ON Semiconductor Corporation [ON] Revenue clocked in at $5.41 billion, down -8.20% YTD: What’s Next?

ON Semiconductor Corporation [NASDAQ: ON] stock went on an upward path that rose over 0.86% on Wednesday, amounting to a one-week price increase of more than 5.27%. The company report on August 8, 2020 that ON Semiconductor Reports Second Quarter 2020 Results.

ON Semiconductor Corporation (Nasdaq: ON) today announced that 2020 second quarter revenue was $1,213.5 million, down approximately 10 percent compared to 2019 second quarter revenue. 2020 second quarter revenue was down approximately 5 percent as compared to 2020 first quarter revenue.

“Despite disruption from COVID-19 pandemic, we continue to make strong progress towards our key strategic initiatives. To achieve our gross margin target, we have accelerated the pace of manufacturing optimization. In addition, we have made outstanding progress in ramp of our 300mm manufacturing processes at East Fishkill fab with our 300mm wafer production starting in the second quarter, significantly ahead of schedule. With expected decline in COVID-19 related costs and ongoing recovery in global macroeconomic activity, we expect to see sustained improvement in our margins,” said Keith Jackson, president and CEO of ON Semiconductor. “Our design win pipeline continues to expand rapidly with multiple strategic wins for our power, analog and sensor products in automotive, industrial, and cloud-power applications.

Over the last 12 months, ON stock rose by 25.80%. The one-year ON Semiconductor Corporation stock forecast points to a potential downside of -6.98. The average equity rating for ON stock is currently 2.50, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $9.30 billion, with 410.60 million shares outstanding and 405.05 million shares in the current float. Compared to the average trading volume of 8.86M shares, ON stock reached a trading volume of 4793363 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on ON Semiconductor Corporation [ON]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ON shares is $20.92 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ON stock is a recommendation set at 2.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Craig Hallum have made an estimate for ON Semiconductor Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on August 11, 2020. While these analysts kept the previous recommendation, B. Riley FBR raised their target price from $15 to $26. The new note on the price target was released on July 22, 2020, representing the official price target for ON Semiconductor Corporation stock. Previously, the target price had yet another raise from $17 to $24, while Piper Sandler kept a Overweight rating on ON stock. On June 16, 2020, analysts increased their price target for ON shares from 12 to 14.

The Average True Range (ATR) for ON Semiconductor Corporation is set at 0.75, with the Price to Sales ratio for ON stock in the period of the last 12 months amounting to 1.72. The Price to Book ratio for the last quarter was 2.86, with the Price to Cash per share for the same quarter was set at 4.77. Price to Free Cash Flow for ON in the course of the last twelve months was 43.76 with Quick ratio for the last quarter at 1.60.

ON Stock Performance Analysis:

ON Semiconductor Corporation [ON] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.27. With this latest performance, ON shares gained by 8.17% in over the last four-week period, additionally plugging by 4.65% over the last 6 months – not to mention a rise of 25.80% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ON stock in for the last two-week period is set at 62.59, with the RSI for the last a single of trading hit 66.26, and the three-weeks RSI is set at 61.05 for ON Semiconductor Corporation [ON]. The present Moving Average for the last 50 days of trading for this stock 20.35, while it was recorded at 21.69 for the last single week of trading, and 19.32 for the last 200 days.

Insight into ON Semiconductor Corporation Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and ON Semiconductor Corporation [ON] shares currently have an operating margin of +11.67 and a Gross Margin at +33.68. ON Semiconductor Corporation’s Net Margin is presently recorded at +3.84.

Return on Total Capital for ON is now 9.90, given the latest momentum, and Return on Invested Capital for the company is 3.51. Return on Equity for this stock inclined to 6.54, with Return on Assets sitting at 2.64. When it comes to the capital structure of this company, ON Semiconductor Corporation [ON] has a Total Debt to Total Equity ratio set at 112.87. Additionally, ON Total Debt to Total Capital is recorded at 53.02, with Total Debt to Total Assets ending up at 44.23. Long-Term Debt to Equity for the company is recorded at 89.78, with the Long-Term Debt to Total Capital now at 42.18.

Reflecting on the efficiency of the workforce at the company, ON Semiconductor Corporation [ON] managed to generate an average of $6,083 per employee. Receivables Turnover for the company is 7.93 with a Total Asset Turnover recorded at a value of 0.69.ON Semiconductor Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.60 and a Current Ratio set at 2.30.

ON Stock EPS

With the latest financial reports released by the company, ON Semiconductor Corporation posted 0.33/share EPS, while the average EPS was predicted by analysts to be reported at 0.36/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -8.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ON. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for ON Semiconductor Corporation go to 12.26%.

ON Semiconductor Corporation [ON] Insider Position Details

There are presently around $8,997 million, in the hands of institutional investors. The top three institutional holders of ON stocks are: VANGUARD GROUP INC with ownership of 39,362,862, which is approximately 1.195% of the company’s market cap and around 1.60% of the total institutional ownership; FMR LLC, holding 32,975,402 shares of the stock with an approximate value of $737.99 million in ON stocks shares; and JANUS HENDERSON GROUP PLC, currently with $703.04 million in ON stock with ownership of nearly -24.008% of the company’s market capitalization.

Positions in ON Semiconductor Corporation stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 172 institutional holders increased their position in ON Semiconductor Corporation [NASDAQ:ON] by around 57,068,321 shares. Additionally, 232 investors decreased positions by around 73,392,516 shares, while 54 investors held positions by with 271,539,988 shares. The mentioned changes placed institutional holdings at 402,000,825 shares, according to the latest SEC report filing. ON stock had 49 new institutional investments in for a total of 17,759,130 shares, while 66 institutional investors sold positions of 19,924,079 shares during the same period.

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