Analysts Issue Forecasts for Onsemi’s Q1 2024 Earnings (NASDAQ:ON)

Onsemi (NASDAQ:ONFree Report) – Research analysts at B. Riley lowered their Q1 2024 earnings per share (EPS) estimates for Onsemi in a research note issued to investors on Monday, February 5th. B. Riley analyst C. Ellis now expects that the semiconductor company will earn $1.04 per share for the quarter, down from their prior forecast of $1.09. The consensus estimate for Onsemi’s current full-year earnings is $4.75 per share. B. Riley also issued estimates for Onsemi’s Q2 2024 earnings at $1.06 EPS, Q3 2024 earnings at $1.11 EPS, Q4 2024 earnings at $1.13 EPS, FY2024 earnings at $4.33 EPS, Q1 2025 earnings at $1.20 EPS, Q2 2025 earnings at $1.31 EPS, Q3 2025 earnings at $1.46 EPS, Q4 2025 earnings at $1.45 EPS, FY2025 earnings at $5.42 EPS and FY2026 earnings at $6.80 EPS.

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

Several other analysts have also recently issued reports on the company. Mizuho dropped their target price on Onsemi from $98.00 to $92.00 and set a “buy” rating on the stock in a research report on Tuesday. TD Cowen increased their target price on Onsemi from $80.00 to $90.00 and gave the company an “outperform” rating in a research report on Tuesday. Rosenblatt Securities reaffirmed a “neutral” rating and set a $75.00 target price on shares of Onsemi in a research report on Tuesday. Summit Insights cut Onsemi from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. Finally, StockNews.com cut Onsemi from a “hold” rating to a “sell” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $98.92.

View Our Latest Research Report on ON

Onsemi Stock Up 4.9 %

Shares of NASDAQ:ON opened at $80.71 on Wednesday. Onsemi has a 52-week low of $61.47 and a 52-week high of $111.35. The stock has a market cap of $34.76 billion, a P/E ratio of 16.51, a price-to-earnings-growth ratio of 4.04 and a beta of 1.81. The business’s 50 day moving average is $77.56 and its 200 day moving average is $84.23. The company has a quick ratio of 1.60, a current ratio of 2.71 and a debt-to-equity ratio of 0.33.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ON. HighTower Advisors LLC grew its stake in shares of Onsemi by 3.2% during the 1st quarter. HighTower Advisors LLC now owns 27,412 shares of the semiconductor company’s stock valued at $1,716,000 after buying an additional 845 shares during the period. MetLife Investment Management LLC purchased a new stake in shares of Onsemi during the 1st quarter valued at $1,171,000. Yousif Capital Management LLC grew its stake in shares of Onsemi by 4.2% during the 1st quarter. Yousif Capital Management LLC now owns 9,877 shares of the semiconductor company’s stock valued at $618,000 after buying an additional 395 shares during the period. Raymond James Trust N.A. grew its stake in shares of Onsemi by 15.4% during the 1st quarter. Raymond James Trust N.A. now owns 5,938 shares of the semiconductor company’s stock valued at $372,000 after buying an additional 793 shares during the period. Finally, Blair William & Co. IL grew its stake in shares of Onsemi by 22.0% during the 1st quarter. Blair William & Co. IL now owns 4,258 shares of the semiconductor company’s stock valued at $267,000 after buying an additional 768 shares during the period. 96.36% of the stock is currently owned by institutional investors and hedge funds.

Onsemi Company Profile

(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.