Summit Insights lifts ON Semiconductor Corporation [ON] price estimate. Who else is bullish?

ON Semiconductor Corporation [NASDAQ: ON] closed the trading session at $72.53 on 08/19/22. The day’s price range saw the stock hit a low of $71.3472, while the highest price level was $73.49. The company report on August 11, 2022 that onsemi Celebrates Expansion of Silicon Carbide Production Facility in New Hampshire.

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The facility will increase its Silicon Carbide (SiC) capacity by five times year-over-year, helping to ensure supply of critical components for onsemi customers.

onsemi (Nasdaq: ON), a leader in intelligent power and sensing technologies, today celebrated the inauguration of its silicon carbide (SiC) facility in Hudson, New Hampshire with a ribbon cutting ceremony. Signifying the importance of this event and manufacturing of semiconductors in the U.S. were the attendance of multiple guests of honor led by U.S. Secretary of Commerce Gina Raimondo. Also present were U.S. Senators Jeanne Shaheen and Maggie Hassan from New Hampshire, Representative Chris Pappas from the 1st congressional district of New Hampshire and Representative Annie Kuster from the 2nd congressional district of New Hampshire as well as other local governmental dignitaries.

The stocks have a year to date performance of 6.79 percent and weekly performance of 1.93 percent. The stock has been moved at 20.50 percent over the last six months. The stock has performed 18.57 percent around the most recent 30 days and changed 29.36 percent over the most recent 3-months.

If compared to the average trading volume of 9.49M shares, ON reached to a volume of 9325258 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about 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 $75.62 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 2.00. 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.

Summit Insights have made an estimate for ON Semiconductor Corporation shares, keeping their opinion on the stock as Hold, with their previous recommendation back on August 01, 2022. While these analysts kept the previous recommendation, Wells Fargo raised their target price from $58 to $65. The new note on the price target was released on May 12, 2022, representing the official price target for ON Semiconductor Corporation stock. Previously, the target price had yet another raise from $55 to $69, while UBS kept a Neutral rating on ON stock. On February 08, 2022, analysts increased their price target for ON shares from 70 to 73.

The Average True Range (ATR) for ON Semiconductor Corporation is set at 3.32, with the Price to Sales ratio for ON stock in the period of the last 12 months amounting to 4.17. The Price to Book ratio for the last quarter was 5.84, with the Price to Cash per share for the same quarter was set at 4.09. Price to Free Cash Flow for ON in the course of the last twelve months was 24.04 with Quick ratio for the last quarter at 1.90.

ON stock trade performance evaluation

ON Semiconductor Corporation [ON] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.93. With this latest performance, ON shares gained by 18.57% in over the last four-week period, additionally plugging by 20.50% over the last 6 months – not to mention a rise of 76.99% 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 64.40, with the RSI for the last a single of trading hit 65.31, and the three-weeks RSI is set at 62.78 for ON Semiconductor Corporation [ON]. The present Moving Average for the last 50 days of trading for this stock 59.19, while it was recorded at 71.20 for the last single week of trading, and 59.75 for the last 200 days.

ON Semiconductor Corporation [ON]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and ON Semiconductor Corporation [ON] shares currently have an operating margin of +20.38 and a Gross Margin at +38.80. ON Semiconductor Corporation’s Net Margin is presently recorded at +14.98.

Return on Equity for this stock inclined to 24.86, with Return on Assets sitting at 11.04.

ON Semiconductor Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.90 and a Current Ratio set at 2.80.

Earnings per share (EPS) analysis for ON Semiconductor Corporation [ON] stock

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 19.21%.

ON Semiconductor Corporation [ON]: Insider Ownership positions

There are presently around $32,530 million, or 98.40% of ON stock, in the hands of institutional investors. The top three institutional holders of ON stocks are: VANGUARD GROUP INC with ownership of 50,340,515, which is approximately 20.83% of the company’s market cap and around 0.30% of the total institutional ownership; BLACKROCK INC., holding 45,236,311 shares of the stock with an approximate value of $3.28 billion in ON stocks shares; and FMR LLC, currently with $2.85 billion in ON stock with ownership of nearly 17.036% 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 382 institutional holders increased their position in ON Semiconductor Corporation [NASDAQ:ON] by around 81,977,660 shares. Additionally, 332 investors decreased positions by around 30,000,962 shares, while 91 investors held positions by with 336,529,121 shares. The mentioned changes placed institutional holdings at 448,507,743 shares, according to the latest SEC report filing. ON stock had 99 new institutional investments in for a total of 3,401,496 shares, while 105 institutional investors sold positions of 7,970,396 shares during the same period.


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