The 10-second takeaway
For the quarter ended Dec. 31 (Q4), ON Semiconductor beat slightly on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped and GAAP loss per share expanded.
Gross margins grew, operating margins grew, net margins dropped.
ON Semiconductor logged revenue of $680.2 million. The 20 analysts polled by S&P Capital IQ expected a top line of $671.5 million on the same basis. GAAP reported sales were 11% lower than the prior-year quarter's $767.9 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.08. The 20 earnings estimates compiled by S&P Capital IQ forecast $0.07 per share. GAAP EPS were -$0.31 for Q4 versus -$0.09 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 30.9%, 950 basis points better than the prior-year quarter. Operating margin was 3.8%, 390 basis points better than the prior-year quarter. Net margin was -20.3%, 1,480 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $664.6 million. On the bottom line, the average EPS estimate is $0.07.
Next year's average estimate for revenue is $2.86 billion. The average EPS estimate is $0.52.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 476 members out of 492 rating the stock outperform, and 16 members rating it underperform. Among 79 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 76 give ON Semiconductor a green thumbs-up, and three give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on ON Semiconductor is outperform, with an average price target of $8.00.
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