ON Semiconductor (NASDAQ:ON) Releases Q3 2022 Earnings Guidance

ON Semiconductor (NASDAQ:ONGet Rating) updated its third quarter 2022 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $1.25-$1.37 for the period, compared to the consensus estimate of $1.21. The company issued revenue guidance of $2.07 billion-$2.17 billion, compared to the consensus revenue estimate of $2.02 billion.

Analyst Upgrades and Downgrades

ON has been the topic of several recent analyst reports. Susquehanna Bancshares boosted their price objective on shares of ON Semiconductor from $77.00 to $82.00 and gave the stock a positive rating in a research note on Tuesday. StockNews.com lowered shares of ON Semiconductor from a buy rating to a hold rating in a research note on Wednesday. Mizuho upped their price target on shares of ON Semiconductor from $68.00 to $72.00 and gave the company a buy rating in a research note on Tuesday. The Goldman Sachs Group boosted their price objective on shares of ON Semiconductor from $60.00 to $68.00 and gave the company a buy rating in a report on Tuesday. Finally, Cowen boosted their price objective on shares of ON Semiconductor from $65.00 to $81.00 and gave the company an outperform rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $72.23.

ON Semiconductor Stock Performance

Shares of NASDAQ:ON traded down $0.42 during trading on Friday, hitting $67.63. The company’s stock had a trading volume of 7,256,615 shares, compared to its average volume of 7,924,635. The company has a 50-day moving average of $57.43 and a 200-day moving average of $57.60. The firm has a market cap of $29.30 billion, a price-to-earnings ratio of 17.52, a P/E/G ratio of 0.52 and a beta of 1.82. ON Semiconductor has a 12 month low of $40.85 and a 12 month high of $71.25. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.79 and a quick ratio of 1.83.

ON Semiconductor (NASDAQ:ONGet Rating) last released its earnings results on Monday, August 1st. The semiconductor company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.08. The company had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.01 billion. ON Semiconductor had a net margin of 22.60% and a return on equity of 41.43%. The firm’s quarterly revenue was up 24.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.63 EPS. On average, sell-side analysts expect that ON Semiconductor will post 5.13 earnings per share for the current year.

Insider Buying and Selling at ON Semiconductor

In related news, EVP Vince Craig Hopkin sold 6,296 shares of the firm’s stock in a transaction on Tuesday, May 10th. The shares were sold at an average price of $52.10, for a total value of $328,021.60. Following the completion of the transaction, the executive vice president now directly owns 169,073 shares of the company’s stock, valued at $8,808,703.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, EVP Vince Craig Hopkin sold 6,296 shares of the firm’s stock in a transaction on Tuesday, May 10th. The shares were sold at an average price of $52.10, for a total value of $328,021.60. Following the completion of the transaction, the executive vice president now directly owns 169,073 shares of the company’s stock, valued at $8,808,703.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Hassane El-Khoury sold 20,000 shares of the firm’s stock in a transaction on Monday, July 18th. The shares were sold at an average price of $56.17, for a total transaction of $1,123,400.00. Following the completion of the transaction, the chief executive officer now directly owns 261,162 shares of the company’s stock, valued at $14,669,469.54. The disclosure for this sale can be found here. Insiders own 0.40% of the company’s stock.

Institutional Trading of ON Semiconductor

Institutional investors have recently bought and sold shares of the stock. Echo Street Capital Management LLC bought a new stake in shares of ON Semiconductor during the first quarter worth $203,000. SVB Wealth LLC lifted its position in shares of ON Semiconductor by 7.1% during the first quarter. SVB Wealth LLC now owns 3,507 shares of the semiconductor company’s stock worth $219,000 after purchasing an additional 231 shares during the last quarter. Fund Management at Engine No. 1 LLC bought a new stake in shares of ON Semiconductor during the first quarter worth $229,000. Mirabella Financial Services LLP bought a new stake in shares of ON Semiconductor during the first quarter worth $254,000. Finally, Moors & Cabot Inc. lifted its position in shares of ON Semiconductor by 18.1% during the first quarter. Moors & Cabot Inc. now owns 4,073 shares of the semiconductor company’s stock worth $255,000 after purchasing an additional 624 shares during the last quarter. 92.86% of the stock is currently owned by institutional investors.

ON Semiconductor Company Profile

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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.

See Also

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

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