ON Semiconductor Corp. (ON) Stock Falls Amid Market Uptick: What Investors Need to Know

In the latest market close, ON Semiconductor Corp. (ON) reached $40.69, with a -0.61% movement compared to the previous day. This change lagged the S&P 500's 0.55% gain on the day. On the other hand, the Dow registered a gain of 1.01%, and the technology-centric Nasdaq decreased by 0.14%.Shares of the semiconductor components maker have depreciated by 12.99% over the course of the past month, underperforming the Computer and Technology sector's loss of 8.88% and the S&P 500's loss of 6.22%.The investment community will be closely monitoring the performance of ON Semiconductor Corp. in its forthcoming earnings report. The company is expected to report EPS of $0.51, down 52.78% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $1.41 billion, reflecting a 24.54% fall from the equivalent quarter last year.ON's full-year Zacks Consensus Estimates are calling for earnings of $2.49 per share and revenue of $6.07 billion. These results would represent year-over-year changes of -37.44% and -14.3%, respectively.Investors might also notice recent changes to analyst estimates for ON Semiconductor Corp. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 4.45% lower. At present, ON Semiconductor Corp. boasts a Zacks Rank of #5 (Strong Sell).Looking at its valuation, ON Semiconductor Corp. is holding a Forward P/E ratio of 16.47. This valuation marks a discount compared to its industry's average Forward P/E of 28.34.Investors should also note that ON has a PEG ratio of 12.86 right now. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Semiconductor - Analog and Mixed industry currently had an average PEG ratio of 1.88 as of yesterday's close.The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 195, positioning it in the bottom 23% 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.Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>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 ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks