ON Semiconductor Corp reports results for the quarter ended March 31 - Earnings Summary

• ON Semiconductor Corp ON.OQ reported quarterly adjusted earnings of 55 cents​​ per share for the quarter ended March 31, lower than the same quarter last year, when the company reported EPS of $1.08. The mean expectation of twenty eight analysts for the quarter was for earnings of 51 cents per share. Wall Street expected results to range from 49 cents to 59 cents per share.

• Revenue fell 22.4% to $1.45 billion from a year ago; analysts expected $1.40 billion.

• ON Semiconductor Corp's reported EPS for the quarter was a loss of $1.15​.

• The company reported a quarterly loss of $486.1 million.

• ON Semiconductor Corp shares had risen by 3.0% this quarter and lost 33.5% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 43.4% in the last three months.​

• In the last 30 days, one analyst negatively revised an earnings estimate

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 17 "strong buy" or "buy," 14 "hold" and 1 "sell" or "strong sell." The average consensus recommendation for the semiconductors peer group is also "buy"

• Wall Street's median 12-month price target for ON Semiconductor Corp is $55.00

This summary was machine generated from LSEG data May 5 at 01:31 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)