ON Semiconductor Corporation (NASDAQ:ON) has a beta value of 1.98 and has seen 2,864,332 shares traded in the recent trading session. The company, currently valued at $15.2 Billion, closed the recent trade at $36.97 per share which meant it gained $0.56 on the day or 1.54% during that session. The ON stock price is -0.3% off its 52-week high price of $37.08 and 77.9% above the 52-week low of $8.17. If we look at the company’s 10-day average daily trading volume, we find that it stood at 7.62 Million shares traded. The 3-month trading volume is 6.74 Million shares.
The consensus among analysts is that ON Semiconductor Corporation (ON) is an Overweight stock at the moment, with a recommendation rating of 2.3. 2 analysts rate the stock as a Sell, while 1 rate it as Overweight. 6 out of 27 have rated it as a Hold, with 16 advising it as a Buy. 2 have rated the stock as Underweight. The expected earnings per share for the stock is $0.27.
ON Semiconductor Corporation (NASDAQ:ON) trade information
Sporting 1.54% in the green today, the stock has traded in the green over the last five days, with the highest price hit on Wednesday, Jan 13 when the ON stock price touched $37.09- or saw a rise of 0.3%. Year-to-date, ON Semiconductor Corporation shares have moved 12.99%, while the 5-day performance has seen it change 8.57%. Over the past 30 days, the shares of ON Semiconductor Corporation (NASDAQ:ON) have changed 20.61%. Short interest in the company has seen 31.09 Million shares shorted with days to cover at 4.61.
Wall Street analysts have a consensus price target for the stock at $34.04, which means that the shares’ value could jump -7.93% from current levels. The projected low price target is $17 while the price target rests at a high of $44. In that case, then, we find that the latest price level in today’s session is +19.02% off the targeted high while a plunge would see the stock lose -54.02% from current levels.
ON Semiconductor Corporation (ON) estimates and forecasts
Figures show that ON Semiconductor Corporation shares have underperformed across the wider relevant industry. The company’s shares have gained +75.98% over the past 6 months, with this year growth rate of -48.32%, compared to -8.2% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2021 fiscal year revenue. Growth estimates for the current quarter are -10% and 140% for the next quarter. Revenue growth from the last financial year stood is estimated to be -6.5%.
24 analysts offering their estimates for the company have set an average revenue estimate of $1.35 Billion for the current quarter. 24 have an estimated revenue figure of $1.34 Billion for the next quarter concluding in March 01, 2021. Year-ago sales stood $1.4 Billion and $1.28 Billion respectively for this quarter and the next, and analysts expect sales will grow by -3.5% for the current quarter and 5.2% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was +3.5% over the past 5 years. Earnings growth for 2021 is a modest -61.7% while over the next 5 years, the company’s earnings are expected to increase by 6.78%.
ON Semiconductor Corporation (NASDAQ:ON)’s Major holders
Insiders own 0.96% of the company shares, while shares held by institutions stand at 102.18% with a share float percentage of 103.17%. Investors are also buoyed by the number of investors in a company, with ON Semiconductor Corporation having a total of 586 institutions that hold shares in the company. The top two institutional holders are FMR, LLC with over 40.41 Million shares worth more than $876.48 Million. As of September 29, 2020, FMR, LLC held 9.83% of shares outstanding.
The other major institutional holder is Vanguard Group, Inc. (The), with the holding of over 36Million shares as of September 29, 2020. The firm’s total holdings are worth over $780.77 Million and represent 8.75% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and Janus Henderson Enterprise Fund. As of September 29, 2020, the former fund manager holds about 2.81% shares in the company for having 11551099 shares of worth $250.54 Million while later fund manager owns 10.91 Million shares of worth $236.71 Million as of September 29, 2020, which makes it owner of about 2.65% of company’s outstanding stock.
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