ON Semiconductor Corp. (NASDAQ:ON) finished Wednesday with an addition of $1.9 to close at $92.05, an upside of 2.11 percent. An average of 4,866,020 shares of common stock have been traded in the last five days. There was a fall of -$0.79 in the past week, and it reached a new high 28 times over the past 12 months. The last 20 days have seen an average of 4,442,835 shares traded, while the 50-day average volume stands at 5,391,410.
ON stock has decreased by -1.69% in the last month. The company shares reached their 1-month lowest point of $89.28 on 09/26/23. 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 47.59% or $29.68 in price. In spite of this, the price is down -17.33% from the 52-week high.
Top 5 AI Stocks to Buy for 2023
The artificial intelligence (AI) revolution is already here. And it's about to change everything we know about everything.
According to Grand View Research, the global AI boom could grow from about $137 billion in 2022 to more than $1.81 trillion by 2030. And investors like you always want to get in on the hottest stocks of tomorrow. Here are five of the best ways to profit from the AI boom.
Click Here to Download the FREE Report.
Sponsored
Insider Transactions
ON stock investors should be aware that ON Semiconductor Corp. (ON) stock had its last reported insider trading activity 16 days ago on Sep 12. In this transaction, the insider spent $97,103. Chief Accounting Officer, COLPITTS BERNARD RAYMOND JR, disposed of 2,795 shares at a price of $99.18 on Sep 11. The insider now owns more than $277,208 worth of shares. Prior to that, Director Yan Christine Y went on to Sale 3,624 shares at $92.16 each on Aug 17. An amount of $333,988 was transacted.
Valuation Metrics
ON Semiconductor Corp. (ON) has a trailing price-to-earnings (P/E) ratio of 21.10. The stock’s beta is 1.78. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 4.76, the price-to-book (PB) ratio at 5.69, and the price-to-cash flow ratio at 33.43.
Financial Health
The quick ratio of ON Semiconductor Corp. for the three months ended June 29 was 1.60, and the current ratio was 2.39, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.40 and a total debt to equity ratio of 0.54 for the quarter ending June 29. ON Semiconductor Corp.’s EBITDA margin for the year ending June 29 is 39.99%, while its operating margin for the same period stands at 32.66%. Its gross profit as reported stood at $4.08 billion compared to revenue of $8.33 billion.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, ON Semiconductor Corp.’s return on assets was 16.60%.
Earnings Surprise
For the three-month period that ended June 29, ON Semiconductor Corp. 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 Corp.’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 Corp. (ON) price momentum. RSI 9-day as of the close on 27 September was 42.10%, suggesting the stock is Neutral, with historical volatility in this time frame at 39.30%.
As of today, ON’s price is $92.28 -0.85% or -$0.79 from its 5-day moving average. ON is currently trading -5.70% lower than its 20-day SMA and +18.27% higher than its 100-day SMA. However, the stock’s current price level is -12.20% below the SMA50 and +27.56% above the SMA200.
The stochastic %K and %D were 23.14% and 22.77%, respectively, and the average true range (ATR) was 3.13. With the 14-day stochastic at 26.44% and the average true range at 3.13, the RSI (14) stands at 43.22%. The stock has reached -0.69 on the 9-day MACD Oscillator while the 14-day reading was at -2.21.
Analyst Ratings
Rosenblatt downgraded ON Semiconductor Corp. (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 Corp. (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 Corp. (ON) stock is $121.15.
