Investing in ON Semiconductor Corporation (ON) Is Getting More Attractive


ON Semiconductor Corporation’s filing revealed that its Chief Accounting Officer COLPITTS BERNARD RAYMOND JR unloaded Company’s shares for reported $0.14 million on Oct 07. In the deal valued at $68.01 per share,2,111 shares were sold. As a result of this transaction, COLPITTS BERNARD RAYMOND JR now holds 22,931 shares worth roughly $ 1.5 million.

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Then, KEETON SIMON sold 4,550 shares, generating $341,250 in total proceeds. Upon selling the shares at $75.00, the EVP & GM, PSG now owns 162,791 shares.

Before that, KEETON SIMON sold 2,813 shares. ON Semiconductor Corporation shares valued at $196,910 were divested by the EVP & GM, PSG at a price of $70.00 per share. As a result of the transaction, KEETON SIMON now holds 167,341 shares, worth roughly $10.96 million.

William Blair initiated its ON Semiconductor Corporation [ON] rating to an Outperform in a research note published on Monday. A number of analysts have revised their coverage, including Summit Insights’s analysts, who decreased its forecast for the stock in early August from “a Buy” to “a Hold”. Wells Fargo also remained covering ON and has increased its forecast on May 12, 2022 with a “an Overweight” recommendation from previously “an Equal weight” rating. UBS maintained its rating on February 08, 2022. It rated ON as “a Neutral”.

Price Performance Review of ON

On Monday, ON Semiconductor Corporation [NASDAQ:ON] saw its stock jump 3.61% to $65.47. On the same session, the stock had its day’s lowest price of $62.65, but rose to a high of $65.88. Over the last five days, the stock has gained 6.58%. ON Semiconductor Corporation shares have fallen nearly -3.61% since the year began. Nevertheless, the stocks have risen 10.72% over the past one year. While a 52-week high of $76.78 was reached on 08/25/22, a 52-week low of $44.76 was recorded on 07/05/22. SMA at 50 days reached $65.29, while 200 days put it at $60.52. A total of 6.38 million shares were traded, compared to the trading of 8.28 million shares in the previous session.

Levels Of Support And Resistance For ON Stock

The 24-hour chart illustrates a support level at 63.45, which if violated will result in even more drops to 61.44. On the upside, there is a resistance level at 66.68. A further resistance level may holdings at 67.90. The Relative Strength Index (RSI) on the 14-day chart is 53.34, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.03, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 30.37%. Stochastics %K at 41.41% indicates the stock is a holding.

How much short interest is there in ON Semiconductor Corporation?

A steep rise in short interest was recorded in ON Semiconductor Corporation stocks on Jul 14, 2022, growing by 6.59 million shares to a total of 24.25 million shares. Yahoo Finance data shows the prior-month short interest on Jun 14, 2022 was 17.66 million shares. There was a rise of 27.18%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 5.60% of the overall stock float, the days-to-cover ratio (short ratio) rose to 1.97.

ON Semiconductor Corporation [ON] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 48,568,576 shares, or roughly 11.21% of the outstanding ON shares. In other words, the investor’s shares have risen by 7,770,706 from its previous 13-F filing of 40797870.0. Additionally, Fidelity Management & Research Co increased 15.97% of its stake after which the total value it holdings stand at $2,365,070,525, while BlackRock Fund Advisors added 19.35% of its stake to hold $1.69 billion in the firm. Over the last quarter, SSgA Funds Management, Inc. purchased 6,603,825 shares of ON Semiconductor Corporation, while Janus Henderson Investors US LLC bought 3,373 shares. At present, Artisan Partners LP is holding 13,213,781 shares valued at $823.61 million. Allianz Global Investors U.S. LLC owned 11,339,076 shares of the company at the time of its most recent 13F filing, worth $706.76 million.

According to FactSet, ON Semiconductor Corporation’s share price will average $73.38 in the next year, based on opinions of analysts polled by the firm. This is up nearly 18.69 percent from its previous closing price of $63.19. Analysts expect ON Semiconductor Corporation stock to reach the higher price of $81.00, while the lowest price estimate is $55.00. However, 29 analysts have rated ON stock as an Overweight in their predictions for 2022. The most recent change occurred on February 08, 2022 when Truist resumed its ‘”a Buy”‘ rating for the stock and retained the price target to $73.


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