Fidelity Management & Research Co has recently announced that it has increased stake in ON Semiconductor Corp. (NASDAQ:ON) by 0.43%. After grabbing 53.17 million shares, the institutional investor is now in possession of 0.23 million shares of the Technology Company. The new investment brought the stake of investor firm to 12.35% having worth around $3.79 billion. Moreover, Artisan Partners LP increased its share by 15166.0 to have a control over 12.38 million shares. And Geode Capital Management LLC raised its holdings to 0.16 million shares by acquiring 9.62 million shares or 2.23% of the stake.
ON Semiconductor Corp. (ON) concluded trading on 12/27/23 at a closing price of $85.05, with 3.22 million shares of worth about $274.2 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -6.75% during that period and on Wednesday the price saw a loss of about -0.49%. Currently the company’s common shares owned by public are about 431.94M shares, out of which, 428.88M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 34 analysts are covering the ON stock and their offered price forecasts bring an average price target of $86.29. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $110.00 and could fall to a lowest price of $60.00. The stock’s current price level is 1.44% above of average price target set by the analysts, while a rise to estimated low would result in loss of -41.75% for the stock. However, touching the estimated high of $110.00 would mean a gain of 22.68% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 86 times over the past 12 months. They bought 735,586 shares in 32 of the transactions. In 54 selling transactions, insiders dumped 352,552 shares.
Vanguard Total Stock Market ETF, Fidelity Select Port. – Semicondu, and Vanguard 500 Index Fund are the top 3 mutual funds which are holding stakes in ON Semiconductor Corp. Vanguard Total Stock Market ETF is currently holding 13.53 million shares of worth totaling $964.76 million. The company recently came buying 31816.0 shares which brought its stake up to 3.14% of the company’s outstanding shares. Fidelity Select Port. – Semicondu bought 0.94 million shares, after which its hold over company’s outstanding shares expand to 2.47%, leaving 10.62 million shares with the mutual fund that have a worth of about $757.35 million. Vanguard 500 Index Fund, after buying 10.42 million shares, have now control over 2.42% of the stake in the company. It holds 53014.0 shares of worth $743.54 million.
ON Semiconductor Corp. (NASDAQ: ON) started trading at $85.84, above $0.37 from concluding price of the previous day. However, the stock later moved at a day high price of 86.08, or with a loss of -0.49%. Stock saw a price change of 0.37% in past 5 days and over the past one month there was a price change of 23.84%. Year-to-date (YTD), ON shares are showing a performance of 36.36% which increased to 36.32% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $59.61 but also hit the highest price of $111.35 during that period. The average intraday trading volume for ON Semiconductor Corp. shares is 7.18 million. The stock is currently trading 8.31% above its 20-day simple moving average (SMA20), while that difference is up 12.41% for SMA50 and it goes to -0.73% lower than SMA200.
Fidelity Management & Research Co acquired 53.17 million shares of ON Semiconductor Corp. having value of about $3.79 billion. Data submitted at the U.S SEC by Fidelity Management & Research Co revealed that the firm now holds 0.23 million shares in the company valued at close to $19424909.7, or have control over 0.43% stake in the company. ON Semiconductor Corp. (NASDAQ: ON) currently have 431.94M outstanding shares and institutions hold larger chunk of about 97.81% of that. Holding of mutual funds in the company is about 29.83% while other institutional holders and individual stake holders have control over 69.15% and 2.48% of the stake respectively.
The stock has a current market capitalization of $36.63B and its 3Y-monthly beta is at 1.84. PE ratio of stock for trailing 12 months is 17.15, while it has posted earnings per share of $4.96 in the same period. Its PEG reads 3.70 and has Quick Ratio of 1.60 while making debt-to-equity ratio of 0.50. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for ON, volatility over the week remained 2.43% while standing at 2.97% over the month.
Analysts are in expectations that ON Semiconductor Corp. (ON) stock would likely to be making an EPS of $1.2 in the current quarter, while forecast for next quarter EPS is $1.11 and it is $4.79 for next year. For the current quarter EPS, analysts have given the company a lowest target $1.19 which is $1.23 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $1.32 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -4.08% while it is estimated to decrease by -6.91% in next year. EPS is likely to shrink at an annualized rate of 4.63% for next 5-years, compared to annual growth of 17.55% made by the stock over the past 5-years.
Analysts at 34 brokerage firms have issued recommendations for the ON Semiconductor Corp. (ON)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.76. Out of those 34 Wall Street analysts, 20 recommended a “Buy” rating, while 12 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by ROTH MKM on November 14, 2023 offering a Buy rating for the stock and assigned a target price of $75 to it.
