$1.38 Billion in Sales Expected for ON Semiconductor Corp (NASDAQ:ON) This Quarter

Wall Street analysts expect that ON Semiconductor Corp (NASDAQ:ON) will post sales of $1.38 billion for the current quarter, according to Zacks Investment Research. Nine analysts have provided estimates for ON Semiconductor’s earnings, with the highest sales estimate coming in at $1.40 billion and the lowest estimate coming in at $1.36 billion. ON Semiconductor posted sales of $1.46 billion during the same quarter last year, which would indicate a negative year-over-year growth rate of 5.5%. The company is expected to issue its next earnings report on Monday, July 29th.

According to Zacks, analysts expect that ON Semiconductor will report full-year sales of $5.65 billion for the current fiscal year, with estimates ranging from $5.52 billion to $5.81 billion. For the next year, analysts anticipate that the business will post sales of $5.94 billion, with estimates ranging from $5.61 billion to $6.16 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow ON Semiconductor.

ON Semiconductor (NASDAQ:ON) last released its quarterly earnings results on Saturday, April 27th. The semiconductor company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.40 by $0.03. The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.39 billion. ON Semiconductor had a return on equity of 26.54% and a net margin of 10.22%. The firm’s revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.31 earnings per share.

ON has been the topic of several research analyst reports. Goldman Sachs Group lifted their price target on Western Digital from $42.00 to $49.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 27th. Jefferies Financial Group cut their price target on CommVault Systems to $65.00 and set a “buy” rating on the stock in a research report on Tuesday, April 30th. They noted that the move was a valuation call. ValuEngine raised Zogenix from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 27th. Loop Capital reaffirmed a “hold” rating and set a $76.00 price target on shares of Power Integrations in a research report on Tuesday, June 18th. Finally, Mizuho lowered their target price on Veoneer from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, April 30th. Two analysts have rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company. ON Semiconductor presently has a consensus rating of “Hold” and an average target price of $25.11.

ON traded down $0.04 during trading on Thursday, hitting $19.65. 233,127 shares of the stock were exchanged, compared to its average volume of 6,843,407. The company has a market cap of $8.05 billion, a price-to-earnings ratio of 9.99, a P/E/G ratio of 1.72 and a beta of 2.17. ON Semiconductor has a 1-year low of $14.55 and a 1-year high of $24.31. The company’s fifty day simple moving average is $19.17. The company has a quick ratio of 1.38, a current ratio of 2.31 and a debt-to-equity ratio of 0.82.

In related news, EVP Vince Craig Hopkin sold 3,000 shares of ON Semiconductor stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $19.81, for a total value of $59,430.00. Following the sale, the executive vice president now directly owns 91,049 shares in the company, valued at $1,803,680.69. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Gilles Delfassy sold 3,731 shares of ON Semiconductor stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $18.96, for a total value of $70,739.76. Following the completion of the sale, the director now owns 49,208 shares in the company, valued at $932,983.68. The disclosure for this sale can be found here. Insiders sold a total of 24,800 shares of company stock worth $543,480 over the last quarter. Company insiders own 1.40% of the company’s stock.

Several institutional investors have recently bought and sold shares of ON. Cambridge Investment Research Advisors Inc. raised its holdings in ON Semiconductor by 29.2% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 21,636 shares of the semiconductor company’s stock worth $357,000 after purchasing an additional 4,889 shares during the last quarter. LPL Financial LLC raised its holdings in ON Semiconductor by 16.7% during the fourth quarter. LPL Financial LLC now owns 25,823 shares of the semiconductor company’s stock worth $426,000 after purchasing an additional 3,702 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in ON Semiconductor by 13.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,418 shares of the semiconductor company’s stock worth $633,000 after purchasing an additional 4,489 shares during the last quarter. Raymond James & Associates raised its holdings in ON Semiconductor by 13.0% during the fourth quarter. Raymond James & Associates now owns 154,835 shares of the semiconductor company’s stock worth $2,556,000 after purchasing an additional 17,783 shares during the last quarter. Finally, AlphaCrest Capital Management LLC acquired a new position in ON Semiconductor during the fourth quarter worth $345,000. Hedge funds and other institutional investors own 96.20% of the company’s stock.

About ON Semiconductor

ON Semiconductor Corporation manufactures and sells semiconductor components for various electronic devices worldwide. The company operates in three segments: Power Solutions Group, Analog Solutions Group, and Intelligent Sensing Group. The Power Solutions Group segment offers discrete, module, and integrated semiconductor products for various applications, such as power switching and conversion, signal conditioning, circuit protection, signal amplification, and voltage reference.

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Earnings History and Estimates for ON Semiconductor (NASDAQ:ON)

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