ON Semiconductor Corporation (NASDAQ:ON) does about 8.09M shares in volume on a normal day but saw 4128354 shares change hands in Monday trading. The company now has a market cap of 8.50B USD and an enterprise value of about $11.44B. Its current market price is $21.37, marking a decrease of -2.97% compared to the previous close of $22.02. The 52 week high reached by this stock is $25.92 whilst the lowest price level in 52 weeks is $8.17. The script in recent trading has seen the stock touch a high of $21.99 and a low of $21.35.
ON Semiconductor Corporation (ON) has a 20-day trading average at $21.60 and the current price is -17.55% off the 52-week high compared with 161.57% distance from its 52-week low. The 50-day simple moving average of the closing price is $20.88 and its 200-day simple moving average is $19.33. If we look at the stock’s price movements over the week, volatility stands at 3.11%, which decreases to 2.91% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 51.64 to suggest the stock is neutral.
The consensus objective for the share price is $23.94, suggesting that the stock has a potential upside of 10.74% over the period. The median price target is 14.52% away from the current levels at $25.00.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on August 11, 2020 when Craig Hallum reiterated the stock to “Buy” and issued a price target of between $22 and $26. B. Riley FBR upgraded the stock to “Buy” from Neutral on July 22, 2020 at a price target of $15-$26. Piper Sandler upgraded its price target at $17-$24.
The current price level is -1.05%, 2.53%, and 10.53% away from its SMA20, SMA50, and SMA200 respectively, with the ON price moving above the 50-day SMA on August 31. ON Semiconductor Corporation (ON) stock is down -0.07% over the week and 3.74% over the past month. Its price is -12.35% year-to-date and 20.06% over the past year.
The stock last released its quarterly earnings report for quarter ended 6/29/2020, with the company’s earnings per share (EPS) of $0.12 above consensus estimates by $0.1. ON’s earnings per share are forecast to shrink by -55.00% this year and 95.50% over next year. Expected sales for next quarter are $1.31 billion, which analysts say will come at $5.07 billion for the current fiscal year and next year at $5.5 billion. In addition, estimates put the company’s current quarterly revenue at an average of $1.27 billion.
To reach the target analysts have set, the stock logically needs to grow 10.74 percent from here.
Outstanding shares total 410.10M with insiders holding 1.33% of the shares and institutional holders owning 103.53% of the company’s common stock. The company has a return on investment of 5.30% and return on equity of -0.60%. The forward price to earnings ratio is 16.31. The beta has a value of 2.18. Price to book ratio is 2.71 and price to sales ratio is 1.61.
According to a U.S. Securities and Exchange Commission filing, Janus Henderson Enterprise Fund has reduced its position in ON Semiconductor Corporation (ON) to 14,684,964 shares, mirroring a recent drop by -12.63%. Janus Henderson Enterprise Fund dumped -2.12 million shares of ON Semiconductor Corporation common stock bringing its total worth to about $302.51 million at the end of recent close, SEC documents show. Janus Henderson Enterprise Fund isn’t the only investment manager who changed stakes and is followed by Vanguard Total Stock Market Index, which sold off 6968.0 shares to end up with 11,676,276 shares worth $240.53 million. Vanguard Small Cap Index Fund cut their holdings by -0.82% in the company over the course of the most recent quarter. It now holds a 2.48% position in ON Semiconductor Corporation thanks to 10.18 million shares amounting to $209.81 million.