Onsemi (NASDAQ:ON – Get Free Report) issued an update on its second quarter 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of 0.860-0.980 for the period, compared to the consensus earnings per share estimate of 1.010. The company issued revenue guidance of $1.7 billion-$1.8 billion, compared to the consensus revenue estimate of $1.8 billion. Onsemi also updated its Q2 guidance to $0.86-0.98 EPS.
Analyst Ratings Changes
Several equities analysts have recently weighed in on the company. The Goldman Sachs Group reduced their price target on Onsemi from $91.00 to $81.00 and set a buy rating for the company in a report on Tuesday, April 16th. Rosenblatt Securities reiterated a neutral rating and set a $75.00 price target on shares of Onsemi in a report on Tuesday, February 6th. JPMorgan Chase & Co. decreased their price objective on shares of Onsemi from $95.00 to $90.00 and set a neutral rating for the company in a report on Tuesday, February 6th. StockNews.com upgraded Onsemi from a sell rating to a hold rating in a research note on Wednesday, February 14th. Finally, Roth Mkm boosted their price target on Onsemi from $75.00 to $90.00 and gave the stock a buy rating in a research note on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $95.08.
Onsemi Stock Up 4.1 %
Onsemi (NASDAQ:ON – Get Free Report) last posted its quarterly earnings results on Monday, April 29th. The semiconductor company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04. The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.85 billion. Onsemi had a net margin of 26.46% and a return on equity of 31.36%. The company’s revenue was down 4.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.19 earnings per share. On average, equities research analysts forecast that Onsemi will post 4.26 EPS for the current year.
About Onsemi
onsemi is engaged in disruptive innovations and also a supplier of power and analog semiconductors. The firm offers vehicle electrification and safety, sustainable energy grids, industrial automation, and 5G and cloud infrastructure, with a focus on automotive and industrial end-markets. It operates through the following segments: Power Solutions Group, Advanced Solutions Group, and Intelligent Sensing Group.
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