Zacks: Brokerages Anticipate ON Semiconductor Co. (NASDAQ:ON) to Announce $0.75 EPS

Wall Street brokerages predict that ON Semiconductor Co. (NASDAQ:ON) will announce earnings per share of $0.75 for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have provided estimates for ON Semiconductor’s earnings, with the highest EPS estimate coming in at $0.78 and the lowest estimate coming in at $0.73. ON Semiconductor reported earnings per share of $0.27 during the same quarter last year, which suggests a positive year over year growth rate of 177.8%. The firm is scheduled to issue its next earnings report on Friday, October 29th.

On average, analysts expect that ON Semiconductor will report full year earnings of $2.49 per share for the current year, with EPS estimates ranging from $2.41 to $2.55. For the next financial year, analysts forecast that the business will report earnings of $2.78 per share, with EPS estimates ranging from $2.48 to $3.12. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that that provide coverage for ON Semiconductor.

ON Semiconductor (NASDAQ:ON) last posted its quarterly earnings results on Sunday, August 1st. The semiconductor company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.49 by $0.14. The business had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.62 billion. ON Semiconductor had a net margin of 8.85% and a return on equity of 18.98%. The firm’s quarterly revenue was up 37.6% compared to the same quarter last year. During the same period last year, the company posted $0.12 earnings per share.

A number of equities analysts recently issued reports on ON shares. Mizuho boosted their target price on shares of ON Semiconductor from $44.00 to $49.00 and gave the stock a “buy” rating in a research report on Tuesday, August 3rd. B. Riley boosted their price target on shares of ON Semiconductor from $50.00 to $58.00 and gave the company a “buy” rating in a report on Tuesday, August 3rd. Craig Hallum boosted their price target on shares of ON Semiconductor from $45.00 to $52.00 and gave the company a “buy” rating in a report on Tuesday, August 3rd. Cowen boosted their price target on shares of ON Semiconductor from $44.00 to $58.00 and gave the company an “outperform” rating in a report on Tuesday, August 3rd. Finally, Rosenblatt Securities boosted their price target on shares of ON Semiconductor from $44.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, August 3rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $48.08.

In related news, Director Gregory L. Waters purchased 17,000 shares of the stock in a transaction dated Tuesday, September 7th. The stock was bought at an average cost of $45.26 per share, with a total value of $769,420.00. Following the purchase, the director now directly owns 8,175 shares in the company, valued at approximately $370,000.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Bernard Raymond Colpitts, Jr. sold 2,483 shares of the company’s stock in a transaction dated Monday, June 21st. The shares were sold at an average price of $36.00, for a total value of $89,388.00. Following the completion of the sale, the chief accounting officer now directly owns 19,890 shares of the company’s stock, valued at $716,040. The disclosure for this sale can be found here. Insiders have sold a total of 28,683 shares of company stock valued at $1,259,381 over the last three months. Company insiders own 1.42% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in ON Semiconductor by 4.3% during the 2nd quarter. Vanguard Group Inc. now owns 38,712,946 shares of the semiconductor company’s stock worth $1,481,931,000 after purchasing an additional 1,610,876 shares in the last quarter. Capital International Investors increased its stake in ON Semiconductor by 0.8% during the 1st quarter. Capital International Investors now owns 18,131,794 shares of the semiconductor company’s stock worth $754,464,000 after purchasing an additional 147,125 shares in the last quarter. Robeco Schweiz AG increased its stake in ON Semiconductor by 22.3% during the 1st quarter. Robeco Schweiz AG now owns 9,212,000 shares of the semiconductor company’s stock worth $383,311,000 after purchasing an additional 1,681,290 shares in the last quarter. Geode Capital Management LLC boosted its position in ON Semiconductor by 5.9% during the 2nd quarter. Geode Capital Management LLC now owns 5,592,696 shares of the semiconductor company’s stock worth $213,792,000 after acquiring an additional 313,279 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its position in ON Semiconductor by 12.4% during the 1st quarter. Nuveen Asset Management LLC now owns 4,810,050 shares of the semiconductor company’s stock worth $200,146,000 after acquiring an additional 529,356 shares during the last quarter. 91.15% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:ON traded up $1.05 during trading on Wednesday, reaching $48.90. The stock had a trading volume of 277,949 shares, compared to its average volume of 6,344,815. ON Semiconductor has a 52 week low of $19.75 and a 52 week high of $48.46. The firm has a market capitalization of $21.05 billion, a price-to-earnings ratio of 39.55, a P/E/G ratio of 0.35 and a beta of 1.87. The company has a quick ratio of 1.32, a current ratio of 2.22 and a debt-to-equity ratio of 0.76. The stock has a fifty day simple moving average of $41.76 and a two-hundred day simple moving average of $40.15.

ON Semiconductor Company Profile

ON Semiconductor Corp. engages in the design, manufacture, and marketing of portfolio of semiconductor components. It operates through the following segments: Power Solutions Group, Advanced Solutions Group, and Intelligent Sensing Group. The Power Solutions Group segment offers discrete, module, and semiconductor products that perform multiple application functions, including power switching, power conversion, signal conditioning, circuit protection, signal amplification, and voltage reference functions.

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

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