The latest trading session saw ON Semiconductor Corp. (ON) ending at $39.60, denoting a -0.25% adjustment from its last day's close. The stock's change was less than the S&P 500's daily gain of 0.63%. On the other hand, the Dow registered a gain of 0.21%, and the technology-centric Nasdaq increased by 1.52%.

The the stock of semiconductor components maker has fallen by 2.6% in the past month, lagging the Computer and Technology sector's gain of 1.66% and the S&P 500's loss of 0.7%.

Analysts and investors alike will be keeping a close eye on the performance of ON Semiconductor Corp. in its upcoming earnings disclosure. The company's earnings report is set to go public on May 5, 2025. In that report, analysts expect ON Semiconductor Corp. to post earnings of $0.51 per share. This would mark a year-over-year decline of 52.78%. At the same time, our most recent consensus estimate is projecting a revenue of $1.41 billion, reflecting a 24.56% fall from the equivalent quarter last year.

Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $2.47 per share and revenue of $5.9 billion. These totals would mark changes of -37.94% and -16.68%, respectively, from last year.

It is also important to note the recent changes to analyst estimates for ON Semiconductor Corp. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been a 0.6% fall in the Zacks Consensus EPS estimate. At present, ON Semiconductor Corp. boasts a Zacks Rank of #5 (Strong Sell).

In terms of valuation, ON Semiconductor Corp. is currently trading at a Forward P/E ratio of 16.06. This represents a discount compared to its industry's average Forward P/E of 30.23.

It's also important to note that ON currently trades at a PEG ratio of 12.55. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Semiconductor - Analog and Mixed industry had an average PEG ratio of 1.86 as trading concluded yesterday.

The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 92, finds itself in the top 38% echelons of all 250+ industries.

The Zacks Industry Rank gauges the strength of our 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.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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This article originally published on Zacks Investment Research (zacks.com).

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