Onsemi (NASDAQ:ON) Announces Earnings Results

Onsemi (NASDAQ:ON) released its quarterly earnings results on Monday. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.04, Briefing.com reports. Onsemi had a net margin of 26.46% and a return on equity of 31.36%. The company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same period in the prior year, the company earned $1.19 earnings per share. The business’s quarterly revenue was down 4.9% compared to the same quarter last year. Onsemi updated its Q2 guidance to $0.86-0.98 EPS and its Q2 2024 guidance to 0.860-0.980 EPS.

Onsemi Stock Performance

Shares of Onsemi stock opened at $70.82 on Tuesday. Onsemi has a fifty-two week low of $59.34 and a fifty-two week high of $111.35. The firm has a market cap of $30.44 billion, a P/E ratio of 14.48, a P/E/G ratio of 6.71 and a beta of 1.80. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.71 and a quick ratio of 1.74. The firm has a 50 day simple moving average of $73.11 and a 200 day simple moving average of $75.28.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Evercore ISI assumed coverage on shares of Onsemi in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $104.00 target price for the company. Truist Financial reduced their target price on shares of Onsemi from $94.00 to $89.00 and set a “buy” rating for the company in a research note on Tuesday, February 6th. StockNews.com upgraded shares of Onsemi from a “sell” rating to a “hold” rating in a research note on Wednesday, February 14th. BNP Paribas reiterated an “underperform” rating and issued a $55.00 target price on shares of Onsemi in a research note on Friday, April 19th. Finally, The Goldman Sachs Group reduced their target price on shares of Onsemi from $91.00 to $81.00 and set a “buy” rating for the company in a research note on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Onsemi presently has an average rating of “Moderate Buy” and a consensus target price of $95.08.

Onsemi Company Profile

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.