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

ON Semiconductor Corp. (ON) closed the most recent trading day at $55.61, moving +1.79% from the previous trading session. The stock's performance was ahead of the S&P 500's daily gain of 0.88%. On the other hand, the Dow registered a gain of 1.24%, and the technology-centric Nasdaq increased by 0.65%.Heading into today, shares of the semiconductor components maker had lost 18.01% over the past month, lagging the Computer and Technology sector's gain of 0.37% and the S&P 500's gain of 1.17% in that time.Investors will be eagerly watching for the performance of ON Semiconductor Corp. in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $0.98, reflecting a 21.6% decrease from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $1.76 billion, indicating a 12.87% decline compared to the corresponding quarter of the prior year.Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for ON Semiconductor Corp. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has moved 5.86% lower. At present, ON Semiconductor Corp. boasts a Zacks Rank of #5 (Strong Sell).Investors should also note ON Semiconductor Corp.'s current valuation metrics, including its Forward P/E ratio of 13.01. Its industry sports an average Forward P/E of 37.1, so one might conclude that ON Semiconductor Corp. is trading at a discount comparatively.Also, we should mention that ON has a PEG ratio of 10.16. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Semiconductor - Analog and Mixed industry held an average PEG ratio of 2.65.The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 210, finds itself in the bottom 17% echelons of all 250+ industries.The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.You can find more information on all of these metrics, and much more, on 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