In the last trading session, 6.66 million shares of the ON Semiconductor Corporation (NASDAQ:ON) were traded, and its beta was 1.71. Most recently the company’s share price was $82.54, and it changed around -$2.7 or -3.17% from the last close, which brings the market valuation of the company to $36.55B. ON currently trades at a discount to its 52-week high of $87.55, offering almost -6.07% off that amount. The share price’s 52-week low was $44.76, which indicates that the current value has risen by an impressive 45.77% since then. We note from ON Semiconductor Corporation’s average daily trading volume that its 10-day average is 7.36 million shares, with the 3-month average coming to 6.92 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 0 out of 31 analysts rate the stock as a Sell; another 3 rate it as Overweight. Among the rest, 10 recommended ON as a Hold, whereas 18 deemed it a Buy, and 0 rated it as Underweight. ON Semiconductor Corporation is expected to report earnings per share of $1.21 for the current quarter.
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ON Semiconductor Corporation (NASDAQ:ON) trade information
Instantly ON has showed a red trend with a performance of -3.17% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 87.07 on Tuesday, 05/23/23 increased the stock’s daily price by 5.2%. The company’s shares are currently up 32.34% year-to-date, but still down -0.60% over the last five days. On the other hand, ON Semiconductor Corporation (NASDAQ:ON) is 10.97% down in the 30-day period. We can see from the shorts that 26.38 million shares have been sold at a short interest cover period of 4.5 day(s).
The consensus price target as assigned by Wall Street analysts is $95.08, which translates to bulls needing to increase their stock price by 13.19% from its current value. Analyst projections state that ON is forecast to be at a low of $80.00 and a high of $110.00. In order for the stock price to hit the forecast high, the stock would need to plunge -33.27% from its current level, while the stock would need to crash 3.08% 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 not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 13.91 percent over the past six months and at a -8.63% annual growth rate that is well below the industry average of -4.40%. Moreover, analysts have decided to roll up on their fiscal year 2023 revenue estimates. The rating firms predict that it will loss -9.70% in revenue this quarter, and will report a decrease of -16.60% in the next quarter. The year-over-year growth rate is expected to be -2.40%, down from the previous year.
Consensus estimates provided by 24 financial analysts predict the company will bring in an average of $2.02 billion in revenue for the current quarter. 24 analysts expect ON Semiconductor Corporation to make $2.06 billion in revenue for the quarter ending Sep 2023. The company’s sales for the same quarters a year ago were $2.08 billion and $2.12 billion respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -3.00%. Forecasts for the next quarter put sales growth at -2.60%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 38.20%. ON Semiconductor Corporation earnings are expected to increase by 86.80% in 2023, but the outlook is positive 6.27% per year for the next five years.
ON Semiconductor Corporation’s next quarterly earnings report is expected to be released around July 31 and August 04.
ON Semiconductor Corporation (NASDAQ:ON)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 0.27% of ON Semiconductor Corporation shares, and 102.19% of them are in the hands of institutional investors. The stock currently has a share float of 102.47%. ON Semiconductor Corporation stock is held by 1,217 institutions, with FMR, LLC being the largest institutional investor. By Mar 30, 2023, it held 13.02% of the shares, which is about 56.22 million shares worth $4.64 billion.
Vanguard Group, Inc. (The), with 11.63% or 50.24 million shares worth $4.15 billion as of Mar 30, 2023, 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 Dec 30, 2022. The former held 13.14 million shares worth $1.08 billion, making up 3.04% of all outstanding shares. On the other hand, Janus Henderson Enterprise Fund held roughly 10.13 million shares worth around $835.8 million, which represents about 2.35% of the total shares outstanding.