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ON Semiconductor Corp. (ON) Dips More Than Broader Markets: What You Should Know
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ON Semiconductor Corp. (ON - Free Report) closed at $96.79 in the latest trading session, marking a -1.08% move from the prior day. This change lagged the S&P 500's daily loss of 0.57%. Meanwhile, the Dow lost 0.05%, and the Nasdaq, a tech-heavy index, lost 1.04%.
Coming into today, shares of the semiconductor components maker had gained 0.75% in the past month. In that same time, the Computer and Technology sector gained 3.87%, while the S&P 500 gained 0.64%.
Wall Street will be looking for positivity from ON Semiconductor Corp. as it approaches its next earnings report date. The company is expected to report EPS of $1.35, down 6.9% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.15 billion, down 2.1% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.25 per share and revenue of $8.36 billion. These totals would mark changes of -1.5% and +0.42%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for ON Semiconductor Corp.These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.21% higher. ON Semiconductor Corp. is currently a Zacks Rank #2 (Buy).
Investors should also note ON Semiconductor Corp.'s current valuation metrics, including its Forward P/E ratio of 18.64. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 18.64.
It is also worth noting that ON currently has a PEG ratio of 2.5. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Semiconductor - Analog and Mixed was holding an average PEG ratio of 2.28 at yesterday's closing price.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 187, which puts it in the bottom 26% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ON in the coming trading sessions, be sure to utilize Zacks.com.
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ON Semiconductor Corp. (ON) Dips More Than Broader Markets: What You Should Know
ON Semiconductor Corp. (ON - Free Report) closed at $96.79 in the latest trading session, marking a -1.08% move from the prior day. This change lagged the S&P 500's daily loss of 0.57%. Meanwhile, the Dow lost 0.05%, and the Nasdaq, a tech-heavy index, lost 1.04%.
Coming into today, shares of the semiconductor components maker had gained 0.75% in the past month. In that same time, the Computer and Technology sector gained 3.87%, while the S&P 500 gained 0.64%.
Wall Street will be looking for positivity from ON Semiconductor Corp. as it approaches its next earnings report date. The company is expected to report EPS of $1.35, down 6.9% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.15 billion, down 2.1% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.25 per share and revenue of $8.36 billion. These totals would mark changes of -1.5% and +0.42%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for ON Semiconductor Corp.These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.21% higher. ON Semiconductor Corp. is currently a Zacks Rank #2 (Buy).
Investors should also note ON Semiconductor Corp.'s current valuation metrics, including its Forward P/E ratio of 18.64. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 18.64.
It is also worth noting that ON currently has a PEG ratio of 2.5. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Semiconductor - Analog and Mixed was holding an average PEG ratio of 2.28 at yesterday's closing price.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 187, which puts it in the bottom 26% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ON in the coming trading sessions, be sure to utilize Zacks.com.