Equities research analysts expect that ON Semiconductor (NASDAQ:ON) will report sales of $1.36 billion for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have issued estimates for ON Semiconductor’s earnings. The highest sales estimate is $1.37 billion and the lowest is $1.34 billion. ON Semiconductor reported sales of $1.44 billion during the same quarter last year, which would suggest a negative year-over-year growth rate of 5.6%. The firm is scheduled to issue its next earnings report before the market opens on Monday, April 30th.
On average, analysts expect that ON Semiconductor will report full year sales of $5.68 billion for the current fiscal year, with estimates ranging from $5.55 billion to $5.72 billion. For the next fiscal year, analysts anticipate that the business will report sales of $5.85 billion per share, with estimates ranging from $5.65 billion to $5.97 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for ON Semiconductor.
ON Semiconductor (NASDAQ:ON) last announced its quarterly earnings data on Friday, February 2nd. The semiconductor company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.02. The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.35 billion. ON Semiconductor had a return on equity of 21.88% and a net margin of 14.63%. The firm’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.29 EPS.
ON has been the subject of a number of recent research reports. ValuEngine raised ON Semiconductor from a “buy” rating to a “strong-buy” rating in a research note on Monday, April 2nd. Zacks Investment Research raised ON Semiconductor from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Tuesday, March 6th. Mizuho raised their target price on ON Semiconductor from $26.00 to $27.00 and gave the stock a “buy” rating in a research note on Monday, February 5th. Citigroup raised their target price on ON Semiconductor from $24.00 to $28.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th. Finally, Piper Jaffray initiated coverage on ON Semiconductor in a research note on Monday, December 18th. They issued a “neutral” rating and a $21.00 target price for the company. One analyst has rated the stock with a sell rating, eight have given a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $24.09.
Shares of ON stock opened at $25.01 on Monday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.31 and a current ratio of 2.08. The firm has a market capitalization of $10,840.37, a price-to-earnings ratio of 17.13, a PEG ratio of 1.20 and a beta of 2.00. ON Semiconductor has a fifty-two week low of $13.65 and a fifty-two week high of $27.10.
In other news, Director Atsushi Abe sold 20,000 shares of ON Semiconductor stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $22.53, for a total value of $450,600.00. Following the completion of the transaction, the director now owns 154,913 shares in the company, valued at approximately $3,490,189.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Bernard Gutmann sold 126,667 shares of ON Semiconductor stock in a transaction dated Thursday, March 22nd. The shares were sold at an average price of $26.01, for a total value of $3,294,608.67. Following the completion of the transaction, the chief financial officer now owns 665,507 shares of the company’s stock, valued at approximately $17,309,837.07. The disclosure for this sale can be found here. Insiders sold a total of 274,983 shares of company stock valued at $6,923,771 in the last quarter. Company insiders own 1.60% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in ON. LSV Asset Management lifted its stake in ON Semiconductor by 63.1% during the fourth quarter. LSV Asset Management now owns 7,255,728 shares of the semiconductor company’s stock worth $151,934,000 after purchasing an additional 2,806,816 shares during the last quarter. Bank of Montreal Can lifted its stake in ON Semiconductor by 132.3% during the fourth quarter. Bank of Montreal Can now owns 4,044,634 shares of the semiconductor company’s stock worth $84,695,000 after purchasing an additional 2,303,338 shares during the last quarter. OppenheimerFunds Inc. lifted its stake in ON Semiconductor by 121.6% during the fourth quarter. OppenheimerFunds Inc. now owns 2,658,938 shares of the semiconductor company’s stock worth $55,679,000 after purchasing an additional 1,458,938 shares during the last quarter. First Trust Advisors LP lifted its stake in ON Semiconductor by 98.1% during the fourth quarter. First Trust Advisors LP now owns 2,536,396 shares of the semiconductor company’s stock worth $53,112,000 after purchasing an additional 1,255,892 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in ON Semiconductor by 140.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,417,200 shares of the semiconductor company’s stock worth $29,676,000 after purchasing an additional 827,000 shares during the last quarter. Institutional investors and hedge funds own 97.17% of the company’s stock.
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About ON Semiconductor
ON Semiconductor Corporation manufactures and sells semiconductor components for various electronic devices worldwide. It operates through three segments: Power Solutions Group, Analog Solutions Group, and Image Sensor Group. The Power Solutions Group segment offers discrete, module, and integrated semiconductor products for various applications, such as power switching, power conversion, signal conditioning, circuit protection, signal amplification, and voltage reference.
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