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

Onsemi (NASDAQ:ONFree Report) – Analysts at William Blair lowered their Q2 2024 earnings per share (EPS) estimates for shares of Onsemi in a research report issued to clients and investors 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 previous 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 equities research analysts have also recently commented on the company. JPMorgan Chase & Co. decreased their target price on Onsemi from $95.00 to $90.00 and set a “neutral” rating for the company in a research note on Tuesday. Robert W. Baird restated a “neutral” rating and set a $60.00 price objective (down previously from $120.00) on shares of Onsemi in a report on Tuesday, October 31st. Truist Financial decreased their price target on Onsemi from $94.00 to $89.00 and set a “buy” rating for the company in a research report on Tuesday. Stifel Nicolaus boosted their price target on shares of Onsemi from $72.00 to $85.00 and gave the stock a “hold” rating in a report on Tuesday, January 2nd. Finally, Needham & Company LLC restated a “buy” rating and set a $92.00 price objective on shares of Onsemi in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $98.92.

Read Our Latest Research Report on Onsemi

Onsemi Price Performance

Shares of ON opened at $76.96 on Thursday. Onsemi has a 1 year low of $61.47 and a 1 year high of $111.35. The business has a 50-day moving average of $77.38 and a 200-day moving average of $84.25. The company has a market capitalization of $33.15 billion, a price-to-earnings ratio of 15.74, a price-to-earnings-growth ratio of 4.04 and a beta of 1.81. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.71 and a quick ratio of 1.60.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Provence Wealth Management Group bought a new stake in shares of Onsemi during the 3rd quarter worth $25,000. Brown Brothers Harriman & Co. boosted its stake in Onsemi by 95.5% in the second quarter. Brown Brothers Harriman & Co. now owns 348 shares of the semiconductor company’s stock worth $33,000 after buying an additional 170 shares in the last quarter. Turtle Creek Wealth Advisors LLC purchased a new stake in Onsemi during the fourth quarter valued at about $32,000. MeadowBrook Investment Advisors LLC purchased a new stake in Onsemi during the 4th quarter valued at about $33,000. Finally, FinTrust Capital Advisors LLC purchased a new stake in shares of Onsemi during the fourth quarter valued at approximately $25,000. Institutional investors 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.

Featured Stories

Earnings History and Estimates for Onsemi (NASDAQ:ON)

Receive News & Ratings for Onsemi Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Onsemi and related companies with MarketBeat.com's FREE daily email newsletter.