The stock of ON Semiconductor Corporation (NASDAQ:ON) increased by $2.55 on Monday to finish at $97.12, up 2.70 percent. The last five days have seen an average of 4,898,500 shares of common stock traded. 29 times new highs were reached in the current year, with a gain of $34.75. The average number of shares traded over the last 20 days was 6,493,645, while the average volume over the last 50 days totaled 6,355,288.
ON stock dropped -2.57% since last month. On 08/14/23, the company’s shares reached a one-month low of $93.57. The stock touched a high of $111.35 on 07/31/23, after rallying from a low of $54.93 in 52 weeks. The price of ON stock has risen by 55.72% or $34.75 this year, reaching a new high 29 times. Still, the stock price is down -12.78% from the 52-week high.
Insider Transactions
ON stock investors should be aware that ON Semiconductor Corporation (ON) stock had its last reported insider trading activity 15 days ago on Jul 31. On Jul 31, EVP & GM, PSG KEETON SIMON sold 9,923 shares at $109.74 each. This transaction resulted in the insider making $1,088,950. On Jul 18, El-Khoury Hassane sold 20,000 shares at a price of US$105.00. After the transaction, the insider now owns 531,388 shares. EVP & GM, PSG KEETON SIMON had earlier sold 10,276 shares on Jul 13 for $100.00 a share. The transaction was completed for $1,027,641.
Valuation Metrics
ON Semiconductor Corporation (ON) has a trailing price-to-earnings (P/E) ratio of 22.26. Beta for the stock is 1.78. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 5.19, the price-to-book (PB) ratio of 6.00, and the price-to-cash flow ratio of 37.07.
Financial Health
For the three months ended June 29, ON Semiconductor Corporation’s quick ratio was 1.60, while its current ratio was 2.40, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.37, and the total debt to equity ratio is 0.50. As far as profitability goes, gross margin for the trailing twelve months is 47.80% percent. ON Semiconductor Corporation’s EBITDA margin for the year ended June 29 was 39.99%, whereas its operating margin stood at 29.00% for the same period. Based on annual data, it had gross profit of $4.08 billion and revenue of $8.33 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. ON’s return on assets (ROA) during the last 12 months has been 16.20%. There was a 20.80% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 30.90%.
Earnings Surprise
According to ON Semiconductor Corporation’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $2.09 billion, while revenues rose by 0.45% to $1.96 billion. It was predicted that ON Semiconductor Corporation’s quarterly earnings would be $1.33, but it ended up being $1.21, beating the consensus by 9.90%. EBITDA was $826.4 million for the quarter. At the end of ON Semiconductor Corporation’s most recent quarter ended June 29, its liabilities totaled 5.76 billion, while its total debt was $3.75 billion. Equity owned by shareholders amounts to $431.53 million.
Technical Picture
Here’s a quick look at ON Semiconductor Corporation’s (ON) price momentum from a technical perspective. As of 14 August, the RSI 9-day stood at 41.54%, suggesting the stock is Neutral, with a 30.95% historical volatility rate.
The stochastic %K and %D were 11.16% and 15.11% respectively, while the average true range (ATR) was 3.51. Based on the 14-day stochastic reading of 19.98%, the RSI (14) reading is 46.26%. On the 9-day MACD Oscillator, the stock is at -3.76, and the 14-day reading is at -5.27.
Analyst Ratings
ON Semiconductor Corporation (NASDAQ: ON) was downgraded by Rosenblatt to a a Neutral rating in its latest research report. The stock was previously rated as a a Buy. Analysts have assigned ON Semiconductor Corporation (ON) an Overweight rating. ON is a stock that is recommended for selling by 0 brokerage firms, while 12 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 2 rates it overweight and 17 others recommend it as a buy.
What is ON’s price target for the next 12 months?
The current consensus forecast for the stock is between $91.00 and $135.00, with a median target price of $122.00. In analyzing these forecasts, the average price target given by analysts for ON Semiconductor Corporation (ON) is $120.00.
