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ON Semiconductor Corporation (NASDAQ: ON): Performance Review And Growth Outlook

In the last trading session, 9.74 million ON Semiconductor Corporation (NASDAQ:ON) shares changed hands as the company’s beta touched 1.77. With the company’s per share price at $93.10 changed hands at -$3.37 or -3.49% during last session, the market valuation stood at $41.63B. ON’s last price was a discount, traded about -19.6% off its 52-week high of $111.35. The share price had its 52-week low at $54.93, which suggests the last value was 41.0% up since then. When we look at ON Semiconductor Corporation’s average trading volume, we note the 10-day average is 4.48 million shares, with the 3-month average coming to 5.80 million.

Analysts gave the ON Semiconductor Corporation (ON) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.20. If we narrow down to specifics, the data shows that 0 out of 30 analysts rate the stock as a Sell, with a further 2 assigning it an Overweight rating. Of the remaining, 10 recommended ON as a Hold, 18 felt it is a Buy and 0 rated the stock as Underweight. ON Semiconductor Corporation’s EPS for the current quarter is expected to be $1.34.

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ON Semiconductor Corporation (NASDAQ:ON) trade information

Instantly ON was in red as seen at the end of in last trading. With action -4.92%, the performance over the past five days has been red. The drop to weekly highs of 99.45 on Friday, 09/15/23 subtracted -3.49% to the stock’s daily price. The company’s shares are showing year-to-date upside of 49.27%, with the 5-day performance at -4.92% in the red. However, in the 30-day time frame, ON Semiconductor Corporation (NASDAQ:ON) is 1.00% up. Looking at the short shares, we see there were 25.24 million shares sold at short interest cover period of 4.53 days.

The consensus price target for the stock as assigned by Wall Street analysts is $121.15, meaning bulls need an upside of 23.15% from its current market value. According to analyst projections, ON’s forecast low is $100.00 with $135.00 as the target high. To hit the forecast high, the stock’s price needs a -45.01% plunge from its current level, while the stock would need to soar -7.41% for it to hit the projected low.

ON Semiconductor Corporation (ON) estimates and forecasts

Data shows that the ON Semiconductor Corporation share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 15.65% over the past 6 months, a -1.50% in annual growth rate that is considerably higher than the industry average of -7.80%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for ON Semiconductor Corporation will fall -7.60%, while the growth in revenue is estimated to hit 3.00% for the next quarter. Year-over-year growth is forecast to reach 0.70% up from the last financial year.

Consensus estimates given by 25 financial analysts project the company’s revenue in the current quarter to hit an average of $2.14 billion. 25 analysts are of the opinion that ON Semiconductor Corporation’s revenue for the quarter ending Dec 2023 will be $2.18 billion. The company’s revenue for the corresponding quarters a year ago was $2.12 billion and $2.1 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 1.20%. The estimates for the next quarter sales put growth at 3.50%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 38.20%. The 2023 estimates are for ON Semiconductor Corporation earnings to increase by 86.80%, but the outlook for the next 5-year period is at 7.41% per year.

ON Dividends

ON Semiconductor Corporation is expected to release its next quarterly earnings report between October 30 and November 03.

ON Semiconductor Corporation (NASDAQ:ON)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 0.28% of ON Semiconductor Corporation shares while 104.24% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 104.54%. There are 104.24% institutions holding the ON Semiconductor Corporation stock share, with FMR, LLC the top institutional holder. As of Jun 29, 2023, the company held 12.99% of the shares, roughly 56.08 million ON shares worth $5.22 billion.

Vanguard Group Inc holds the second largest percentage of outstanding shares, with 11.61% or 50.16 million shares worth $4.67 billion as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund. With 13.47 million shares estimated at $1.25 billion under it, the former controlled 3.12% of total outstanding shares. On the other hand, Vanguard 500 Index Fund held about 2.38% of the shares, roughly 10.28 million shares worth around $957.31 million.

On Key

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