ON Semiconductor(ON) Zacks Investment Research·2024-02-01 23:50Stock Performance - ON Semiconductor Corp closed at $70 19, down 1 32% from the previous session, underperforming the S&P 500's 1 25% gain, the Dow's 0 97% gain, and the Nasdaq's 1 3% gain [1] - The stock has declined by 10 31% over the past month, underperforming the Computer and Technology sector's 2 42% gain and the S&P 500's 1 58% gain [1] Earnings and Revenue Projections - The company is scheduled to release its earnings on February 5, 2024, with projected EPS of $1 21, an 8 33% decrease from the same quarter last year [1] - Revenue is expected to be $2 billion, down 4 73% from the prior-year quarter [1] Analyst Estimates and Zacks Rank - Recent adjustments to analyst estimates reflect near-term business trends, with positive revisions indicating a favorable business outlook [2] - The Zacks Rank system, which incorporates estimate changes, has a strong track record, with 1 ranked stocks delivering an average annual return of +25% since 1988 [2] - ON Semiconductor Corp currently holds a Zacks Rank of 3 (Hold), with the consensus EPS projection revised 1 26% lower over the past 30 days [2] Valuation Metrics - ON Semiconductor Corp is trading at a Forward P/E ratio of 14 74, a discount compared to the industry average of 27 28 [3] - The company has a PEG ratio of 1 26, lower than the industry average of 2 82, indicating a more favorable valuation relative to earnings growth [3] Industry Ranking - The Semiconductor - Analog and Mixed industry, part of the Computer and Technology sector, has a Zacks Industry Rank of 220, placing it in the bottom 13% of over 250 industries [3] - Research shows that the top 50% of industries outperform the bottom half by a factor of 2 to 1 [4]