5 Key Quarterly Reports to Watch

4. ON Semiconductor Corporation (NASDAQ:ON)

Number of Hedge Fund Holders: 47

Shares of ON Semiconductor Corporation (NASDAQ:ON) jumped nearly seven percent on Monday, May 2, 2022, after delivering solid profit and sales for the first quarter. The semiconductor supplier earned $1.22 per share on an adjusted basis, significantly higher than 35 cents per share in the year-ago period.

Revenue for the quarter climbed 31 percent on a year-over-year basis to $1.95 billion. Analysts were expecting ON Semiconductor Corporation (NASDAQ:ON) to report earnings of $1.05 per share on revenue of $1.90 billion.

If we look at the performance of its flagship businesses, revenue from the power solutions group soared 32 percent to $986.7 million, the advanced solutions group’s revenue increased 30 percent to $689.3 million, and the intelligent sensing group’s revenue rose 32 percent to $269 million in the quarter.

Looking forward, ON Semiconductor Corporation (NASDAQ:ON) expects adjusted earnings in the range of $1.20 – $1.32 per share and revenue between $1.965 – $2.065 billion for the second quarter. The outlook is better than the consensus of $1.05 per share for earnings and $1.920 billion for revenue.