ON Semiconductor Corp. [ON] Stock trading around $77.62 per share: What’s Next?

ON Semiconductor Corp. [NASDAQ: ON] surged by $0.15 during the normal trading session on while it closed the day at $77.62. The company report on February 5, 2024 at 8:00 AM that onsemi Reports Fourth Quarter and Full Year 2023 Earnings.

Record automotive revenue in 2023 increased 29% year-over-year.

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onsemi (the “Company”) (Nasdaq: ON) today announced its fourth quarter and fiscal year 2023 results with the following highlights:.

ON Semiconductor Corp. stock has also loss -1.23% of its value over the past 7 days. However, ON stock has inclined by 10.84% in the 3 months of the year. Over the past six months meanwhile, it has lost -16.56% and lost -7.08% year-on date.

The market cap for ON stock reached $33.17 billion, with 426.39 million shares outstanding and 424.30 million shares in the current float. Compared to the average trading volume of 7.22M shares, ON reached a trading volume of 5559708 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say 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 $88.49 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 1.94. 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.

TD Cowen have made an estimate for ON Semiconductor Corp. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on February 06, 2024. While these analysts kept the previous recommendation, ROTH MKM raised their target price to Buy. The new note on the price target was released on November 14, 2023, representing the official price target for ON Semiconductor Corp. stock. Previously, the target price had yet another drop from $120 to $60, while Robert W. Baird kept a Neutral rating on ON stock.

The Average True Range (ATR) for ON Semiconductor Corp. is set at 2.75, with the Price to Sales ratio for ON stock in the period of the last 12 months amounting to 4.02. 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 5.82. Price to Free Cash Flow for ON in the course of the last twelve months was 75.66 with Quick ratio for the last quarter at 1.74.

ON stock trade performance evaluation

ON Semiconductor Corp. [ON] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.23. With this latest performance, ON shares gained by 3.23% in over the last four-week period, additionally sinking by -16.56% over the last 6 months – not to mention a drop of -5.18% 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 50.99, with the RSI for the last a single of trading hit 49.75, and the three-weeks RSI is set at 50.85 for ON Semiconductor Corp. [ON]. The present Moving Average for the last 50 days of trading for this stock 78.09, while it was recorded at 79.20 for the last single week of trading, and 85.53 for the last 200 days.

ON Semiconductor Corp. [ON]: An insightful look at the core fundamentals

ON Semiconductor Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.74 and a Current Ratio set at 2.71.

Earnings per share (EPS) analysis for ON Semiconductor Corp. [ON] stock

With the latest financial reports released by the company, ON Semiconductor Corp. posted 1.19/share EPS, while the average EPS was predicted by analysts to be reported at 1.09/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 9.20%. 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 4.61%.

ON Semiconductor Corp. [ON]: Institutional Ownership

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%.