FMP

FMP

Enter

ON Semiconductor Surges Over 13% After Beating Q2 Earnings and Revenue Estimates

- (Last modified: Jul 30, 2024 2:55 AM)

twitterlinkedinfacebook
blog post cover photo

Image credit: FMP

ON Semiconductor (NASDAQ:ON) saw its shares surge over 13% intra-day today following the release of its impressive Q2 earnings, which exceeded market expectations. The company reported an EPS of $0.96, beating the Street forecast of $0.92. Revenue for the quarter reached $1.74 billion, slightly higher than the anticipated $1.73 billion.

The chipmaker reported an adjusted gross margin of 45.3%, slightly below last year's 47.4% but above the projected 45.2%. The adjusted operating margin for the quarter was 27.5%, a decrease from the previous year's 32.8% but still surpassing the estimated 26.8%.

Looking ahead to Q3/24, ON Semiconductor forecasts EPS between $0.91 and $1.03, compared to the Street estimate of $0.97. Revenue is expected to be in the range of $1.7 billion to $1.8 billion, with analysts having predicted $1.779 billion.

The company also projects an adjusted gross margin between 44.4% and 46.4%, while analysts had expected 45.4%.

Other Blogs

May 14, 2024 11:41 AM - Sanzhi Kobzhan

The easiest way to calculate stock’s target price and why the target price is important.

A stock's target price, also known as its fair value, is an indication of what a share can cost based on the company’s forecasted financial statements. It is important to know a stock's fair value to find undervalued stocks with great growth potential. Let's consider how investment analysts calculat...

blog post title

May 16, 2024 8:06 PM - Gordon Thompson

Deutsche Bank Upgrades AST SpaceMobile to Buy Amid Legal Challenges

On Thursday, May 16, 2024, Deutsche Bank upgraded its rating on NASDAQ:ASTS to Buy, maintaining a hold position. At the time of the announcement, ASTS was trading at $4.03. This decision was accompanied by an increase in the price target for AST SpaceMobile, raised to $22 from $19, as detailed in a ...

blog post title

May 24, 2024 9:30 AM - Rajnish Katharotiya

How to Access and Analyze Earnings Call Transcripts

Earnings call transcripts are invaluable resources for investors, analysts, and financial enthusiasts. They provide insights into a company's performance, strategy, and future outlook, making them essential for making informed investment decisions. With Financial Modeling Prep, Earnings Call Transcr...

blog post title
FMP

FMP

Financial Modeling Prep API provides real time stock price, company financial statements, major index prices, stock historical data, forex real time rate and cryptocurrencies. Financial Modeling Prep stock price API is in real time, the company reports can be found in quarter or annual format, and goes back 30 years in history.
twitterlinkedinfacebookinstagram
2017-2024 © Financial Modeling Prep