hedge funds own 96.36% of the company’s stock.

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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Earnings History and Estimates for Onsemi (NASDAQ:ON)

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