ON Semiconductor Corporation (ON) Monthly Stock Report
Publication Date: September 22, 2024
Company Overview
ON Semiconductor Corporation (NASDAQ: ON), based in Scottsdale, Arizona, operates within the semiconductor sector of the technology industry. Established in 1992, the company specializes in providing intelligent sensing and power solutions globally, with key operational segments including the Power Solutions Group, Advanced Solutions Group, and Intelligent Sensing Group. ON Semiconductor plays a crucial role in the electrification of the automotive sector, focusing on advancements in electric vehicles, fast-charging systems, and sustainable energy technologies. Its extensive portfolio of semiconductor products caters to various applications, from power switching to signal conditioning, serving a diverse range of industries such as automotive, industrial, computing, and mobile markets.
Investment Insights
The semiconductor industry is currently experiencing an upward trend, evidenced by a strong buy recommendation for ON Semiconductor. The current stock price stands at $69.57, with analysts projecting a target high price of $106.00, representing an upside potential of approximately 52.3%. Encouragingly, the company has reported impressive total revenue of about $7.8 billion, bolstering its market position. Although the short interest indicates some market hesitation—with 8.38% of shares sold short—most investors remain optimistic, holding long positions. The mean target price from analysts is set at $86.49, reflecting a generally positive outlook for short to medium-term performance.
Stock Performance
Recent analysis highlights that ON Semiconductor’s stock recently traded below its fifty-day moving average of $72.83, signaling a short-term bearish trend. Over the past year, the stock has exhibited significant volatility, reaching a high of $95.67 and a low of $59.34. The current trading price is closer to the 52-week low, which may prompt caution for prospective investors. However, the favorable recommendation key, with a mean score of 2.5 from 25 analysts, supports the sentiment that ON Semiconductor is poised for recovery and growth, making it an appealing consideration for investors navigating through market conditions and the broader advancements in technology.
| Metric | Value |
|---|---|
| Market Cap | $29.8b |
| Total Debt | $3.6b |
| Total Cash | $2.7b |
| Shares Outstanding | 428.4m |
| Float Shares | 426.5m |
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