ON Semiconductor Corp. (ON) Registers a Bigger Fall Than the Market: Important Facts to Note

Company Performance - ON Semiconductor Corp. closed at $66.54, down 0.89% from the previous trading session, underperforming the S&P 500's daily loss of 0.05% [1] - The stock has decreased by 3.73% over the past month, while the Computer and Technology sector gained 3.5% and the S&P 500 gained 2.76% [1] - The upcoming earnings report on October 28, 2024, is expected to show earnings of $0.97 per share, reflecting a year-over-year decline of 30.22%, with quarterly revenue projected at $1.75 billion, down 19.77% from the previous year [1] Fiscal Year Estimates - For the entire fiscal year, earnings are predicted to be $4.01 per share and revenue at $7.13 billion, indicating declines of 22.29% and 13.61% respectively from the prior year [2] - Recent changes in analyst estimates suggest shifting business dynamics, with positive revisions indicating analyst optimism regarding the company's profitability [2] Valuation Metrics - ON Semiconductor Corp. has a Forward P/E ratio of 16.75, significantly lower than the industry average of 35.58, suggesting it is trading at a discount [3] - The company has a PEG ratio of 3.6, compared to the industry average PEG ratio of 3.35 [3] Industry Context - The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector and currently holds a Zacks Industry Rank of 174, placing it in the bottom 31% of over 250 industries [4] - The Zacks Industry Rank indicates that the top 50% of rated industries outperform the bottom half by a factor of 2 to 1 [4]