Zacks: Analysts Anticipate ON Semiconductor Corporation (ON) Will Announce Quarterly Sales of $1.35 Billion
Equities research analysts expect that ON Semiconductor Corporation (NASDAQ:ON) will post $1.35 billion in sales for the current fiscal quarter, Zacks reports. Nine analysts have made estimates for ON Semiconductor Corporation’s earnings, with the highest sales estimate coming in at $1.37 billion and the lowest estimate coming in at $1.34 billion. ON Semiconductor Corporation posted sales of $1.26 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 7.1%. The company is expected to announce its next earnings results on Monday, February 12th.
According to Zacks, analysts expect that ON Semiconductor Corporation will report full year sales of $1.35 billion for the current financial year, with estimates ranging from $5.33 billion to $5.53 billion. For the next year, analysts expect that the business will report sales of $5.57 billion per share, with estimates ranging from $5.49 billion to $5.71 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for ON Semiconductor Corporation.
A number of analysts have issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $25.00 target price on shares of ON Semiconductor Corporation in a research note on Monday, September 11th. BidaskClub raised shares of ON Semiconductor Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Robert W. Baird reissued a “buy” rating and issued a $20.00 price target on shares of ON Semiconductor Corporation in a report on Thursday, August 24th. B. Riley restated a “buy” rating and issued a $21.00 target price on shares of ON Semiconductor Corporation in a research note on Sunday, August 13th. Finally, ValuEngine downgraded shares of ON Semiconductor Corporation from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $21.23.
ON Semiconductor Corporation (ON) traded up $0.02 during trading on Friday, hitting $21.58. 6,357,500 shares of the stock traded hands, compared to its average volume of 6,242,410. The stock has a market capitalization of $9,144.94, a P/E ratio of 19.78, a P/E/G ratio of 0.82 and a beta of 2.06. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.25 and a current ratio of 1.97. ON Semiconductor Corporation has a 1-year low of $10.85 and a 1-year high of $22.03.
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In other ON Semiconductor Corporation news, VP Paul E. Rolls sold 10,000 shares of ON Semiconductor Corporation stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $17.00, for a total value of $170,000.00. Following the transaction, the vice president now owns 368,029 shares in the company, valued at $6,256,493. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Robert A. Klosterboer sold 27,937 shares of ON Semiconductor Corporation stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $21.52, for a total value of $601,204.24. Following the completion of the transaction, the executive vice president now owns 437,785 shares in the company, valued at approximately $9,421,133.20. The disclosure for this sale can be found here. Insiders sold 702,820 shares of company stock worth $13,829,322 in the last 90 days. 1.40% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Teacher Retirement System of Texas increased its holdings in shares of ON Semiconductor Corporation by 0.4% during the second quarter. Teacher Retirement System of Texas now owns 33,379 shares of the semiconductor company’s stock valued at $469,000 after acquiring an additional 127 shares in the last quarter. Chase Investment Counsel Corp increased its holdings in shares of ON Semiconductor Corporation by 0.3% during the second quarter. Chase Investment Counsel Corp now owns 91,155 shares of the semiconductor company’s stock valued at $1,279,000 after acquiring an additional 254 shares in the last quarter. Numeric Investors LLC increased its holdings in shares of ON Semiconductor Corporation by 0.3% during the second quarter. Numeric Investors LLC now owns 89,300 shares of the semiconductor company’s stock valued at $1,254,000 after acquiring an additional 300 shares in the last quarter. Krilogy Financial LLC grew its holdings in ON Semiconductor Corporation by 2.8% during the second quarter. Krilogy Financial LLC now owns 16,400 shares of the semiconductor company’s stock worth $230,000 after buying an additional 450 shares in the last quarter. Finally, Hillsdale Investment Management Inc. grew its holdings in ON Semiconductor Corporation by 2.3% during the second quarter. Hillsdale Investment Management Inc. now owns 21,170 shares of the semiconductor company’s stock worth $298,000 after buying an additional 470 shares in the last quarter. Hedge funds and other institutional investors own 96.09% of the company’s stock.
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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