Onsemi (NASDAQ:ON) Releases Q2 Earnings Guidance

Onsemi (NASDAQ:ON) issued an update on its second quarter earnings guidance on Monday morning. The company provided EPS guidance of $0.86-0.98 for the period, compared to the consensus EPS estimate of $1.00. The company issued revenue guidance of $1.68-1.78 billion, compared to the consensus revenue estimate of $1.82 billion.

Onsemi Stock Up 2.5 %

Shares of NASDAQ:ON opened at $68.06 on Monday. Onsemi has a 52-week low of $59.34 and a 52-week high of $111.35. The company has a market capitalization of $29.26 billion, a PE ratio of 13.92, a price-to-earnings-growth ratio of 6.71 and a beta of 1.80. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.74 and a current ratio of 2.71. The company has a fifty day moving average of $73.11 and a 200-day moving average of $75.28.

Onsemi (NASDAQ:ON) last issued its earnings results on Monday, February 5th. The semiconductor company reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.04. Onsemi had a return on equity of 31.36% and a net margin of 26.46%. The business had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $2 billion. During the same quarter in the prior year, the firm earned $1.32 EPS. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. On average, equities analysts predict that Onsemi will post 4.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ON has been the topic of several research analyst reports. Morgan Stanley cut their target price on shares of Onsemi from $80.00 to $70.00 and set an equal weight rating on the stock in a research note on Monday, April 22nd. Susquehanna reissued a positive rating and issued a $90.00 price objective on shares of Onsemi in a research note on Monday, April 8th. Truist Financial decreased their price objective on Onsemi from $94.00 to $89.00 and set a buy rating for the company in a report on Tuesday, February 6th. TD Cowen increased their target price on Onsemi from $80.00 to $90.00 and gave the stock an outperform rating in a report on Tuesday, February 6th. Finally, Roth Mkm boosted their price target on shares of Onsemi from $75.00 to $90.00 and gave the company a buy rating in a research note on Tuesday, February 6th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company 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.