ON Semiconductor Corp. (ON) closed the most recent trading day at $61.61, moving -1.22% from the previous trading session. This change lagged the S&P 500's 0.4% loss on the day. Meanwhile, the Dow lost 0.03%, and the Nasdaq, a tech-heavy index, lost 4.72%.
Prior to today's trading, shares of the semiconductor components maker had lost 12.86% over the past month. This has lagged the Computer and Technology sector's loss of 8.46% and the S&P 500's loss of 5.57% in that time.
ON Semiconductor Corp. will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.26, up 15.6% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $2.08 billion, up 12.78% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for ON Semiconductor Corp.Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Within the past 30 days, our consensus EPS projection has moved 0.22% lower. ON Semiconductor Corp. is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, ON Semiconductor Corp. currently has a Forward P/E ratio of 11.82. Its industry sports an average Forward P/E of 14.33, so we one might conclude that ON Semiconductor Corp. is trading at a discount comparatively.
Meanwhile, ON's PEG ratio is currently 0.58. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Semiconductor - Analog and Mixed industry currently had an average PEG ratio of 0.72 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 151, putting it in the bottom 41% 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.
To follow ON in the coming trading sessions, be sure to utilize Zacks.com.
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January 04, 2023 at 05:50AM
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ON Semiconductor Corp. (ON) Dips More Than Broader Markets: What You Should Know - Yahoo Finance
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