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Why ON Semiconductor Corp. (ON) Stock Could See Much Higher Prices Ahead

ON Semiconductor Corp. (NASDAQ: ON) is -2.86% lower on its value in year-to-date trading and has touched a low of $61.47 and a high of $111.35 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The ON stock was last observed hovering at around $78.92 in the last trading session, with the day’s gains setting it 2.22%.

Currently trading at $81.14, the stock is 4.47% and 4.50% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 6.85 million and changing 2.81% at the moment leaves the stock -5.04% off its SMA200. ON registered 3.72% gain for a year compared to 6-month loss of -17.92%. The firm has a 50-day simple moving average (SMA 50) of $4.31 and a 200-day simple moving average (SMA200) of $11.04.

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The stock witnessed a 14.07% gain in the last 1 month and extending the period to 3 months gives it a 13.29%, and is 6.50% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 3.12% over the week and 3.22% over the month.

ON Semiconductor Corp. (ON) has around 30100 employees, a market worth around $34.67B and $8.25B in sales. Current P/E ratio is 16.59 and Fwd P/E is 16.04. Profit margin for the company is 26.46%. Distance from 52-week low is 32.00% and -27.13% from its 52-week high. The company has generated returns on investments over the last 12 months (20.64%).

ON Semiconductor Corp. quarterly earnings per share for the current quarter are estimated at $1.05 with sales reaching $1.85B over the same period.The EPS is expected to shrink by -17.70% this year, but quarterly earnings will post -8.80% year-over-year. Quarterly sales are estimated to shrink -3.70% in year-over-year returns.

ON Semiconductor Corp. (ON) Top Institutional Holders

1,308 institutions hold shares in ON Semiconductor Corp. (ON), with institutional investors hold 103.03% of the company’s shares. The shares outstanding are 426.39M, and float is at 424.30M with Short Float at 4.68%. Institutions hold 102.65% of the Float.

The top institutional shareholder in the company is FMR, LLC with over 56.08 million shares valued at $5.3 billion. The investor’s holdings represent 12.99% of the ON Shares outstanding. As of Jun 29, 2023, the second largest holder is Vanguard Group Inc with 50.16 million shares valued at $4.74 billion to account for 11.61% of the shares outstanding. The other top investors are Blackrock Inc. which holds 40.93 million shares representing 9.48% and valued at over $3.87 billion, while State Street Corporation holds 4.22% of the shares totaling 18.24 million with a market value of $1.72 billion.

ON Semiconductor Corp. (ON) Insider Activity

A total of 5 insider transactions have happened at ON Semiconductor Corp. (ON) in the last six months, with sales accounting for 5 and purchases happening 0 times. The most recent transaction is an insider sale by COLPITTS BERNARD RAYMOND JR,the company’sChief Accounting Officer. SEC filings show that COLPITTS BERNARD RAYMOND JR sold 1,005 shares of the company’s common stock on Sep 12 at a price of $96.62 per share for a total of $97103.0. Following the sale, the insider now owns 31045.0 shares.

ON Semiconductor Corp. disclosed in a document filed with the SEC on Sep 11 that COLPITTS BERNARD RAYMOND JR (Chief Accounting Officer) sold a total of 2,795 shares of the company’s common stock. The trade occurred on Sep 11 and was made at $99.18 per share for $0.28 million. Following the transaction, the insider now directly holds 32050.0 shares of the ON stock.

Still, SEC filings show that on Aug 17, Yan Christine Y (Director) disposed off 3,624 shares at an average price of $92.16 for $0.33 million. The insider now directly holds 38,532 shares of ON Semiconductor Corp. (ON).

ON Semiconductor Corp. (ON): Who are the competitors?

The company’s main competitors (and peers) include NVIDIA Corp. (NVDA) that is trading 244.41% up over the past 12 months. Broadcom Inc. (AVGO) that is 121.12% higher over the same period.

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