ON Semiconductor Corp. (ON) Dips More Than Broader Market: What You Should Know

ON Semiconductor Corp. (ON) closed the most recent trading day at $52.94, moving -1.74% from the previous trading session. This change lagged the S&P 500's 0.84% loss on the day. Elsewhere, the Dow lost 0.7%, while the tech-heavy Nasdaq lost 0.91%. Coming into today, shares of the semiconductor components maker had gained 19.95% in the past month. In that same time, the Computer and Technology sector gained 0%, while the S&P 500 gained 1.44%. Analysts and investors alike will be keeping a close eye on the performance of ON Semiconductor Corp. in its upcoming earnings disclosure. On that day, ON Semiconductor Corp. is projected to report earnings of $0.54 per share, which would represent a year-over-year decline of 43.75%. At the same time, our most recent consensus estimate is projecting a revenue of $1.45 billion, reflecting a 16.44% fall from the equivalent quarter last year. For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $2.31 per share and a revenue of $5.9 billion, representing changes of -41.96% and -16.64%, respectively, from the prior year. It is also important to note the recent changes to analyst estimates for ON Semiconductor Corp. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability. Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system. 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 moved 0.58% lower. Currently, ON Semiconductor Corp. is carrying a Zacks Rank of #3 (Hold). Valuation is also important, so investors should note that ON Semiconductor Corp. has a Forward P/E ratio of 23.32 right now. Its industry sports an average Forward P/E of 33, so one might conclude that ON Semiconductor Corp. is trading at a discount comparatively. Also, we should mention that ON has a PEG ratio of 4.39. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Semiconductor - Analog and Mixed industry had an average PEG ratio of 2.62 as trading concluded yesterday. The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 146, finds itself in the bottom 41% echelons of all 250+ industries. The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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. Don’t Miss Out on These Stocks Before you make your next investing move, we have a free report that highlights the %%CTA_TEXT%% to buy.Our experts at Zacks Investment Research hand-selected these stocks for their eye-opening growth projections.Since 1988, our stock picks have more than doubled the S&P 500 with an average gain of +23.89% per year using the Zacks Rank stock-rating system.Register now to see the %%CTA_TEXT%%.7 best stocksWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report ON Semiconductor Corporation (ON): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks