During the recent session, ON Semiconductor Corporation (NASDAQ:ON)’s traded shares were 2,002,180, with the beta value of the company hitting 1.96. At the last check, the stock’s price was $43.27, reflecting an intraday gain of 0.79% or $0.34. The 52-week high for the ON share is $43.57, that puts it down -0.69% from that peak though still a striking +70.76% gain since the share price plummeted to a 52-week low of $12.65. The company’s market capitalization is $18.07 Billion, and the average intraday trading volume over the past 10 days was 5.89 Million shares, and the average trade volume was 7.58 Million shares over the past three months.
ON Semiconductor Corporation (ON) received a consensus recommendation of Overweight from analysts. That translates to a mean rating of 2.2. ON has a Sell rating from 2 analyst(s) out of 27 analysts who have looked at this stock. 6 analyst(s) recommend to Hold the stock while 1 suggest Overweight, and 17 recommend a Buy rating for it. 1 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.33.
ON Semiconductor Corporation (NASDAQ:ON): Trading Information
ON Semiconductor Corporation (ON) registered a 0.79% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 3.21% in intraday trading to $44.59 this Tuesday, Apr 06, hitting a weekly high. The stock’s 5-day price performance is 3.73%, and it has moved by 19.92% in 30 days. Based on these gigs, the overall price performance for the year is 31.87%. The short interest in ON Semiconductor Corporation (NASDAQ:ON) is 28.42 Million shares and it means that shorts have 3.75 day(s) to cover.
The consensus price target of analysts on Wall Street is $41.2, which implies a decline of -4.78% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $17 and $50 respectively. As a result, ON is trading at a discount of 15.55% off the target high and -60.71% off the low.
ON Semiconductor Corporation (ON) projections and forecasts
Statistics show that ON Semiconductor Corporation has outperformed its competitors in share price, compared to the industry in which it operates. ON Semiconductor Corporation (ON) shares have gone up +85.44% during the last six months, with a year-to-date growth rate more than the industry average at 94.12% against 17.2%. Yet analysts are ramping up their growth forecast for the fiscal year 2021. Revenue is predicted to grow 230% this quarter and then jump 225% in the quarter after that. In the rating firms’ projections, revenue will increase 13.8% compared to the previous financial year.
Revenue for the current quarter is expected to be $1.46 Billion as predicted by 23 analyst(s). Meanwhile, a consensus of 23 analyst(s) estimates revenue growth to $1.49 Billion by the end of June 2021. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $1.28 Billion and $1.21 Billion respectively. In this case, analysts expect current quarter sales to grow by 14.5% and then jump by 23.1% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 3%. While earnings are projected to return 9.9% in 2021, the next five years will return 6.78% per annum.
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ON Semiconductor Corporation (NASDAQ:ON)’s Biggest Investors
ON Semiconductor Corporation insiders own 1.37% of total outstanding shares while institutional holders control 101.94%, with the float percentage being 103.36%. FMR, LLC is the largest shareholder of the company, while 680 institutions own stock in it. As of Dec 30, 2020, the company held over 40.85 Million shares (or 9.92% of all shares), a total value of $1.34 Billion in shares.
The next largest institutional holding, with 36.66 Million shares, is of Vanguard Group, Inc. (The)’s that is approximately 8.9% of outstanding shares. At the market price on Dec 30, 2020, these shares were valued at $1.2 Billion.
Also, the Mutual Funds coming in first place with the largest holdings of ON Semiconductor Corporation (ON) shares are Vanguard Total Stock Market Index Fund and Janus Henderson Enterprise Fund. Data provided on Dec 30, 2020 indicates that Vanguard Total Stock Market Index Fund owns about 11,634,990 shares. This amounts to just over 2.82 percent of the company’s overall shares, with a $380.81 Million market value. The same data shows that the other fund manager holds slightly less at 10.13 Million, or about 2.46% of the stock, which is worth about $331.42 Million.