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In the latest market close, ON Semiconductor Corp. (ON) reached $34.64, with a +1.14% movement compared to the previous day. The stock outperformed the S&P 500, which registered a daily gain of 0.13%. At the same time, the Dow lost 1.33%, and the tech-heavy Nasdaq lost 0.13%.
Shares of the semiconductor components maker have depreciated by 21.41% over the course of the past month, underperforming the Computer and Technology sector's loss of 9.27% and the S&P 500's loss of 6.3%.
The investment community will be closely monitoring the performance of ON Semiconductor Corp. in its forthcoming earnings report. The company's upcoming EPS is projected at $0.51, signifying a 52.78% drop compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $1.41 billion, down 24.56% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.49 per share and a revenue of $5.92 billion, signifying shifts of -37.44% and -16.39%, respectively, from the last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for ON Semiconductor Corp. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 witnessed an unchanged state. As of now, ON Semiconductor Corp. holds a Zacks Rank of #5 (Strong Sell).
With respect to valuation, ON Semiconductor Corp. is currently being traded at a Forward P/E ratio of 13.77. This valuation marks a discount compared to its industry's average Forward P/E of 24.76.
We can also see that ON currently has a PEG ratio of 10.76. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Semiconductor - Analog and Mixed industry currently had an average PEG ratio of 1.69 as of yesterday's close.