ROTH MKM slashes price target on ON Semiconductor Corp. [ON] – find out why.

ON Semiconductor Corp. [NASDAQ: ON] gained 0.89% or 0.65 points to close at $73.87 with a heavy trading volume of 11841812 shares. The company report on January 9, 2024 at 4:00 PM that onsemi to Announce Fourth Quarter and 2023 Annual Financial Results.

onsemi (Nasdaq: ON) plans to announce its financial results for the fourth quarter, which ended December 31, 2023, before the market opens on Monday, February 5, 2024.

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The company will host a conference call at 9 a.m. Eastern Time (ET) on February 5, 2024 following the release of its financial results. Investors and interested parties can access the conference call in the following manner:.

The daily chart for ON points out that the company has recorded -24.08% loss over the past six months.

If we look at the average trading volume of 7.85M shares, ON reached to a volume of 11841812 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 Corp. [ON]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ON shares is $88.04 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 1.82. 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.

ROTH MKM have made an estimate for ON Semiconductor Corp. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on November 14, 2023.

The Average True Range (ATR) for ON Semiconductor Corp. is set at 2.66, with the Price to Sales ratio for ON stock in the period of the last 12 months amounting to 3.82. The Price to Book ratio for the last quarter was 4.25, with the Price to Cash per share for the same quarter was set at 6.25. Price to Free Cash Flow for ON in the course of the last twelve months was 50.86 with Quick ratio for the last quarter at 1.60.

Trading performance analysis for ON stock

ON Semiconductor Corp. [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 dropped by -11.81% in over the last four-week period, additionally sinking by -24.08% over the last 6 months – not to mention a rise of 11.37% 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 41.35, with the RSI for the last a single of trading hit 37.85, and the three-weeks RSI is set at 43.70 for ON Semiconductor Corp. [ON]. The present Moving Average for the last 50 days of trading for this stock 75.32, while it was recorded at 73.33 for the last single week of trading, and 85.51 for the last 200 days.

ON Semiconductor Corp. [ON]: A deeper dive into fundamental analysis

ON Semiconductor Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.60 and a Current Ratio set at 2.44.

ON Semiconductor Corp. [ON]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, ON Semiconductor Corp. posted 1.32/share EPS, while the average EPS was predicted by analysts to be reported at 1.27/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 3.90%. 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 Corp. go to 4.63%.

An analysis of Institutional ownership at ON Semiconductor Corp. [ON]

The top three institutional holders of ON stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in ON stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in ON stock with ownership which is approximately 5.8325%.