ON Semiconductor Corporation (NASDAQ:ON) Expected to Announce Quarterly Sales of $1.36 Billion
Wall Street brokerages expect that ON Semiconductor Corporation (NASDAQ:ON) will report $1.36 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for ON Semiconductor Corporation’s earnings. The highest sales estimate is $1.38 billion and the lowest is $1.35 billion. ON Semiconductor Corporation posted sales of $950.90 million during the same quarter last year, which suggests a positive year over year growth rate of 43%. The company is expected to report its next earnings results on Monday, November 6th.
According to Zacks, analysts expect that ON Semiconductor Corporation will report full-year sales of $1.36 billion for the current fiscal year, with estimates ranging from $5.23 billion to $5.46 billion. For the next year, analysts anticipate that the company will report sales of $5.40 billion per share, with estimates ranging from $5.33 billion to $5.52 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow ON Semiconductor Corporation.
Several brokerages have recently weighed in on ON. ValuEngine lowered shares of ON Semiconductor Corporation from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. B. Riley reiterated a “buy” rating and set a $18.00 target price on shares of ON Semiconductor Corporation in a research report on Monday, May 8th. Morgan Stanley lifted their target price on shares of ON Semiconductor Corporation from $16.00 to $17.00 and gave the company an “equal weight” rating in a research report on Tuesday. BidaskClub lowered shares of ON Semiconductor Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Finally, Credit Suisse Group lifted their target price on shares of ON Semiconductor Corporation from $13.50 to $14.50 and gave the company an “underperform” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $16.61.
In related news, EVP William Hall sold 41,364 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $15.30, for a total transaction of $632,869.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP George H. Cave sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $15.40, for a total transaction of $308,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 124,690 shares of company stock valued at $1,954,040. Insiders own 1.60% of the company’s stock.
Large investors have recently bought and sold shares of the company. Lockheed Martin Investment Management Co. increased its stake in ON Semiconductor Corporation by 22.6% in the first quarter. Lockheed Martin Investment Management Co. now owns 81,550 shares of the semiconductor company’s stock worth $1,263,000 after buying an additional 15,010 shares during the period. IFP Advisors Inc increased its stake in ON Semiconductor Corporation by 87.5% in the first quarter. IFP Advisors Inc now owns 28,112 shares of the semiconductor company’s stock worth $435,000 after buying an additional 13,118 shares during the period. Bank of Montreal Can increased its stake in ON Semiconductor Corporation by 93.2% in the second quarter. Bank of Montreal Can now owns 1,840,953 shares of the semiconductor company’s stock worth $25,847,000 after buying an additional 888,022 shares during the period. Stephens Inc. AR increased its stake in ON Semiconductor Corporation by 7.2% in the first quarter. Stephens Inc. AR now owns 110,224 shares of the semiconductor company’s stock worth $1,707,000 after buying an additional 7,406 shares during the period. Finally, Nationwide Fund Advisors increased its stake in ON Semiconductor Corporation by 24.3% in the first quarter. Nationwide Fund Advisors now owns 1,071,404 shares of the semiconductor company’s stock worth $16,596,000 after buying an additional 209,504 shares during the period. 97.43% of the stock is owned by institutional investors and hedge funds.
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Shares of ON Semiconductor Corporation (NASDAQ:ON) opened at 16.44 on Wednesday. ON Semiconductor Corporation has a 1-year low of $10.03 and a 1-year high of $16.93. The firm has a market cap of $6.92 billion, a price-to-earnings ratio of 31.62 and a beta of 1.97. The company’s 50-day moving average is $14.90 and its 200 day moving average is $14.89.
About ON Semiconductor Corporation
ON Semiconductor Corporation offers a portfolio of sensors, power management, connectivity, custom and system on chip (SoC), analog, logic, timing, and discrete devices. The Company’s segments include Power Solutions Group, Analog Solutions Group and Image Sensor Group. The Power Solutions Group offers a range of discrete, module and integrated semiconductor products.
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