ON Semiconductor Corp. (ON) Stock Slides as Market Rises: Facts to Know Before You Trade – Yahoo Canada Finance
ON Semiconductor Corp. (ON) closed the most recent trading day at $67.86, moving -0.45% from the previous trading session. This move lagged the S&P 500's daily gain of 0.09%. Meanwhile, the Dow experienced a rise of 0.09%, and the technology-dominated Nasdaq saw an increase of 0.3%.
Coming into today, shares of the semiconductor components maker had lost 4% in the past month. In that same time, the Computer and Technology sector gained 6.18%, while the S&P 500 gained 3.38%.
The investment community will be closely monitoring the performance of ON Semiconductor Corp. in its forthcoming earnings report. In that report, analysts expect ON Semiconductor Corp. to post earnings of $0.93 per share. This would mark a year-over-year decline of 30.08%. Alongside, our most recent consensus estimate is anticipating revenue of $1.73 billion, indicating a 17.32% downward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $3.83 per share and a revenue of $7.2 billion, representing changes of -25.78% and -12.78%, respectively, from the prior year.
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. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. ON Semiconductor Corp. currently has a Zacks Rank of #3 (Hold).
Investors should also note ON Semiconductor Corp.'s current valuation metrics, including its Forward P/E ratio of 17.81. Its industry sports an average Forward P/E of 36.51, so one might conclude that ON Semiconductor Corp. is trading at a discount comparatively.
It's also important to note that ON currently trades at a PEG ratio of 3.11. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The average PEG ratio for the Semiconductor – Analog and Mixed industry stood at 3.14 at the close of the market yesterday.
The Semiconductor – Analog and Mixed industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 157, which puts it in the bottom 38% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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