ON Semiconductor Corp. Sets New 1-Year High at $8.75 (ONNN)
Shares of ON Semiconductor Corp. (NASDAQ:ONNN) hit a new 52-week high during mid-day trading on Monday, Stock Ratings Network reports. The stock traded as high as $8.75 and last traded at $8.63, with a volume of 7,412,268 shares trading hands. The stock had previously closed at $8.61.
ONNN has been the subject of a number of recent research reports. Analysts at FBR Capital Markets raised their price target on shares of ON Semiconductor Corp. from $8.50 to $10.50 in a research note to investors on Monday. They now have an “outperform” rating on the stock. Separately, analysts at Goldman Sachs Group Inc. downgraded shares of ON Semiconductor Corp. from a “buy” rating to a “neutral” rating in a research note to investors on Thursday, January 2nd. Finally, analysts at MKM Partners downgraded shares of ON Semiconductor Corp. from a “buy” rating to a “neutral” rating in a research note to investors on Monday, November 18th. They now have a $8.00 price target on the stock, down previously from $10.00. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. ON Semiconductor Corp. currently has a consensus rating of “Hold” and a consensus target price of $8.75.
In other ON Semiconductor Corp. news, SVP George Cave unloaded 10,000 shares of ON Semiconductor Corp. stock on the open market in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $8.50, for a total transaction of $85,000.00. Following the sale, the senior vice president now directly owns 241,191 shares in the company, valued at approximately $2,050,124. The sale was disclosed in a document filed with the SEC, which is available at this link.
ON Semiconductor Corp. has a 52-week low of $6.80 and a 52-week high of $8.73. The stock’s 50-day moving average is $7.71 and its 200-day moving average is $7.53. The company’s market cap is $3.838 billion.
ON Semiconductor Corp. (NASDAQ:ONNN) last announced its earnings results on Thursday, October 31st. The company reported $0.17 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.16 by $0.01. The company had revenue of $715.40 million for the quarter, compared to the consensus estimate of $716.32 million. During the same quarter in the prior year, the company posted $0.12 earnings per share. The company’s quarterly revenue was down 1.4% on a year-over-year basis. On average, analysts predict that ON Semiconductor Corp. will post $0.53 earnings per share for the current fiscal year.
ON Semiconductor Corporation (NASDAQ:ONNN) designs, manufactures and markets a portfolio of semiconductor components that address the design needs of electronic systems and products.
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