These Analysts Slash Their Forecasts On ON Semiconductor After Downbeat Results

ON Semiconductor Corp ON posted downbeat quarterly results on Monday.

The company reported a fiscal fourth-quarter 2024 revenue decline of 15% year-on-year to $1.72 billion, missing the analyst consensus estimate of $1.76 billion. The adjusted EPS of 95 cents missed the analyst consensus estimate of 97 cents.

“As we continue to navigate this market downturn, our actions over the last four years have proven we are a structurally different company that is well-equipped to navigate prolonged volatility,” said Hassane El-Khoury, president and CEO, onsemi. “While 2025 remains uncertain, we remain committed to our long-term strategy. We will maintain our financial discipline, streamline our operations and continue to deliver high-value, differentiated intelligent power and sensing solutions that position onsemi to emerge even stronger.”

ON Semiconductor expects first-quarter adjusted revenue of $1.35 billion—$1.45 billion, below the consensus of $1.69 billion. The company expects adjusted EPS of $0.45–$0.55 below the consensus of $0.89 and an adjusted gross margin of 39.0%-41.0%.

ON Semiconductor shares fell 8.2% to close at $47.04 on Monday.

These analysts made changes to their price targets on ON Semiconductor following earnings announcement.

• Citigroup analyst Christopher Danely maintained ON Semiconductor with a Neutral and lowered the price target from $77 to $52.
• Morgan Stanley analyst Joseph Moore maintained the stock with an Underweight and lowered the price target from $52 to $44.
• JP Morgan analyst Harlan Sur maintained ON Semiconductor with a Neutral and lowered the price target from $88 to $60.
• Mizuho analyst Vijay Rakesh maintained the stock with an Outperform and lowered the price target from $85 to $71.
• Needham analyst Quinn Bolton maintained ON Semiconductor with a Buy and cut the price target from $66 to $57.
• Rosenblatt analyst Kevin Cassidy maintained the stock with a Neutral and slashed the price target from $75 to $49.

Considering buying ON stock? Here’s what analysts think:

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