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In the latest market close, ON Semiconductor Corp. (ON) reached $40.69, with a -0.61% movement compared to the previous day. This change lagged the S&P 500's 0.55% gain on the day. On the other hand, the Dow registered a gain of 1.01%, and the technology-centric Nasdaq decreased by 0.14%.
Shares of the semiconductor components maker have depreciated by 12.99% over the course of the past month, underperforming the Computer and Technology sector's loss of 8.88% and the S&P 500's loss of 6.22%.
The investment community will be closely monitoring the performance of ON Semiconductor Corp. in its forthcoming earnings report. The company is expected to report EPS of $0.51, down 52.78% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $1.41 billion, reflecting a 24.54% fall from the equivalent quarter last year.
ON's full-year Zacks Consensus Estimates are calling for earnings of $2.49 per share and revenue of $6.07 billion. These results would represent year-over-year changes of -37.44% and -14.3%, respectively.
Investors might also notice recent changes to analyst estimates for ON Semiconductor Corp. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has moved 4.45% lower. At present, ON Semiconductor Corp. boasts a Zacks Rank of #5 (Strong Sell).
Looking at its valuation, ON Semiconductor Corp. is holding a Forward P/E ratio of 16.47. This valuation marks a discount compared to its industry's average Forward P/E of 28.34.
Investors should also note that ON has a PEG ratio of 12.86 right now. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Semiconductor - Analog and Mixed industry currently had an average PEG ratio of 1.88 as of yesterday's close.