ON Semiconductor Corporation (NASDAQ:ON) saw a downside of -2.13% to close Tuesday at $101.38 after subtracting -$2.21 on the day. The 5-day average trading volume is 5,546,420 shares of the company’s common stock. It has gained $107.16 in the past week and touched a new high 1 time within the past 5 days. An average of 6,633,250 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 6,676,572.
ON’s 1-month performance is 5.63% or $8.08 on its low of $93.55 reached on 07/10/23. The company’s shares have touched a 52-week low of $54.93 and high of $111.35, with the stock’s rally to the 52-week high happening on 07/31/23. YTD, ON has achieved 62.55% or $39.01 and has reached a new high 29 times. However, the current price is down -8.95% from the 52-week high price.
Insider Transactions
ON stock investors last saw insider trading activity on Jul 31.KEETON SIMON (EVP & GM, PSG) most recently sold 9,923 shares at $109.74 per share on Jul 31. This transaction cost the insider $1,088,950. CEO & President, El-Khoury Hassane, sold 20,000 shares at a price of $105.00 on Jul 18. Then, on Jul 13, EVP & GM, PSG KEETON SIMON sold 10,276 shares at a price of $100.00 per share. This transaction amounted to $1,027,641.
Valuation Metrics
ON stock has a beta of 1.77. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 5.26 while the price-to-book (PB) in the most recent quarter is 6.27, with the price to cash flow ratio at 37.59.
ON Semiconductor Corporation’s quick ratio for the period ended June 29 was 1.60, with the current ratio over the same period at 2.40. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.37, while the total debt to equity was 0.50.. In terms of profitability, the gross margin trailing 12 months is 47.80%. The trailing 12-month EBITDA margin is 39.99% while for the period ending June 29, ON Semiconductor Corporation’s operating margin was 29.00%. The firm’s gross profit as reported stood at $4.08 billion against revenue of $8.33 billion.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 20.95% to $576.6 million, while revenue of $461.7 million was 19.93% off the previous quarter. Analysts expected ON to announce $1.21 per share in earnings in its latest quarter, but it posted $1.33, representing a 9.90% surprise. EBITDA for the quarter stood at more than $826.4 million. ON stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 5.76 billion, with total debt at $3.75 billion. Shareholders hold equity totaling $431.53 million.
Let’s look briefly at ON Semiconductor Corporation (ON) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 08 August was 48.86% to suggest the stock is trending Neutral, with historical volatility in this time period at 36.41%.
The stock’s 5-day moving average is $102.71, reflecting a -6.21% or -$6.71 change from its current price. ON is currently trading +4.90% above its 20-day SMA, +29.97% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +23.63% and SMA200 by+66.83%.
Stochastic %K and %D was 42.32% and 44.20% and the average true range (ATR) pointed at 3.53. The RSI (14) points at 53.08%, while the 14-day stochastic is at 35.55% with the period’s ATR at 3.44. The stock’s 9-day MACD Oscillator is pointing at -1.64 and 0.31 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for ON Semiconductor Corporation (NASDAQ: ON), Rosenblatt downgraded it to a Neutral rating. They previously had a Buy rating on the stock. Analysts offering their rating for ON stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate ON as a “sell,”, while 12 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 2 rates the stock as overweight while 17 have offered a “buy” rating.
What is ON’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $91.00 and a high of $135.00, with their median price target at $122.00. Looking at these predictions, the average price target given by analysts is for ON Semiconductor Corporation (ON) stock is $120.00.
