The ON Semiconductor Corporation (ON) Expected to Announce Quarterly Sales of $1.31 Billion

The ON Semiconductor Corporation (ON) Expected to Announce Quarterly Sales of $1.31 Billion

According to Zacks, analysts expect that ON Semiconductor Corporation will report full year sales of $1.31 billion for the current fiscal year, with estimates ranging from $5.23 billion to $5.46 billion. For the next fiscal year, analysts forecast that the firm will report sales of $5.39 billion per share, with estimates ranging from $5.33 billion to $5.52 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that cover ON Semiconductor Corporation.

Equities analysts forecast that ON Semiconductor Corporation (NASDAQ:ON) will announce $1.31 billion in sales for the current quarter, according to Zacks Investment Research. Seven analysts have provided estimates for ON Semiconductor Corporation’s earnings. ON Semiconductor Corporation reported sales of $877.80 million in the same quarter last year, which suggests a positive year over year growth rate of 49.2%. The firm is scheduled to announce its next quarterly earnings results before the market opens on Monday, August 7th.

Several equities research analysts recently issued reports on the company. MKM Partners reissued a “buy” rating and set a $20.00 price target on shares of ON Semiconductor Corporation in a research report on Friday, April 7th. Credit Suisse Group lowered ON Semiconductor Corporation from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $17.50 to $13.50 in a research report on Tuesday, April 11th. Vetr raised ON Semiconductor Corporation from a “sell” rating to a “strong-buy” rating and set a $16.85 price target on the stock in a research report on Tuesday, April 11th. B. Riley reissued a “buy” rating and set a $18.00 price target on shares of ON Semiconductor Corporation in a research report on Monday, May 8th. Finally, Stifel Nicolaus upped their price target on ON Semiconductor Corporation from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, May 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $16.40.

ON Semiconductor Corporation (NASDAQ ON) traded down 3.31% during mid-day trading on Thursday, reaching $15.20. 6,908,113 shares of the company’s stock were exchanged. ON Semiconductor Corporation has a 52 week low of $9.38 and a 52 week high of $16.93. The company’s 50 day moving average price is $15.16 and its 200-day moving average price is $14.76. The company has a market capitalization of $6.40 billion, a P/E ratio of 29.23 and a beta of 1.96.

In other news, Director Gilles Delfassy sold 4,500 shares of the stock in a transaction on Friday, June 9th. The stock was sold at an average price of $16.87, for a total value of $75,915.00. Following the completion of the transaction, the director now owns 33,044 shares of the company’s stock, valued at $557,452.28. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Daryl Ostrander sold 17,726 shares of the stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $16.18, for a total value of $286,806.68. Following the completion of the transaction, the director now directly owns 67,458 shares of the company’s stock, valued at approximately $1,091,470.44. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 134,690 shares of company stock valued at $2,094,440. 1.60% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Amalgamated Bank boosted its position in shares of ON Semiconductor Corporation by 0.7% in the first quarter. Amalgamated Bank now owns 59,332 shares of the semiconductor company’s stock valued at $919,000 after buying an additional 393 shares in the last quarter. ProShare Advisors LLC boosted its position in shares of ON Semiconductor Corporation by 1.7% in the first quarter. ProShare Advisors LLC now owns 25,741 shares of the semiconductor company’s stock valued at $399,000 after buying an additional 440 shares in the last quarter. World Asset Management Inc boosted its position in shares of ON Semiconductor Corporation by 5.3% in the first quarter. World Asset Management Inc now owns 15,414 shares of the semiconductor company’s stock valued at $239,000 after buying an additional 775 shares in the last quarter. Baker Avenue Asset Management LP boosted its position in shares of ON Semiconductor Corporation by 1.7% in the first quarter. Baker Avenue Asset Management LP now owns 71,405 shares of the semiconductor company’s stock valued at $1,106,000 after buying an additional 1,165 shares in the last quarter. Finally, Waverton Investment Management Ltd boosted its position in shares of ON Semiconductor Corporation by 3.8% in the second quarter. Waverton Investment Management Ltd now owns 34,187 shares of the semiconductor company’s stock valued at $480,000 after buying an additional 1,253 shares in the last quarter. 96.46% of the stock is owned by institutional investors.

ON Semiconductor Corporation Company Profile

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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