Onsemi (NASDAQ:ON) Releases Earnings Results, Beats Estimates By $0.04 EPS

Onsemi (NASDAQ:ON) posted its quarterly earnings results on Monday. The semiconductor company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04, Briefing.com reports. Onsemi had a net margin of 26.46% and a return on equity of 31.36%. The business had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.85 billion. During the same period in the prior year, the company posted $1.19 EPS. The business’s revenue for the quarter was down 4.9% on a year-over-year basis. Onsemi updated its Q2 guidance to $0.86-0.98 EPS.

Onsemi Stock Up 0.6 %

Shares of ON stock opened at $68.50 on Monday. The stock’s 50 day simple moving average is $73.11 and its 200 day simple moving average is $75.28. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.74 and a current ratio of 2.71. Onsemi has a twelve month low of $59.34 and a twelve month high of $111.35. The company has a market capitalization of $29.44 billion, a price-to-earnings ratio of 13.92, a PEG ratio of 6.71 and a beta of 1.80.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Evercore ISI began coverage on shares of Onsemi in a report on Tuesday, April 16th. They issued an “outperform” rating and a $104.00 target price on the stock. Truist Financial lowered their price objective on shares of Onsemi from $94.00 to $89.00 and set a “buy” rating for the company in a research report on Tuesday, February 6th. Mizuho reduced their target price on Onsemi from $98.00 to $92.00 and set a “buy” rating for the company in a research note on Tuesday, February 6th. Stifel Nicolaus reduced their target price on Onsemi from $82.00 to $72.00 and set a “hold” rating for the company in a research note on Thursday, April 18th. Finally, The Goldman Sachs Group reduced their price objective on Onsemi from $91.00 to $81.00 and set a “buy” rating on the stock in a research note on Tuesday, April 16th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.28.

Onsemi Company Profile

onsemi is engaged in disruptive innovations and also a supplier of power and analog semiconductors. The firm offers vehicle electrification and safety, sustainable energy grids, industrial automation, and 5G and cloud infrastructure, with a focus on automotive and industrial end-markets. It operates through the following segments: Power Solutions Group, Advanced Solutions Group, and Intelligent Sensing Group.