ON Semiconductor: analysts adjust price targets ahead of Q3 earnings
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ON Semiconductor Corporation is set to release its third-quarter earnings on Monday, October 28, with Wall Street’s top analysts closely watching the results. Expectations for the Scottsdale-based company suggest a dip in earnings per share (EPS) to $0.97, down from $1.39 a year ago, and revenue is forecasted at $1.75 billion, a drop from $2.18 billion in the same period last year. Despite these lower estimates, analysts are still optimistic about ON Semiconductor’s long-term potential, adjusting their price targets accordingly.
ON Semiconductor: Analysts Adjust Price Targets Ahead of Q3 Earnings Report
Analyst Ratings and Target Adjustments
Top analysts have shown varied responses to ON Semiconductor’s outlook, with some revising targets while maintaining positive ratings: KeyBanc’s John Vinh has an Overweight rating, though he recently reduced his target from $95 to $90.
Vivek Arya of B of A Securities increased his target to $90 with a Buy rating, reflecting an 82% accuracy rate.
Ross Seymore at Deutsche Bank also maintained a Buy rating, lifting the target to $90.
Kevin Cassidy from Rosenblatt kept a Neutral stance, nudging his target to $75.
Truist Securities’ William Stein expressed confidence with a Buy rating, raising the price target from $85 to $97, a bullish move backed by an 86% accuracy rate.
Key Takeaways for Investors
ON Semiconductor has shown resilience, closing at $71.25 last Friday, up 1.7%. With analysts maintaining a generally favorable view, investors are keen to see if ON can deliver another surprise as it did in Q2. The adjusted targets by these top analysts underscore the potential value in ON’s stock, despite short-term challenges. As the market anticipates Monday’s report, ON’s performance could set the tone for the rest of the year in the semiconductor sector.
ON Semiconductor: Analysts Adjust Price Targets Ahead of Q3 Earnings Report
Analyst Ratings and Target Adjustments
Top analysts have shown varied responses to ON Semiconductor’s outlook, with some revising targets while maintaining positive ratings: KeyBanc’s John Vinh has an Overweight rating, though he recently reduced his target from $95 to $90.
Vivek Arya of B of A Securities increased his target to $90 with a Buy rating, reflecting an 82% accuracy rate.
Ross Seymore at Deutsche Bank also maintained a Buy rating, lifting the target to $90.
Kevin Cassidy from Rosenblatt kept a Neutral stance, nudging his target to $75.
Truist Securities’ William Stein expressed confidence with a Buy rating, raising the price target from $85 to $97, a bullish move backed by an 86% accuracy rate.
Key Takeaways for Investors
ON Semiconductor has shown resilience, closing at $71.25 last Friday, up 1.7%. With analysts maintaining a generally favorable view, investors are keen to see if ON can deliver another surprise as it did in Q2. The adjusted targets by these top analysts underscore the potential value in ON’s stock, despite short-term challenges. As the market anticipates Monday’s report, ON’s performance could set the tone for the rest of the year in the semiconductor sector.