Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. ON Semiconductor Corp. shares valued at $2,411,345 were purchased by KEETON SIMON on Jul 31 ’24. At $77.94 per share, KEETON SIMON acquired 30,939 shares.
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Also, Thad Trent sold 38,000 shares, netting a total of over 2,756,938 in proceeds. Following the sale of shares at $72.55 each, the insider now holds 331,829 shares.
Before that, MASCARENAS PAUL ANTHONY had sold 911 shares from its account. In a trade valued at $67,833, the Director traded ON Semiconductor Corp. shares for $74.46 each. Upon closing the transaction, the insider’s holdings decreased to 911 shares, worth approximately $3.83 million.
As published in a research note from TD Cowen on July 30, 2024, ON Semiconductor Corp. [ON] has been retained to a Buy and the price target has been revised to $90. Analysts at Citigroup downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in mid July. As of July 11, 2024, Morgan Stanley has decreased its “an Equal-weight” rating to a “an Underweight” for ON. Earlier on May 13, 2024, Jefferies initiated its rating. Their recommendation was “a Buy” for ON stock.
Analyzing ON Stock Performance
During the last five days, there has been a surge of approximately 11.61%. Over the course of the year, ON Semiconductor Corp. shares have dropped approximately -6.32%. Shares of the company reached a 52-week high of $85.16 on 03/07/24 and a 52-week low of $59.34 on 04/22/24. A 50-day SMA is recorded $72.84, while a 200-day SMA reached $74.23. Nevertheless, trading volume fell to 11.04 million shares from 11.85 million shares the previous day.
Support And Resistance Levels for ON Semiconductor Corp. (ON)
According to the 24-hour chart, there is a support level at 75.57, which, if violated, would cause prices to drop to 72.89. In the upper region, resistance lies at 80.19. The next price resistance is at 82.13. RSI (Relative Strength Index) is 56.38 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.23, which suggests the price will increase in the coming days. Percent R is at 13.76%, indicating bullish price movement. Stochastics%K at holding indicates that the stock is to be held.
