Analog chips maker ON Semiconductor (NASDAQ: ON) will be reporting results tomorrow morning. Here’s what to look for.

ON Semiconductor met analysts’ revenue expectations last quarter, reporting revenues of $1.74 billion, down 17.2% year on year. It was a slower quarter for the company, with underwhelming revenue guidance for the next quarter and an increase in its inventory levels.

Is ON Semiconductor a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting ON Semiconductor’s revenue to decline 19.6% year on year to $1.75 billion, a deceleration from its flat revenue in the same quarter last year. Adjusted earnings are expected to come in at $0.97 per share.

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. ON Semiconductor has a history of exceeding Wall Street’s expectations, beating revenue estimates every single time over the past two years by 1.6% on average.

Looking at ON Semiconductor’s peers in the semiconductors segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Impinj delivered year-on-year revenue growth of 46.4%, beating analysts’ expectations by 2.5%, and Texas Instruments reported a revenue decline of 8.4%, in line with consensus estimates. Impinj traded down 13.1% following the results while Texas Instruments was up 4%.

Read our full analysis of Impinj’s results here and Texas Instruments’s results here.

Investors in the semiconductors segment have had fairly steady hands going into earnings, with share prices down 1.4% on average over the last month. ON Semiconductor is down 1.6% during the same time and is heading into earnings with an average analyst price target of $85.75 (compared to the current share price of $71.44).

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