ON Semiconductor Corp. (ON) Outpaces Stock Market Gains: What You Should Know

ON Semiconductor Corp. (ON) ended the recent trading session at $49.27, demonstrating a +1.09% change from the preceding day's closing price. The stock outperformed the S&P 500, which registered a daily gain of 0.01%. On the other hand, the Dow registered a gain of 0.51%, and the technology-centric Nasdaq decreased by 0.28%. The stock of semiconductor components maker has risen by 1.41% in the past month, lagging the Computer and Technology sector's gain of 10.49% and the S&P 500's gain of 4.83%.Analysts and investors alike will be keeping a close eye on the performance of ON Semiconductor Corp. in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.59, signifying a 40.40% drop compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $1.52 billion, indicating a 14.01% decrease compared to the same quarter of the previous year. Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $2.32 per share and revenue of $5.96 billion. These totals would mark changes of -41.71% and -15.89%, respectively, from last year. Investors might also notice recent changes to analyst estimates for ON Semiconductor Corp. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook. Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system. The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. As of now, ON Semiconductor Corp. holds a Zacks Rank of #3 (Hold). In terms of valuation, ON Semiconductor Corp. is currently trading at a Forward P/E ratio of 21. This expresses a discount compared to the average Forward P/E of 44.05 of its industry. It is also worth noting that ON currently has a PEG ratio of 2.43. 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 2.14 at the close of the market yesterday. The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 28, putting it in the top 12% of all 250+ industries. The Zacks Industry Rank is ordered 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. Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com. Research Chief Names "Single Best Pick to Double"From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant 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