A company insider recently sold 20,000 shares of ON Semiconductor Corporation [ON]. Should You Sale?

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. ON Semiconductor Corporation shares valued at $1,123,322 were sold by El-Khoury Hassane on Jul 18. At $56.17 per share, El-Khoury Hassane sold 20,000 shares. The insider’s holdings dropped to 261,162 shares worth approximately $17.77 million following the completion of this transaction.


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Also, HOPKIN VINCE CRAIG sold 6,296 shares, netting a total of over 328,022 in proceeds. Following the sale of shares at $52.10 each, the insider now holds 169,073 shares.

Before that, HOPKIN VINCE CRAIG had sold 5,000 shares from its account. In a trade valued at $278,500, the EVP & GM, ASG traded ON Semiconductor Corporation shares for $55.70 each. Upon closing the transaction, the insider’s holdings decreased to 5,000 shares, worth approximately $11.93 million.

As published in a research note from Summit Insights on August 01, 2022, ON Semiconductor Corporation [ON] has been rated down from a Buy to a Hold. Analysts at Wells Fargo upgraded the stock from ‘”an Equal weight”‘ to ‘”an Overweight”‘ outlook in a report released in mid May. As of February 08, 2022, UBS has reiterated its “Neutral” rating for ON. Earlier on February 08, 2022, Truist resumed its rating. Their recommendation was “a Buy” for ON stock.

Analyzing ON’s Price Performance

On Thursday, ON Semiconductor Corporation [NASDAQ: ON] plunged -1.13% to $68.05. The stock’s lowest price that day was $67.61, but it reached a high of $68.99 in the same session. During the last five days, there has been a surge of approximately 5.41%. Over the course of the year, ON Semiconductor Corporation shares have jumped approximately 0.19%. Shares of the company reached a 52-week high of $71.25 on 01/04/22 and a 52-week low of $44.76 on 07/05/22. A 50-day SMA is recorded $57.49, while a 200-day SMA reached $58.60. Nevertheless, trading volume fell to 6.19 million shares from 10.42 million shares the previous day.

Support And Resistance Levels for ON Semiconductor Corporation (ON)

According to the 24-hour chart, there is a support level at 67.44, which, if violated, would cause prices to drop to 66.84. In the upper region, resistance lies at 68.82. The next price resistance is at 69.60. RSI (Relative Strength Index) is 66.87 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 5.21, which suggests the price will increase in the coming days. Percent R is at 8.23%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.

Is ON Semiconductor Corporation subject to short interest?

Stocks of ON Semiconductor Corporation saw a sharp rise in short interest on Jul 14, 2022 jumping by 6.59 million shares to 24.25 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 17.66 million shares. A jump of 27.18% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.97 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.97.

Which companies own the most shares of ON Semiconductor Corporation (ON)?

According to The Vanguard Group, Inc. filings, the company currently owns 50,340,515 shares, which is about 11.59% of the total ON shares outstanding. The investor’s shares have appreciated by 9,542,645 from its previous 13-F filing of 40797870.0 shares. With the completion of the sale transaction, Fidelity Management & Research Co’s stake is now worth $1,646,133,943. BlackRock Fund Advisors acquire a 5.76% interest valued at $1.14 billion while Janus Henderson Investors US LLC sold a -1,497,412 stake. A total of -99,808 shares of ON Semiconductor Corporation were sold by Allianz Global Investors U.S. LLC during the quarter, and -105,329 were sold by SSgA Funds Management, Inc. In its current portfolio, Artisan Partners LP holds 10,460,966 shares valued at $526.29 million.

In terms of ON Semiconductor Corporation share price expectations, FactSet research, analysts set an average price target of $74.20 in the next 12 months, up nearly 8.96% from the previous closing price of $68.83. Analysts anticipate ON Semiconductor Corporation stock to reach $82.00 by 2022, with the lowest price target being $55.00. In spite of this, 28 analysts ranked ON Semiconductor Corporation stock as an Overweight at the end of 2022. On February 08, 2022, Needham assigned a price target of “a Strong buy” to the stock and reiterated coverage with a $80.

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