ON Semiconductor Corp. (ON) Stock Price Falls 1.94% Amid Market Decline

ON Semiconductor Corp. (ON) closed at $59.29, down 1.94% from the previous day. The stock has lost 14.44% over the past month, trailing the Computer and Technology sector's loss of 2.12% and the S&P 500's loss of 3.59%. The company is expected to report Q1 earnings of $0.62 per share, up 12.73% YoY, and revenue of $1.49 billion, up 2.9% YoY. The Zacks Consensus Estimates predict FY22 earnings of $2.92 per share, up 24.26% YoY, and revenue of $6.28 billion, up 4.81% YoY. ON has a Zacks Rank of #3 (Hold) and trades at a Forward P/E ratio of 20.72, a discount to the industry's average of 34.23.