In today’s recent session, 1.17 million shares of the ON Semiconductor Corporation (NASDAQ:ON) have been traded, and its beta is 1.81. Most recently the company’s share price was $61.28, and it changed around -$0.26 or -0.42% from the last close, which brings the market valuation of the company to $26.56B. ON at last check was trading at a discount to its 52-week high of $64.04, offering almost -4.5% off that amount. The share price’s 52-week low was $28.09, which indicates that the recent value has risen by an impressive 54.16% since then. We note from ON Semiconductor Corporation’s average daily trading volume that its 3-month average coming to 5.59 million.
ON Semiconductor Corporation stock received a consensus recommendation rating of an Overweight, based on a mean score of 2.10. If we narrow it down even further, the data shows that 1 out of 30 analysts rate the stock as a Sell; another 3 rate it as Overweight. Among the rest, 8 recommended ON as a Hold, whereas 17 deemed it a Buy, and 1 rated it as Underweight. ON Semiconductor Corporation is expected to report earnings per share of $0.93 for the current quarter.
ON Semiconductor Corporation (NASDAQ:ON) trade information
Instantly ON has been showing red trend so far today with a performance of -0.42% on intraday trading today. The performance over the last five days has remained in the red territory. The rise to weekly highs of 64.04 on Tuesday, 11/23/21 increased the stock’s daily price by 4.31%. The company’s shares are currently up 88.02% year-to-date, but still down -0.95% over the last five days. On the other hand, ON Semiconductor Corporation (NASDAQ:ON) is 33.15% down in the 30-day period.
The consensus price target as assigned by Wall Street analysts is $63.11, which translates to bulls needing to increase their stock price by 2.9% from its current value. Analyst projections state that ON is forecast to be at a low of $50.00 and a high of $75.00. In order for the stock price to hit the forecast high, the stock would need to plunge -22.39% from its current level, while the stock would need to crash 18.41% from its current level to reach the projected low.
ON Semiconductor Corporation (ON) estimates and forecasts
ON Semiconductor Corporation share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 57.79 percent over the past six months and at a 229.41% annual growth rate that is well above the industry average of 26.30%. Moreover, analysts have decided to roll up on their fiscal year 2021 revenue estimates. The rating firms predict that it will gain 165.70% in revenue this quarter, and will report an increase of 131.40% in the next quarter. The year-over-year growth rate is expected to be 27.10%, up from the previous year.
Consensus estimates provided by 25 financial analysts predict the company will bring in an average of $1.79 billion in revenue for the current quarter. 25 analysts expect ON Semiconductor Corporation to make $1.78 billion in revenue for the quarter ending Mar 2022. The company’s sales for the same quarters a year ago were $1.45 billion and $1.48 billion respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 23.60%. Forecasts for the next quarter put sales growth at 19.90%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 3.00%. ON Semiconductor Corporation earnings are expected to increase by 9.90% in 2021, but the outlook is positive 55.45% per year for the next five years.
ON Semiconductor Corporation’s next quarterly earnings report is expected to be released around January 31 and February 04.
ON Semiconductor Corporation (NASDAQ:ON)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 1.19% of ON Semiconductor Corporation shares, and 98.75% of them are in the hands of institutional investors. The stock currently has a share float of 99.94%. ON Semiconductor Corporation stock is held by 831 institutions, with FMR, LLC being the largest institutional investor. By Sep 29, 2021, it held 9.59% of the shares, which is about 41.3 million shares worth $1.89 billion.
Blackrock Inc., with 9.50% or 40.95 million shares worth $1.87 billion as of Sep 29, 2021, holds the second largest percentage of outstanding shares.
Vanguard Total Stock Market Index Fund and Janus Henderson Enterprise Fund were the top two Mutual Funds as of Jun 29, 2021. The former held 12.03 million shares worth $460.45 million, making up 2.79% of all outstanding shares. On the other hand, Janus Henderson Enterprise Fund held roughly 10.13 million shares worth around $463.47 million, which represents about 2.35% of the total shares outstanding.