ON Semiconductor Corporation (NASDAQ:ON) finished Thursday with a subtraction of -$2.92 to close at $89.96, a downside of -3.14 percent. An average of 4,986,140 shares of common stock have been traded in the last five days. There was a fall of -$0.07 in the past week, and it reached a new high 23 times over the past 12 months. The last 20 days have seen an average of 5,853,440 shares traded, while the 50-day average volume stands at 6,259,668.
ON stock has decreased by -9.36% in the last month. The company shares reached their 1-month lowest point of $88.63 on 08/18/23. With the stock rallying to its 52-week high on 07/31/23, shares of the company touched a low of $54.93 and a high of $111.35 in 52 weeks. It has reached a new high 29 times so far this year and achieved 44.24% or $27.59 in price. In spite of this, the price is down -19.21% 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 8 days ago on Aug 17. In this transaction, the insider spent $333,988. EVP & GM, PSG, KEETON SIMON, disposed of 9,923 shares at a price of $109.74 on Jul 31. The insider now owns more than $1,088,950 worth of shares. Prior to that, CEO & President El-Khoury Hassane went on to Sale 20,000 shares at $105.00 each on Jul 18. An amount of $2,100,000 was transacted.
Valuation Metrics
ON Semiconductor Corporation (ON) has a trailing price-to-earnings (P/E) ratio of 20.62. The stock’s beta is 1.79. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 4.61, the price-to-book (PB) ratio at 5.56, and the price-to-cash flow ratio at 32.97.
Financial Health
The quick ratio of ON Semiconductor Corporation for the three months ended June 29 was 1.60, and the current ratio was 2.40, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.37 and a total debt to equity ratio of 0.50 for the quarter ending June 29. ON Semiconductor Corporation’s EBITDA margin for the year ending June 29 is 39.99%, while its operating margin for the same period stands at 29.00%. Its gross profit as reported stood at $4.08 billion compared to revenue of $8.33 billion.
Earnings Surprise
For the three-month period that ended June 29, ON Semiconductor Corporation had $2.54 billion in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $576.6 million in the quarter, while revenues of $461.7 million were grew 20.95%. The analyst consensus anticipated ON Semiconductor Corporation’s latest quarter earnings to come in at $1.21 per share, but it turned out to be $1.33, a 9.90% surprise. For the quarter, EBITDA amounted to $826.4 million. Shareholders own equity worth $431.53 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at ON Semiconductor Corporation (ON) price momentum. RSI 9-day as of the close on 24 August was 33.16%, suggesting the stock is Neutral, with historical volatility in this time frame at 33.96%.
As of today, ON’s price is $91.79 -0.08% or -$0.07 from its 5-day moving average. ON is currently trading -11.90% lower than its 20-day SMA and +9.28% higher than its 100-day SMA. However, the stock’s current price level is -2.92% below the SMA50 and +42.36% above the SMA200.
The stochastic %K and %D were 19.13% and 20.80%, respectively, and the average true range (ATR) was 3.34. With the 14-day stochastic at 8.19% and the average true range at 3.33, the RSI (14) stands at 38.10%. The stock has reached -0.76 on the 9-day MACD Oscillator while the 14-day reading was at -3.18.
Analyst Ratings
Rosenblatt downgraded ON Semiconductor Corporation (NASDAQ: ON) to a a Neutral rating in its most recent analyst report. Previously, the stock was rated as a Buy. The consensus rating for ON Semiconductor Corporation (ON) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell ON, while 10 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 2 analysts, while 18 others rate it as a “buy”.
What is ON’s price target for the next 12 months?
Analysts predict a range of price targets between $100.00 and $135.00, with a median target of $122.00. Taking a look at these predictions, the average price target given by analysts for ON Semiconductor Corporation (ON) stock is $121.15.
