$1.37 Billion in Sales Expected for ON Semiconductor Corporation (ON) This Quarter
Brokerages expect ON Semiconductor Corporation (NASDAQ:ON) to post sales of $1.37 billion for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have issued estimates for ON Semiconductor Corporation’s earnings. The highest sales estimate is $1.38 billion and the lowest is $1.37 billion. ON Semiconductor Corporation posted sales of $950.90 million in the same quarter last year, which suggests a positive year-over-year growth rate of 44.1%. The business is expected to announce its next quarterly earnings report on Monday, November 6th.
On average, analysts expect that ON Semiconductor Corporation will report full year sales of $1.37 billion for the current year, with estimates ranging from $5.31 billion to $5.49 billion. For the next fiscal year, analysts forecast that the business will post sales of $5.47 billion per share, with estimates ranging from $5.41 billion to $5.52 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for ON Semiconductor Corporation.
ON has been the topic of a number of research reports. BidaskClub raised ON Semiconductor Corporation from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Bank of America Corporation reiterated a “buy” rating on shares of ON Semiconductor Corporation in a research report on Sunday. Craig Hallum initiated coverage on shares of ON Semiconductor Corporation in a report on Monday, September 25th. They issued a “buy” rating and a $25.00 target price for the company. KeyCorp reissued a “hold” rating on shares of ON Semiconductor Corporation in a report on Tuesday, September 12th. Finally, Goldman Sachs Group, Inc. (The) cut shares of ON Semiconductor Corporation from a “buy” rating to a “neutral” rating and set a $18.00 price target on the stock. in a research report on Tuesday, September 12th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company’s stock. ON Semiconductor Corporation currently has a consensus rating of “Buy” and an average target price of $18.28.
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In other ON Semiconductor Corporation news, VP Paul E. Rolls sold 10,000 shares of the firm’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $17.00, for a total transaction of $170,000.00. Following the transaction, the vice president now directly owns 368,029 shares in the company, valued at approximately $6,256,493. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daryl Ostrander sold 2,000 shares of the firm’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $16.78, for a total value of $33,560.00. Following the transaction, the director now owns 65,458 shares in the company, valued at $1,098,385.24. The disclosure for this sale can be found here. Insiders have sold a total of 55,308 shares of company stock valued at $970,767 in the last quarter. 1.60% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the business. Koch Industries Inc. purchased a new stake in shares of ON Semiconductor Corporation in the 2nd quarter worth $432,000. Piedmont Investment Advisors LLC grew its position in shares of ON Semiconductor Corporation by 118.9% during the 2nd quarter. Piedmont Investment Advisors LLC now owns 87,343 shares of the semiconductor company’s stock worth $1,226,000 after buying an additional 47,442 shares in the last quarter. Krilogy Financial LLC grew its position in shares of ON Semiconductor Corporation by 2.8% during the 2nd quarter. Krilogy Financial LLC now owns 16,400 shares of the semiconductor company’s stock worth $230,000 after buying an additional 450 shares in the last quarter. Robecosam AG grew its position in shares of ON Semiconductor Corporation by 198.5% during the 2nd quarter. Robecosam AG now owns 609,000 shares of the semiconductor company’s stock worth $8,660,000 after buying an additional 405,000 shares in the last quarter. Finally, Sterling Capital Management LLC increased its stake in shares of ON Semiconductor Corporation by 3.5% during the second quarter. Sterling Capital Management LLC now owns 1,673,704 shares of the semiconductor company’s stock valued at $23,499,000 after buying an additional 56,664 shares during the period. Institutional investors and hedge funds own 98.07% of the company’s stock.
ON Semiconductor Corporation (ON) traded up 0.74% during mid-day trading on Wednesday, reaching $19.05. 3,753,362 shares of the company’s stock traded hands. ON Semiconductor Corporation has a one year low of $10.74 and a one year high of $19.33. The firm has a market cap of $8.03 billion, a price-to-earnings ratio of 28.06 and a beta of 2.01. The firm’s 50-day moving average price is $17.04 and its 200 day moving average price is $15.58.
About ON Semiconductor Corporation
ON Semiconductor Corporation offers a portfolio of sensors, power management, connectivity, custom and system on chip (SoC), analog, logic, timing, and discrete devices. The Company’s segments include Power Solutions Group, Analog Solutions Group and Image Sensor Group. The Power Solutions Group offers a range of discrete, module and integrated semiconductor products.
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