ON Semiconductor Corp.’s filing revealed that its Group President, PSG KEETON SIMON unloaded Company’s shares for reported $2.41 million on Jul 31 ’24. In the deal valued at $77.94 per share,30,939 shares were sold. As a result of this transaction, KEETON SIMON now holds 231,092 shares worth roughly $16.57 million.
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Then, KEETON SIMON bought 30,939 shares, generating $2,411,345 in total proceeds.
Before that, Thad Trent sold 38,000 shares. ON Semiconductor Corp. shares valued at $2,756,938 were divested by the Exec VP & CFO at a price of $72.55 per share. As a result of the transaction, Thad Trent now holds 331,829 shares, worth roughly $23.8 million.
TD Cowen reiterated its ON Semiconductor Corp. [ON] rating to a Buy in a research note published on July 30, 2024; the price target was $90. A number of analysts have revised their coverage, including Citigroup’s analysts, who decreased its forecast for the stock in mid July from “a Buy” to “a Neutral”. Morgan Stanley also remained covering ON and has decreased its forecast on July 11, 2024 with a “an Underweight” recommendation from previously “an Equal-weight” rating. Jefferies started covering the stock on May 13, 2024. It rated ON as “a Buy”.
Price Performance Review of ON
On Friday, ON Semiconductor Corp. [NASDAQ:ON] saw its stock jump 3.45% to $71.72. Over the last five days, the stock has gained 5.59%. ON Semiconductor Corp. shares have fallen nearly -14.14% since the year began. Nevertheless, the stocks have fallen -25.93% over the past one year. While a 52-week high of $98.58 was reached on 03/07/24, a 52-week low of $59.34 was recorded on 04/22/24. SMA at 50 days reached $73.18, while 200 days put it at $73.93.
Levels Of Support And Resistance For ON Stock
The 24-hour chart illustrates a support level at 70.44, which if violated will result in even more drops to 69.15. On the upside, there is a resistance level at 72.59. A further resistance level may holdings at 73.45. The Relative Strength Index (RSI) on the 14-day chart is 49.21, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.48, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 56.24%. Stochastics %K at 34.15% indicates the stock is a holding.
How much short interest is there in ON Semiconductor Corp.?
A steep rise in short interest was recorded in ON Semiconductor Corp. stocks on 2024-08-30, growing by 1.89 million shares to a total of 26.74 million shares. Yahoo Finance data shows the prior-month short interest on 2024-07-31 was 24.85 million shares. There was a rise of 7.06%, which implies that there is a positive sentiment for the stock.
The most recent change occurred on April 30, 2024 when TD Cowen resumed its ‘”a Buy”‘ rating for the stock and retained the price target to $85.
