ON Semiconductor Corp. (NASDAQ:ON) shares, rose in value, with the stock price up by 0.32% to the previous day’s close as strong demand from buyers drove the stock to $69.32.
Actively observing the price movement in the last trading, the stock closed the session at $69.10. The value of beta (5-year monthly) was 1.79 whereas the PE ratio was 14.18 over 12-month period. Referring to stock’s 52-week performance, its high was $111.35, and the low was $61.47. On the whole, ON has fluctuated by -10.69% over the past month.
With the market capitalization of ON Semiconductor Corp. currently standing at about $29.62 billion, investors are eagerly awaiting this quarter’s results, scheduled for Apr 29, 2024 – May 03, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $1.05, which is expected to increase to $1.13 for fiscal year $4.28 and then to about $5.15 by fiscal year 2025. Data indicates that the EPS growth is expected to be -17.10% in 2025, while the next year’s EPS growth is forecast to be 20.30%.
Analysts have estimated the company’s revenue for the quarter at $1.85 billion, with a low estimate of $1.8 billion and a high estimate of $1.92 billion. According to the average forecast, sales growth in current quarter could jump down -3.70%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $7.52 billion, representing a decrease of -8.90% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that ON’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 50% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 3.08, with the price of ON currently trading nearly -8.29% and -9.20% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 36.51, while the 7-day volatility ratio is showing 2.97% which for the 30-day chart, stands at 3.60%. Furthermore, ON Semiconductor Corp. (ON)’s beta value is 1.80, and its average true range (ATR) is 2.64.
A comparison of ON Semiconductor Corp. (ON) with its peers suggests the former has fared considerably weaker in the market. ON showed an intraday change of 0.32% in last session, and over the past year, it shrunk by -11.68%%.
Data on historical trading for ON Semiconductor Corp. (NASDAQ:ON) indicates that the trading volumes over the past 10 days have averaged 5.9 million and over the past 3 months, they’ve averaged 7.40 million. According to company’s latest data on outstanding shares, there are 426.39 million shares outstanding.
Nearly 0.71% of ON Semiconductor Corp.’s shares belong to company insiders and institutional investors own 99.60% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 20.65 million shares as on Mar 15, 2024, resulting in a short ratio of 3.21. According to the data, the short interest in ON Semiconductor Corp. (ON) stood at 4.83% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 19.87 million. The stock has fallen by -17.01% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the ON stock heading into the next quarter.
