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Surging Earnings Estimates Signal Good News for ON Semiconductor (ON)

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ON Semiconductor Corporation ON is a Semiconductor - Analog and Mixed company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on ON's earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that ON Semiconductor could be a solid choice for investors.

Current Quarter Estimates for ON

In the past 30 days, 7 estimates have gone higher for ON Semiconductor while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from earnings of 23 cents a share 30 days ago, to earnings of 26 cents, a significant move.

Current Year Estimates for ON

ON Semiconductor Corporation Price and EPS Surprise

ON Semiconductor Corporation Price and EPS Surprise | ON Semiconductor Corporation Quote

Meanwhile, ON Semiconductor's current year figures are also looking quite promising, with 11 estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from earnings of $1.15 per share 30 days ago to earnings of $1.24 cents per share today, a significant move.

Bottom Line

The stock has also started to move higher lately, adding 18.9% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #1 (Strong Buy) stock to profit in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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