Roth Capital Weighs in on Onsemi’s Q4 Earnings (NASDAQ:ON)

Onsemi (NASDAQ:ON) – Equities researchers at Roth Capital reduced their Q4 2024 EPS estimates for Onsemi in a research report issued on Monday, October 28th. Roth Capital analyst S. Desilva now forecasts that the semiconductor company will earn $0.97 per share for the quarter, down from their previous forecast of $1.02. The consensus estimate for Onsemi’s current full-year earnings is $4.01 per share. Roth Capital also issued estimates for Onsemi’s Q1 2025 earnings at $0.96 EPS, Q2 2025 earnings at $1.04 EPS, Q3 2025 earnings at $1.15 EPS, Q4 2025 earnings at $1.20 EPS and FY2025 earnings at $4.35 EPS.

Onsemi (NASDAQ:ON) last announced its earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.02. Onsemi had a return on equity of 25.48% and a net margin of 24.84%. The company had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same period in the previous year, the firm earned $1.39 earnings per share. Onsemi’s revenue for the quarter was down 19.2% compared to the same quarter last year.

Several other brokerages also recently issued reports on ON. Needham & Company LLC cut their target price on shares of Onsemi from $92.00 to $87.00 and set a “buy” rating on the stock in a research note on Tuesday. Truist Financial dropped their price target on Onsemi from $97.00 to $89.00 and set a “buy” rating on the stock in a research report on Tuesday. BNP Paribas decreased their price objective on Onsemi from $60.00 to $55.00 in a research report on Friday, October 25th. KeyCorp dropped their target price on Onsemi from $95.00 to $90.00 and set an “overweight” rating on the stock in a report on Tuesday, October 8th. Finally, Morgan Stanley boosted their price target on Onsemi from $63.00 to $64.00 and gave the company an “underweight” rating in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $85.57.

Onsemi Price Performance

ON stock opened at $74.70 on Wednesday. The firm has a 50-day moving average of $71.49 and a two-hundred day moving average of $71.48. The firm has a market capitalization of $32.00 billion, a PE ratio of 18.54, a P/E/G ratio of 3.82 and a beta of 1.65. The company has a current ratio of 3.01, a quick ratio of 1.95 and a debt-to-equity ratio of 0.31. Onsemi has a one year low of $59.34 and a one year high of $86.77.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Davis Investment Partners LLC raised its stake in shares of Onsemi by 0.8% in the third quarter. Davis Investment Partners LLC now owns 17,112 shares of the semiconductor company’s stock worth $1,224,000 after acquiring an additional 142 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its position in Onsemi by 36.7% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock valued at $43,000 after buying an additional 169 shares during the last quarter. Greenleaf Trust increased its stake in shares of Onsemi by 3.4% in the 3rd quarter. Greenleaf Trust now owns 5,262 shares of the semiconductor company’s stock valued at $382,000 after buying an additional 173 shares during the period. Covestor Ltd raised its position in shares of Onsemi by 24.5% during the first quarter. Covestor Ltd now owns 965 shares of the semiconductor company’s stock worth $71,000 after acquiring an additional 190 shares during the last quarter. Finally, Meridian Financial Partners LLC lifted its stake in shares of Onsemi by 1.7% during the third quarter. Meridian Financial Partners LLC now owns 11,305 shares of the semiconductor company’s stock valued at $821,000 after acquiring an additional 192 shares during the period. 97.70% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $72.71, for a total value of $109,065.00. Following the sale, the chief executive officer now directly owns 839,210 shares in the company, valued at $61,018,959.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.31% of the company’s stock.

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.