ON
Earnings day is here
ON Semiconductor is set to report second-quarter results after the closing bell on Monday, Aug. 3, which means the usual pre-earnings ritual is in full swing: analysts nudging estimates, traders pretending they’re very calm, and everyone squinting at guidance like it’s a magic 8-ball.
Wall Street expects the Scottsdale chipmaker to post 72 cents per share on $1.59 billion in revenue. That’s up from 53 cents a share and $1.47 billion in sales a year ago, so the bar is clearly set for growth — not just “please don’t disappoint.”
The analyst tape is moving
A handful of the so-called “most accurate” analysts have been busy revising their calls ahead of the print:
- Wells Fargo trimmed its price target to $130 from $140 while keeping an Overweight rating.
- TD Cowen cut its target to $95 from $110 and stayed at Hold.
- Susquehanna lifted its target to $150 from $140 and kept a Positive view.
- Mizuho lowered its target to $125 from $150 but stuck with Outperform.
- Cantor Fitzgerald raised its target to $110 from $100 and kept a Neutral rating.
Translation: nobody’s throwing confetti yet, but the Street is definitely recalibrating the math before ON opens the books.
Why investors should care
The stock fell 2.5% to $81.61 on Friday, so the market is already a little moody going into earnings. Add in ON’s announced plan to acquire Synaptics (SYNA), and you’ve got a setup where investors will be listening for two things: how the core business is holding up, and whether management sounds confident enough to keep the deal story moving.
Big picture: this is one of those earnings calls where the numbers matter, but the tone matters almost as much. If ON can pair solid results with upbeat guidance, the stock may finally get something besides pre-earnings jitters to cheer about.