ON Semiconductor Corporation [ON] is 30.19% higher this YTD. Is it still time to buy?

ON Semiconductor Corporation [NASDAQ: ON] gained 4.44% or 3.45 points to close at $81.20 with a heavy trading volume of 6075399 shares. The company report on March 14, 2023 that onsemi extends Bluetooth Low Energy MCU Family for Automotive Wireless Applications.

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NCV-RSL15 combines the industry’s lowest power consumption and latest in embedded security for vehicle access, tire monitoring and more.

onsemi (Nasdaq: ON), a leader in intelligent power and sensing technologies, today announced an ultra-low power automotive-grade wireless microcontroller with Bluetooth® Low Energy connectivity. The NCV-RSL15 is ideal for vehicle manufacturers who are increasingly favoring wireless connectivity to reduce the cost and weight of excess cabling as the number of sensors and in-vehicle communication grows. The new microcontroller also addresses heightened security concerns resulting from more sensors and with that more possible attack vectors.

It opened the trading session at $80.16, the shares rose to $82.75 and dropped to $79.47, the range by which the price of stock traded the whole day. The daily chart for ON points out that the company has recorded 12.93% gains over the past six months. However, it is still -81.41% lower than its most recent low trading price.

If we look at the average trading volume of 7.10M shares, ON reached to a volume of 6075399 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 $92.12 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.

Raymond James have made an estimate for ON Semiconductor Corporation shares, keeping their opinion on the stock as Mkt Perform, with their previous recommendation back on March 02, 2023. The new note on the price target was released on February 06, 2023, representing the official price target for ON Semiconductor Corporation stock.

The Average True Range (ATR) for ON Semiconductor Corporation is set at 3.43, with the Price to Sales ratio for ON stock in the period of the last 12 months amounting to 4.38. The Price to Book ratio for the last quarter was 5.67, with the Price to Cash per share for the same quarter was set at 6.51. Price to Free Cash Flow for ON in the course of the last twelve months was 22.38 with Quick ratio for the last quarter at 2.00.

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 3.18. With this latest performance, ON shares dropped by -3.10% in over the last four-week period, additionally plugging by 12.93% over the last 6 months – not to mention a rise of 45.29% 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 55.34, with the RSI for the last a single of trading hit 55.80, and the three-weeks RSI is set at 55.54 for ON Semiconductor Corporation [ON]. The present Moving Average for the last 50 days of trading for this stock 74.82, while it was recorded at 80.37 for the last single week of trading, and 66.89 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 2.00 and a Current Ratio set at 2.80.

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 17.47%.

An analysis of insider ownership at ON Semiconductor Corporation [ON]

There are presently around $34,801 million, in the hands of institutional investors. The top three institutional holders of ON stocks are: FMR LLC with ownership of 50,792,399, which is approximately 11.347% of the company’s market cap and around 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 49,935,983 shares of the stock with an approximate value of $4.05 billion in ON stocks shares; and BLACKROCK INC., currently with $3.51 billion in ON stock with ownership of nearly 0.444% of the company’s market capitalization.

Positions in ON Semiconductor Corporation stocks held by institutional investors increased at the end of Monday and at the time of the Monday reporting period, where 446 institutional holders increased their position in ON Semiconductor Corporation [NASDAQ:ON] by around 35,122,354 shares. Additionally, 349 investors decreased positions by around 33,855,372 shares, while 91 investors held positions by with 359,608,874 shares. The mentioned changes placed institutional holdings at 428,586,600 shares, according to the latest SEC report filing. ON stock had 148 new institutional investments in for a total of 7,647,224 shares, while 72 institutional investors sold positions of 2,631,826 shares during the same period.


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