ON Semiconductor Corporation (ON) Price Targets: What Do They Mean?

As of Thursday close, ON Semiconductor Corporation’s (NASDAQ:ON) stock was down -$0.54, moving down -1.06 percent to $50.47. The average number of shares traded per day over the past five days has been 27,937,840 shares. 1 time new highs have been achieved over the past 5 days, with a -$7.57 fall in that time frame. In the last twenty days, the average volume was 13,461,510, while in the previous 50 days, it was 8,986,702.

Since last month, ON stock retreated -9.70%. Shares of the company fell to $49.80 on 06/22/22, the lowest level in the past month. A 52-week high of $71.25 was reached on 01/04/22 after having rallying from a 52-week low of $34.01. Since the beginning of this year, ON’s stock price has dropped by -25.69% or -$17.45, and marked a new high 2 times. However, the stock has declined by -29.17% since its 52-week high.

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ON Semiconductor Corporation (ON) last reported insider trading activity 45 days ago on May 10. HOPKIN VINCE CRAIG, the EVP & GM, ASG of the company, disposed of 6,296 shares for $52.10 on May 10. It resulted in a $328,022 divestment by the insider. HOPKIN VINCE CRAIG sold 5,000 shares at an average price of $55.70 on May 03. The insider now owns 175,369 shares following the transaction. On May 02, EVP & GM, PSG KEETON SIMON sold 82 shares at $53.50 apiece. The transaction was valued at $4,387.

Valuation Metrics

Right now, ON Semiconductor Corporation (ON) has a P/E ratio of about 15.51. The stock’s beta is 1.67. Besides these, the trailing price-to-sales (P/S) ratio of 3.10, the price-to-book (PB) ratio of 4.37, and the price-to-cash flow ratio of 14.89 may also be considered.

Financial Health

In the three months ended March 30, ON Semiconductor Corporation’s quick ratio stood at 1.80, while its current ratio was 2.80, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending March 30 was 0.61, and the total debt-to-equity ratio was 0.65. On the profitability front, the trailing twelve-month gross margin is 43.80% percent. In the year ended March 30, operating margins totaled 24.90%. Based on annual data, ON earned $2.71 billion in gross profit and brought in $6.74 billion in revenue.

A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 14.60%. Return on equity (ROE) for the past 12 months was 33.20%.

In ON Semiconductor Corporation’s quarter-end financial report for March 30, it reported total debt of $3.04 billion. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. ON’s revenue rose 25.64% to $2.27 billion during the quarter, while net income inched up to $1.95 billion. While analysts expected ON Semiconductor Corporation to report $1.05 quarterly earnings, the actual figure was $1.22 per share, beating the consensus estimate by 16.20%. During the quarter, the company generated $791.0 million in EBITDA. The liabilities of ON Semiconductor Corporation were 5.19 billion at the end of its most recent quarter ended March 30, and its total debt was $3.4 billion. The value of shareholders’ equity is $434.51 million.

Technical Picture

This quick technical analysis looks at ON Semiconductor Corporation’s (ON) price momentum. With a historical volatility rate of 48.39%, the RSI 9-day stood at 28.41% on 23 June.

With respect to its five-day moving average, the current ON Semiconductor Corporation price is down by -13.04% percent or -$7.57. At present, ON shares trade -7.39% below its 20-day simple moving average and -6.12% percent below its 100-day simple moving average. However, the stock is currently trading approximately -3.55% below its SMA50 and +10.53% above its SMA200.

Stochastic coefficient K was 5.78% and Stochastic coefficient D was 7.37%, while ATR was 2.83. Given the Stochastic reading of 3.85% for the 14-day period, the RSI (14) reading has been calculated as 36.01%. As of today, the MACD Oscillator reading stands at -3.33, while the 14-day reading stands at -6.80.

Analyst Ratings

Wells Fargo upgraded its rating on ON Semiconductor Corporation (NASDAQ: ON) to an Overweight in a note to investors on May 12, 2022. The analysts firm previously had an Equal weight rating on the stock.ON Semiconductor Corporation (ON) has been rated Overweight by analysts. According to 0 brokerage firms, ON is a sell, and 7 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 4 analysts rate ON Semiconductor Corporation stock as buy, with 18 recommending it as overweight.

With a median target price of $73.50, the current consensus forecast for the stock is $56.00 – $80.00. Based on these forecasts, analysts predict ON Semiconductor Corporation (ON) will achieve an average price target of $72.50.


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