Onsemi (NASDAQ:ON) Announces Quarterly Earnings Results

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

Onsemi Trading Up 0.8 %

Shares of ON stock opened at $68.60 on Monday. The stock has a market cap of $29.49 billion, a price-to-earnings ratio of 13.92, a price-to-earnings-growth ratio of 6.71 and a beta of 1.80. The company has a quick ratio of 1.74, a current ratio of 2.71 and a debt-to-equity ratio of 0.33. Onsemi has a fifty-two week low of $59.34 and a fifty-two week high of $111.35. The firm’s 50 day moving average price is $73.11 and its two-hundred day moving average price is $75.28.

Analysts Set New Price Targets

ON has been the topic of several recent research reports. Wells Fargo & Company cut their target price on shares of Onsemi from $110.00 to $95.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 23rd. Morgan Stanley dropped their price objective on shares of Onsemi from $80.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Monday, April 22nd. Truist Financial dropped their price objective on shares of Onsemi from $94.00 to $89.00 and set a “buy” rating on the stock in a research report on Tuesday, February 6th. JPMorgan Chase & Co. dropped their price objective on shares of Onsemi from $95.00 to $90.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 6th. Finally, Mizuho dropped their price objective on shares of Onsemi from $98.00 to $92.00 and set a “buy” rating on the stock in a research report on Tuesday, February 6th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, Onsemi presently has an average rating of “Moderate Buy” and a consensus price target of $95.28.

About Onsemi

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.