ON Semiconductor Corp. (NASDAQ:ON) has a beta value of 1.80 and has seen 0.75 million shares traded in the recent trading session. The company, currently valued at $30.44B, closed the recent trade at $71.23 per share which meant it gained $2.48 on the day or 3.61% during that session. The ON stock price is -56.32% off its 52-week high price of $111.35 and 13.7% above the 52-week low of $61.47. If we look at the company’s 10-day average daily trading volume, we find that it stood at 6.12 million shares traded. The 3-month trading volume is 7.37 million shares.
ON Semiconductor Corp. (NASDAQ:ON) trade information
Sporting 3.61% in the green today, the stock has traded in the green over the last five days, when the ON stock price touched $71.23 or saw a rise of 1.81%. Year-to-date, ON Semiconductor Corp. shares have moved -14.73%, while the 5-day performance has seen it change 1.06%. Over the past 30 days, the shares of ON Semiconductor Corp. (NASDAQ:ON) have changed -9.78%. Short interest in the company has seen 20.65 million shares shorted with days to cover at 3.21.
ON Semiconductor Corp. (ON) estimates and forecasts
Figures show that ON Semiconductor Corp. shares have underperformed across the wider relevant industry. The company’s shares have lost -21.67% over the past 6 months, with this year growth rate of -15.89%, compared to -11.10% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2024 fiscal year revenue. Growth estimates for the current quarter are -11.80% and -24.10% for the next quarter. Revenue growth from the last financial year stood is estimated to be -8.90%.
26 analysts offering their estimates for the company have set an average revenue estimate of $1.85 billion for the current quarter. 26 have an estimated revenue figure of $1.83 billion for the next quarter concluding in Jun 2024. Year-ago sales stood $1.92 billion and $2.09 billion respectively for this quarter and the next, and analysts expect sales will shrink by -3.70% for the current quarter and -12.70% 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 27.71% over the past 5 years. Earnings growth for 2024 is a modest -17.82% while over the next 5 years, the company’s earnings are expected to increase by 4.61%.
ON Dividends
ON Semiconductor Corp. is expected to release its next earnings report between April 29 and May 03 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
ON Semiconductor Corp. (NASDAQ:ON)’s Major holders
Insiders own 0.34% of the company shares, while shares held by institutions stand at 101.61% with a share float percentage of 101.96%. Investors are also buoyed by the number of investors in a company, with ON Semiconductor Corp. having a total of 1,295 institutions that hold shares in the company. The top two institutional holders are FMR, LLC with over 57.07 million shares worth more than $4.09 billion. As of Dec 30, 2023, FMR, LLC held 13.28% of shares outstanding.
The other major institutional holder is Vanguard Group Inc, with the holding of over 50.34 million shares as of Dec 30, 2023. The firm’s total holdings are worth over $3.61 billion and represent 11.71% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and Fidelity Select Portfolios – Semiconductors Portfolio. As of Dec 30, 2023, the former fund manager holds about 3.15% shares in the company for having 13.53 million shares of worth $970.34 million while later fund manager owns 13.53 million shares of worth $970.32 million as of Feb 28, 2024, which makes it owner of about 3.15% of company’s outstanding stock.
