ON Semiconductor Corp. (ONNN) Set to Announce Quarterly Earnings on Thursday
ON Semiconductor Corp. (NASDAQ:ONNN) is set to issue its Q313 quarterly earnings data on Thursday, October 31st. Analysts expect the company to announce earnings of $0.16 per share and revenue of $716.32 million for the quarter. Parties interested in listening to the company’s conference call can do so using this link.
ON Semiconductor Corp. (NASDAQ:ONNN) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.13 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.13. The company had revenue of $688.30 million for the quarter, compared to the consensus estimate of $696.10 million. During the same quarter in the previous year, the company posted $0.14 earnings per share. The company’s revenue for the quarter was down 7.6% on a year-over-year basis. On average, analysts expect ON Semiconductor Corp. to post $0.55 EPS for the current fiscal year and $0.75 EPS for the next fiscal year.
Shares of ON Semiconductor Corp. (NASDAQ:ONNN) opened at 6.99 on Wednesday. ON Semiconductor Corp. has a 52-week low of $5.70 and a 52-week high of $8.73. The stock has a 50-day moving average of $7.52 and a 200-day moving average of $7.93. The company’s market cap is $3.145 billion.
Several analysts have recently commented on the stock. Analysts at Wedbush cut their price target on shares of ON Semiconductor Corp. from $9.00 to $8.00 in a research note to investors on Monday. They now have an “outperform” rating on the stock. On a related note, analysts at Raymond James cut their price target on shares of ON Semiconductor Corp. from $10.00 to $8.00 in a research note to investors on Thursday, October 10th. They now have an “outperform” rating on the stock. Finally, analysts at Morgan Stanley initiated coverage on shares of ON Semiconductor Corp. in a research note to investors on Friday, August 16th. They set an “underweight” rating on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $9.27.
ON Semiconductor Corporation (NASDAQ:ONNN) designs, manufactures and markets a portfolio of semiconductor components that address the design needs of electronic systems and products.
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