ON Semiconductor Corporation [NASDAQ: ON] loss -2.96% on the last trading session, reaching $72.83 price per share at the time. The company report on November 14, 2022 that onsemi Silicon Carbide Technology Enables All-Electric VISION EQXX to Go Further on a Single Charge.
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As part of a strategic collaboration with Mercedes-Benz, onsemi provides the carmaker with high-efficiency silicon carbide (SiC) power modules that increase the range of its VISION EQXX.
onsemi (Nasdaq: ON), a leader in intelligent power and sensing technologies, today announced that Mercedes-Benz adopted onsemi silicon carbide (SiC) technology for traction inverters as part of a strategic collaboration. onsemi’s VE-Trac SiC modules increase the efficiency and lowers the weight of the all-electric Mercedes-Benz VISION EQXX’s traction inverter, extending the electric vehicle’s (EV’s) range by up to 10%. The EV completed a 1,202 km (747 mile) trip from Stuttgart, Germany to Silverstone, England, holding the record for longest distance traveled on a single charge.
ON Semiconductor Corporation represents 432.90 million in outstanding shares, while the company has a total market value of $30.54 billion with the latest information. ON stock price has been found in the range of $72.75 to $77.2812.
If compared to the average trading volume of 7.57M shares, ON reached a trading volume of 9252210 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 $73.51 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.
William Blair have made an estimate for ON Semiconductor Corporation shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on October 17, 2022. The new note on the price target was released on August 01, 2022, representing the official price target for ON Semiconductor Corporation stock. Previously, the target price had yet another raise from $58 to $65, while Wells Fargo kept a Overweight rating on ON stock. On February 08, 2022, analysts increased their price target for ON shares from 55 to 69.
The Average True Range (ATR) for ON Semiconductor Corporation is set at 4.08, with the Price to Sales ratio for ON stock in the period of the last 12 months amounting to 3.79. The Price to Book ratio for the last quarter was 5.57, with the Price to Cash per share for the same quarter was set at 5.84. Price to Free Cash Flow for ON in the course of the last twelve months was 18.01 with Quick ratio for the last quarter at 2.10.
Trading performance analysis for ON stock
ON Semiconductor Corporation [ON] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 11.24. With this latest performance, ON shares gained by 26.07% in over the last four-week period, additionally plugging by 32.06% over the last 6 months – not to mention a rise of 24.28% 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 60.50, with the RSI for the last a single of trading hit 63.70, and the three-weeks RSI is set at 58.08 for ON Semiconductor Corporation [ON]. The present Moving Average for the last 50 days of trading for this stock 65.47, while it was recorded at 70.32 for the last single week of trading, and 60.92 for the last 200 days.
ON Semiconductor Corporation [ON]: A deeper dive into fundamental analysis
ON Semiconductor Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.10 and a Current Ratio set at 3.00.
ON Semiconductor Corporation [ON]: An earnings per share (EPS) analysis
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 19.20%.
An analysis of insider ownership at ON Semiconductor Corporation [ON]
There are presently around $31,233 million, in the hands of institutional investors. The top three institutional holders of ON stocks are: VANGUARD GROUP INC with ownership of 49,912,255, which is approximately -0.851% of the company’s market cap and around 0.20% of the total institutional ownership; FMR LLC, holding 45,616,239 shares of the stock with an approximate value of $3.32 billion in ON stocks shares; and BLACKROCK INC., currently with $3.14 billion in ON stock with ownership of nearly -4.749% of the company’s market capitalization.
Positions in ON Semiconductor Corporation stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 388 institutional holders increased their position in ON Semiconductor Corporation [NASDAQ:ON] by around 58,832,403 shares. Additionally, 334 investors decreased positions by around 72,466,132 shares, while 83 investors held positions by with 297,546,297 shares. The mentioned changes placed institutional holdings at 428,844,832 shares, according to the latest SEC report filing. ON stock had 123 new institutional investments in for a total of 9,522,762 shares, while 67 institutional investors sold positions of 3,160,476 shares during the same period.