Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.
Trade-Ideas LLC identified
) as a post-market leader candidate. In addition to specific proprietary factors, Trade-Ideas identified ON Semiconductor as such a stock due to the following factors:
- ONNN has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $60.1 million.
- ONNN is up 3% today from today's close.
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More details on ONNN:
ON Semiconductor Corporation designs, manufactures, and markets semiconductor components for electronic systems and products worldwide. It operates in three segments: Application Products Group, Standard Products Group, and System Solutions Group. ONNN has a PE ratio of 16.3. Currently there are 10 analysts that rate ON Semiconductor a buy, 1 analyst rates it a sell, and 3 rate it a hold.
The average volume for ON Semiconductor has been 7.0 million shares per day over the past 30 days. ON Semiconductor has a market cap of $3.6 billion and is part of the technology sector and electronics industry. The stock has a beta of 1.48 and a short float of 2% with 1.23 days to cover. Shares are down 1.1% year-to-date as of the close of trading on Wednesday.
rates ON Semiconductor as a
. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, compelling growth in net income, revenue growth and attractive valuation levels. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook.
Highlights from the ratings report include:
- Compared to where it was a year ago today, the stock is now trading at a higher level, reflecting both the market's overall trend during that period and the fact that the company's earnings growth has been robust. Turning our attention to the future direction of the stock, it goes without saying that even the best stocks can fall in an overall down market. However, in any other environment, this stock still has good upside potential despite the fact that it has already risen in the past year.
- ON SEMICONDUCTOR CORP reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. We feel that this trend should continue. During the past fiscal year, ON SEMICONDUCTOR CORP turned its bottom line around by earning $0.33 versus -$0.20 in the prior year. This year, the market expects an improvement in earnings ($0.80 versus $0.33).
- The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Semiconductors & Semiconductor Equipment industry. The net income increased by 84.5% when compared to the same quarter one year prior, rising from $47.70 million to $88.00 million.
- Despite its growing revenue, the company underperformed as compared with the industry average of 17.7%. Since the same quarter one year prior, revenues rose by 10.1%. This growth in revenue appears to have trickled down to the company's bottom line, improving the earnings per share.
- You can view the full ON Semiconductor Ratings Report.