ON Semiconductor Corp. (ON) Exceeds Market Returns: Some Facts to Consider

In the latest trading session, ON Semiconductor Corp. (ON) closed at $66.44, marking a +0.72% move from the previous day. This change outpaced the S&P 500's 0.38% gain on the day. Elsewhere, the Dow saw a downswing of 0.25%, while the tech-heavy Nasdaq appreciated by 1.24%.Heading into today, shares of the semiconductor components maker had gained 1.85% over the past month, lagging the Computer and Technology sector's gain of 3.43% and outpacing the S&P 500's gain of 1.17% in that time.Analysts and investors alike will be keeping a close eye on the performance of ON Semiconductor Corp. in its upcoming earnings disclosure. On that day, ON Semiconductor Corp. is projected to report earnings of $0.99 per share, which would represent a year-over-year decline of 20.8%. Our most recent consensus estimate is calling for quarterly revenue of $1.76 billion, down 12.73% from the year-ago period.For the annual period, the Zacks Consensus Estimates anticipate earnings of $4 per share and a revenue of $7.12 billion, signifying shifts of -22.48% and -13.7%, respectively, from the last year.Any recent changes to analyst estimates for ON Semiconductor Corp. should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.04% lower within the past month. ON Semiconductor Corp. currently has a Zacks Rank of #3 (Hold).Investors should also note ON Semiconductor Corp.'s current valuation metrics, including its Forward P/E ratio of 16.48. This signifies a discount in comparison to the average Forward P/E of 37.41 for its industry.We can additionally observe that ON currently boasts a PEG ratio of 7.07. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Semiconductor - Analog and Mixed industry had an average PEG ratio of 3.13 as trading concluded yesterday.The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 142, placing it within the bottom 44% of over 250 industries.The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.To follow ON in the coming trading sessions, be sure to utilize Zacks.com.7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.1% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report ON Semiconductor Corporation (ON): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks