ON Semiconductor Corporation [NASDAQ: ON] gained 3.64% or 2.59 points to close at $73.74 with a heavy trading volume of 4754153 shares. The company report on November 15, 2022 that onsemi’s New Approach to Inductive Position Sensing Speeds Up Time-to-Market.
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Designed to overcome limitations of inductive sensing, the NCS32100 rotary position sensor brings high speed and accuracy to industrial applications.
onsemi (Nasdaq: ON), a leader in intelligent power and sensing technologies, today introduced an innovative dual-inductive rotary position sensor, which convinces with its speed and accuracy. The NCS32100 uses a newly patented approach to inductive position sensing, making it an ideal choice for industrial and robotic applications, where fast-moving robotics and machinery are deployed.
The daily chart for ON points out that the company has recorded 35.30% gains over the past six months.
If we look at the average trading volume of 7.24M shares, ON reached to a volume of 4754153 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.
Credit Suisse have made an estimate for ON Semiconductor Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on November 16, 2022. While these analysts kept the previous recommendation, William Blair raised their target price to Outperform. The new note on the price target was released on October 17, 2022, representing the official price target for ON Semiconductor Corporation stock. On May 12, 2022, analysts increased their price target for ON shares from 58 to 65.
The Average True Range (ATR) for ON Semiconductor Corporation is set at 3.60, with the Price to Sales ratio for ON stock in the period of the last 12 months amounting to 3.88. The Price to Book ratio for the last quarter was 5.64, with the Price to Cash per share for the same quarter was set at 5.77. Price to Free Cash Flow for ON in the course of the last twelve months was 18.45 with Quick ratio for the last quarter at 2.10.
Trading performance analysis for ON stock
ON Semiconductor Corporation [ON] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.75. With this latest performance, ON shares gained by 12.84% in over the last four-week period, additionally plugging by 35.30% over the last 6 months – not to mention a rise of 19.49% 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 59.28, with the RSI for the last a single of trading hit 61.33, and the three-weeks RSI is set at 57.52 for ON Semiconductor Corporation [ON]. The present Moving Average for the last 50 days of trading for this stock 65.84, while it was recorded at 71.75 for the last single week of trading, and 61.31 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 $31,502 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 $3.36 billion in ON stocks shares; and BLACKROCK INC., currently with $3.18 billion in ON stock with ownership of nearly -4.749% of the company’s market capitalization.
385 institutional holders increased their position in ON Semiconductor Corporation [NASDAQ:ON] by around 52,334,011 shares. Additionally, 344 investors decreased positions by around 73,292,832 shares, while 85 investors held positions by with 301,581,380 shares. The mentioned changes placed institutional holdings at 427,208,223 shares, according to the latest SEC report filing. ON stock had 126 new institutional investments in for a total of 9,751,240 shares, while 69 institutional investors sold positions of 3,647,414 shares during the same period.