Q3 2024 Earnings Forecast for Onsemi (NASDAQ:ON) Issued By KeyCorp

Onsemi (NASDAQ:ON) – Stock analysts at KeyCorp issued their Q3 2024 earnings estimates for Onsemi in a research report issued on Monday, October 7th. KeyCorp analyst J. Vinh forecasts that the semiconductor company will post earnings of $0.98 per share for the quarter. KeyCorp has a “Overweight” rating and a $90.00 price objective on the stock. The consensus estimate for Onsemi’s current full-year earnings is $4.01 per share. KeyCorp also issued estimates for Onsemi’s Q4 2024 earnings at $1.01 EPS and FY2024 earnings at $4.02 EPS.

A number of other analysts have also weighed in on the stock. Morgan Stanley lowered shares of Onsemi from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $70.00 to $65.00 in a research note on Thursday, July 11th. Benchmark upped their target price on Onsemi from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft lifted their price target on Onsemi from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. TD Cowen boosted their price objective on Onsemi from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Finally, StockNews.com cut Onsemi from a “hold” rating to a “sell” rating in a research note on Monday, August 26th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $85.83.

Onsemi Stock Up 0.0 %

ON opened at $70.33 on Thursday. The stock’s 50 day moving average price is $72.06 and its 200 day moving average price is $71.57. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.01 and a quick ratio of 1.95. The stock has a market cap of $30.13 billion, a P/E ratio of 16.02, a P/E/G ratio of 3.81 and a beta of 1.65. Onsemi has a 12 month low of $59.34 and a 12 month high of $95.59.

Onsemi (NASDAQ:ON) last announced its quarterly earnings results on Monday, July 29th. The semiconductor company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.04. Onsemi had a net margin of 24.84% and a return on equity of 25.48%. The company had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the previous year, the company posted $1.33 earnings per share. The company’s revenue for the quarter was down 17.2% compared to the same quarter last year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Westside Investment Management Inc. lifted its stake in shares of Onsemi by 5,500.0% in the first quarter. Westside Investment Management Inc. now owns 560 shares of the semiconductor company’s stock valued at $41,000 after buying an additional 550 shares during the period. Massmutual Trust Co. FSB ADV grew its holdings in shares of Onsemi by 36.7% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 169 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of Onsemi during the second quarter valued at approximately $43,000. Fidelis Capital Partners LLC acquired a new position in shares of Onsemi in the first quarter valued at $45,000. Finally, Oakworth Capital Inc. bought a new position in Onsemi in the second quarter worth $53,000. 97.70% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Simon Keeton sold 30,939 shares of Onsemi stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $77.94, for a total value of $2,411,385.66. Following the completion of the sale, the insider now owns 231,092 shares of the company’s stock, valued at approximately $18,011,310.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Onsemi news, insider Simon Keeton sold 30,939 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $77.94, for a total transaction of $2,411,385.66. Following the completion of the sale, the insider now owns 231,092 shares of the company’s stock, valued at $18,011,310.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Hassane El-Khoury sold 1,500 shares of Onsemi stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $70.80, for a total transaction of $106,200.00. Following the completion of the transaction, the chief executive officer now directly owns 840,620 shares in the company, valued at approximately $59,515,896. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by corporate insiders.

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.