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The Attractiveness of Investing In ON Semiconductor Corp (ON) is Growing

ON Semiconductor Corp’s recently made public that its CEO & President El-Khoury Hassane unloaded Company’s shares for reported $0.11 million on Oct 15 ’24. In the deal valued at $72.71 per share,1,500 shares were sold. As a result of this transaction, El-Khoury Hassane now holds 839,210 shares worth roughly $55.79 million.

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Then, El-Khoury Hassane sold 1,500 shares, generating $106,200 in total proceeds. Upon selling the shares at $70.80, the CEO & President now owns 840,620 shares.

Before that, EL-KHOURY LIVING TRUST U/T/A D bought 4,500 shares. ON Semiconductor Corp shares valued at $322,740 were divested by the Director at a price of $71.72 per share.

Loop Capital initiated its ON Semiconductor Corp [ON] rating to a Buy in a research note published on November 12, 2024; the price target was $95. A number of analysts have revised their coverage, including TD Cowen’s analysts, who remained covering the stock and in late July has reiterated a ‘”a Buy”‘ rating for it. Citigroup also remained covering ON and has decreased its forecast on July 15, 2024 with a “Neutral” recommendation from previously “Buy” rating. Morgan Stanley revised its rating on July 11, 2024. It rated ON as “an Underweight” which previously was an “an Equal-weight”.

Price Performance Review of ON

On Monday, ON Semiconductor Corp [NASDAQ:ON] saw its stock jump 2.66% to $66.48. Over the last five days, the stock has lost -4.97%. ON Semiconductor Corp shares have fallen nearly -20.41% since the year began. Nevertheless, the stocks have fallen -4.29% over the past one year. While a 52-week high of $86.77 was reached on 03/07/24, a 52-week low of $59.34 was recorded on 04/22/24. SMA at 50 days reached $70.37, while 200 days put it at $72.44.

Levels Of Support And Resistance For ON Stock

The 24-hour chart illustrates a support level at 65.01, which if violated will result in even more drops to 63.53. On the upside, there is a resistance level at 67.27. A further resistance level may holdings at 68.05. The Relative Strength Index (RSI) on the 14-day chart is 40.93, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -3.66, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 81.60%. Stochastics %K at 8.04% indicates the stock is a buying.

How much short interest is there in ON Semiconductor Corp?

A steep rise in short interest was recorded in ON Semiconductor Corp stocks on 2024-10-31, growing by 0.37 million shares to a total of 24.21 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-30 was 23.84 million shares. There was a rise of 1.53%, which implies that there is a positive sentiment for the stock.

The most recent change occurred on May 13, 2024 when Jefferies began covering the stock and recommended ‘”a Buy”‘ rating along with a $100 price target.

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