Credit Suisse slashes price target on ON Semiconductor Corporation [ON] – find out why.

ON Semiconductor Corporation [NASDAQ: ON] jumped around 0.59 points on Wednesday, while shares priced at $62.20 at the close of the session, up 0.96%. The company report on January 4, 2023 that onsemi Silicon Carbide Power Module for Traction Inverters Selected for Hyundai Motor Group’s High Performance Electric Vehicles.

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onsemi’s EliteSiC silicon carbide (SiC) modules increase the efficiency and lower the weight of the South Korean automaker’s traction inverters, extending electric vehicle (EV) range and improving performance.

onsemi (Nasdaq: ON), a leader in intelligent power and sensing technologies, today announced that onsemi’s EliteSiC family of silicon carbide (SiC) power modules has been selected for Kia Corporation’s EV6 GT model. The electric vehicle (EV) accelerates from zero to 60 mph in 3.4 seconds and reaches top speed at 161 mph. Within the traction inverter of a high performance EV, the EliteSiC power module enables high-efficiency power conversion from the DC 800 V of the battery to the AC drive for the rear axle. onsemi continues to collaborate with Hyundai Motor Company and Kia Corporation (HMC/KIA) to use the EliteSiC technology for the upcoming high performance EVs based on HMC/KIA’s Electric – Global Module Platform (E-GMP).

ON Semiconductor Corporation stock is now -0.27% down from its year-to-date (YTD) trading value. ON Stock saw the intraday high of $63.39 and lowest of $61.15 per share. The company’s 52-week high price is 77.28, which means current price is +1.85% above from all time high which was touched on 01/03/23.

Compared to the average trading volume of 6.57M shares, ON reached a trading volume of 6187318 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 $73.99 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 2.10. 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 2.69, with the Price to Sales ratio for ON stock in the period of the last 12 months amounting to 3.35. The Price to Book ratio for the last quarter was 4.76, with the Price to Cash per share for the same quarter was set at 5.64. Price to Free Cash Flow for ON in the course of the last twelve months was 15.95 with Quick ratio for the last quarter at 2.10.

How has ON stock performed recently?

ON Semiconductor Corporation [ON] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.37. With this latest performance, ON shares dropped by -14.84% in over the last four-week period, additionally plugging by 30.64% over the last 6 months – not to mention a drop of -11.36% 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 41.02, with the RSI for the last a single of trading hit 39.60, and the three-weeks RSI is set at 43.28 for ON Semiconductor Corporation [ON]. The present Moving Average for the last 50 days of trading for this stock 67.61, while it was recorded at 61.83 for the last single week of trading, and 62.37 for the last 200 days.

ON Semiconductor Corporation [ON]: Deeper insight into the 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 2.10 and a Current Ratio set at 3.00.

Earnings analysis for ON Semiconductor Corporation [ON]

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 18.33%.

Insider trade positions for ON Semiconductor Corporation [ON]

There are presently around $26,185 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 0.10% of the total institutional ownership; FMR LLC, holding 45,616,239 shares of the stock with an approximate value of $2.84 billion in ON stocks shares; and BLACKROCK INC., currently with $2.68 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 February and at the time of the February reporting period, where 381 institutional holders increased their position in ON Semiconductor Corporation [NASDAQ:ON] by around 52,204,265 shares. Additionally, 340 investors decreased positions by around 72,967,968 shares, while 85 investors held positions by with 295,810,071 shares. The mentioned changes placed institutional holdings at 420,982,304 shares, according to the latest SEC report filing. ON stock had 123 new institutional investments in for a total of 9,737,010 shares, while 66 institutional investors sold positions of 3,643,412 shares during the same period.


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