Onsemi to Post FY2024 Earnings of $4.22 Per Share, Roth Capital Forecasts (NASDAQ:ON)

Onsemi (NASDAQ:ONFree Report) – Analysts at Roth Capital decreased their FY2024 earnings estimates for shares of Onsemi in a research note issued on Monday, February 5th. Roth Capital analyst S. Desilva now forecasts that the semiconductor company will post earnings per share of $4.22 for the year, down from their prior forecast of $4.90. The consensus estimate for Onsemi’s current full-year earnings is $4.75 per share. Roth Capital also issued estimates for Onsemi’s Q1 2025 earnings at $1.16 EPS.

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 analysts’ consensus estimates of $1.21 by $0.04. The business 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 business’s revenue was down 4.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.32 EPS.

ON has been the topic of a number of other reports. Robert W. Baird reissued a “neutral” rating and issued a $60.00 price objective (down from $120.00) on shares of Onsemi in a research note on Tuesday, October 31st. Mizuho decreased their price target on shares of Onsemi from $98.00 to $92.00 and set a “buy” rating on the stock in a research note on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and set a $92.00 price target on shares of Onsemi in a research note on Tuesday. Craig Hallum cut shares of Onsemi from a “buy” rating to a “hold” rating and decreased their price target for the stock from $132.00 to $78.00 in a research note on Monday, October 30th. Finally, Morgan Stanley decreased their price target on shares of Onsemi from $110.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 31st. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Onsemi has an average rating of “Hold” and a consensus price target of $98.92.

Read Our Latest Stock Analysis on ON

Onsemi Price Performance

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

Institutional Trading of Onsemi

A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Onsemi by 3.7% during the first quarter. Vanguard Group Inc. now owns 41,662,400 shares of the semiconductor company’s stock worth $2,608,483,000 after buying an additional 1,494,114 shares in the last quarter. Artisan Partners Limited Partnership grew its position in shares of Onsemi by 5.8% during the second quarter. Artisan Partners Limited Partnership now owns 12,360,250 shares of the semiconductor company’s stock worth $1,169,032,000 after buying an additional 678,967 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Onsemi by 2.1% during the second quarter. Geode Capital Management LLC now owns 9,463,797 shares of the semiconductor company’s stock worth $892,852,000 after buying an additional 192,049 shares in the last quarter. Moneta Group Investment Advisors LLC grew its position in shares of Onsemi by 122,198.2% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 6,062,322 shares of the semiconductor company’s stock worth $378,107,000 after buying an additional 6,057,365 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of Onsemi by 26.0% during the third quarter. Invesco Ltd. now owns 5,812,863 shares of the semiconductor company’s stock worth $540,306,000 after buying an additional 1,200,723 shares in the last quarter. Hedge funds and other 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.

See Also

Earnings History and Estimates for Onsemi (NASDAQ:ON)

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