ON Semiconductor(US:ON) ZACKSยท2024-10-02 23:06Company Overview - ON Semiconductor Corp. (ON) closed at $71.51, reflecting a +0.65% change from the previous trading day's closing, outperforming the S&P 500's daily gain of 0.01% [1] - The stock has increased by 0.41% over the past month, underperforming the Computer and Technology sector's gain of 1.03% and the S&P 500's gain of 1.21% [1] Earnings Forecast - The upcoming earnings release is anticipated, with an expected EPS of $0.97, indicating a 30.22% decline from the same quarter last year [1] - Revenue is forecasted to be $1.75 billion, representing a 19.77% decrease compared to the year-ago quarter [1] - For the entire year, the Zacks Consensus Estimates predict earnings of $4.01 per share and revenue of $7.13 billion, reflecting changes of -22.29% and -13.6% respectively compared to the previous year [2] Analyst Estimates and Stock Performance - Changes in analyst estimates for ON Semiconductor Corp. are crucial as they indicate near-term business trends, with positive revisions seen as favorable for the company's outlook [2] - The Zacks Rank system, which assesses these estimate changes, currently ranks ON Semiconductor Corp. at 4 (Sell) [3] Valuation Metrics - ON Semiconductor Corp. is trading at a Forward P/E ratio of 17.72, which is a discount compared to its industry's Forward P/E of 35.26 [3] - The company has a PEG ratio of 3.81, higher than the industry average PEG ratio of 3.17 [3] Industry Context - The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector, currently holding a Zacks Industry Rank of 209, placing it in the bottom 18% of over 250 industries [3] - The Zacks Industry Rank indicates that the top 50% rated industries outperform the bottom half by a factor of 2 to 1 [4]