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Why ON Semiconductor Corp. (ON) is a Top Growth Stock for the Long-Term

Zacks Equity Research
·2-min read

Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.

Many investors also have a go-to methodology that helps guide their buy and sell decisions. One way to find winning stocks based on your preferred way of investing is to use the Zacks Style Scores, which are indicators that rate stocks based on three widely-followed investing types: value, growth, and momentum.

Why This 1 Growth Stock Should Be On Your Watchlist

For growth investors, a company's financial strength, overall health, and future outlook take precedence, so they'll want to zero in on the Growth Style Score. This Score examines things like projected and historical earnings, sales, and cash flow to find stocks that will generate sustainable growth over time.

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ON Semiconductor Corp. (ON)

Onsemi, is an original equipment manufacturer of a broad range of discrete and embedded semiconductor components. The company was spun off from Motorola in Aug 1999 and went public through an IPO in May 2000.

ON is a Zacks Rank #2 (Buy) stock, with a Growth Style Score of A and VGM Score of A. Earnings are expected to grow 66.4% year-over-year for the current fiscal year, with sales growth of 18.6%.

12 analysts revised their earnings estimate upwards in the last 60 days for fiscal 2022. The Zacks Consensus Estimate has increased $0.73 to $4.91 per share. ON boasts an average earnings surprise of 19.6%.

Looking at cash flow, ON Semiconductor Corp. is expected to report cash flow growth of 88.9% this year; ON has generated cash flow growth of 21.8% over the past three to five years.

Investors should take the time to consider ON for their portfolios due to its solid Zacks Rank rating, notable growth metrics, and impressive Growth and VGM Style Scores.


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