Yahoo Finance ON Semiconductor Corp. (ON) Dips More Than Broader Markets: What You Should Know
ON Semiconductor Corp. (ON) closed the most recent trading day at $76.46, moving -0.98% from the previous trading session. This change lagged the S&P 500's 0.41% loss on the day. Elsewhere, the Dow lost 0.11%, while the tech-heavy Nasdaq lost 4.08%.
Heading into today, shares of the semiconductor components maker had lost 4.9% over the past month, lagging the Computer and Technology sector's gain of 9.46% and the S&P 500's gain of 6.51% in that time.
Investors will be hoping for strength from ON Semiconductor Corp. as it approaches its next earnings release. On that day, ON Semiconductor Corp. is projected to report earnings of $1.09 per share, which would represent a year-over-year decline of 10.66%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.92 billion, down 1.22% from the year-ago period.
ON's full-year Zacks Consensus Estimates are calling for earnings of $4.42 per share and revenue of $7.84 billion. These results would represent year-over-year changes of -17.07% and -5.78%, respectively.
Investors should also note any recent changes to analyst estimates for ON Semiconductor Corp.These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. ON Semiconductor Corp. is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note ON Semiconductor Corp.'s current valuation metrics, including its Forward P/E ratio of 17.49. Its industry sports an average Forward P/E of 17.87, so we one might conclude that ON Semiconductor Corp. is trading at a discount comparatively.
Investors should also note that ON has a PEG ratio of 4.75 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. ON's industry had an average PEG ratio of 1.46 as of yesterday's close.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 37, putting it in the top 15% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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ON Semiconductor Corporation (ON) : Free Stock Analysis Report
