Notable Reporting: Could ON Semiconductor Corp Change Direction After Today’s Significant Increase?

Notable Reporting: Could ON Semiconductor Corp Change Direction After Today's Significant Increase?

The stock of ON Semiconductor Corp (NASDAQ:ON) is a huge mover today! The stock increased 4.71% or $0.56 on November 23, hitting $12.44. About 11.63M shares traded hands or 139.30% up from the average. ON Semiconductor Corp (NASDAQ:ON) has risen 26.55% since April 22, 2016 and is uptrending. It has outperformed by 21.14% the S&P500.
The move comes after 7 months positive chart setup for the $5.37 billion company. It was reported on Nov, 24 by Barchart.com. We have $13.19 PT which if reached, will make NASDAQ:ON worth $322.20 million more.

Analysts await ON Semiconductor Corp (NASDAQ:ON) to report earnings on February, 3. They expect $0.23 earnings per share, up 21.05% or $0.04 from last year’s $0.19 per share. ON’s profit will be $99.28 million for 13.52 P/E if the $0.23 EPS becomes a reality. After $0.23 actual earnings per share reported by ON Semiconductor Corp for the previous quarter, Wall Street now forecasts 0.00% EPS growth.

ON Semiconductor Corp (NASDAQ:ON) Ratings Coverage

Out of 16 analysts covering ON Semiconductor Corp. (NASDAQ:ON), 10 rate it a “Buy”, 0 “Sell”, while 6 “Hold”. This means 63% are positive. ON Semiconductor Corp. has been the topic of 22 analyst reports since August 4, 2015 according to StockzIntelligence Inc. The stock of ON Semiconductor Corp (NASDAQ:ON) has “Outperform” rating given on Friday, October 30 by Wedbush. On Tuesday, September 20 the stock rating was maintained by Stifel Nicolaus with “Buy”. The firm earned “Equal-Weight” rating on Thursday, September 22 by Morgan Stanley. Stephens initiated the stock with “Equal-Weight” rating in Thursday, June 2 report. The firm has “Hold” rating by TheStreet given on Monday, August 17. CLSA initiated ON Semiconductor Corp (NASDAQ:ON) on Wednesday, May 25 with “Outperform” rating. Wedbush maintained the stock with “Outperform” rating in Thursday, January 7 report. Jefferies maintained ON Semiconductor Corp (NASDAQ:ON) rating on Wednesday, August 5. Jefferies has “Hold” rating and $12.50 price target. The rating was maintained by Stifel Nicolaus with “Buy” on Tuesday, February 9. Pacific Crest upgraded ON Semiconductor Corp (NASDAQ:ON) on Monday, June 13 to “Overweight” rating.

According to Zacks Investment Research, “ON SEMICON CORP. is a supplier of broadband and power management integrated circuits and standard semiconductors used in numerous advanced devices ranging from high-speed fiber optic networking equipment to the precise power management functions found in portable electronics. Their products provide clock management and data flow management for precision computing and communications systems, and power management for distributing and monitoring the supply of power to the different elements within virtually every electronic device.”

ON Company Profile

ON Semiconductor Corporation, incorporated on June 22, 2000, offers a portfolio of analog, digital and mixed signal integrated circuits (ICs), standard products, image sensors and custom devices for clients to solve their design challenges in advanced electronic systems and products. The Firm operates through four divisions: Application Products Group, Image Sensor Group, Standard Products Group, and System Solutions Group. The Company’s power management and motor driver semiconductor components control, convert, protect and monitor the supply of power to the different elements within a range of electronic devices. The Company’s custom application specific integrated circuits (ASICs) use analog, digital signal processing (DSP), mixed-signal and advanced logic capabilities for its automotive, medical, military/aerospace, consumer and industrial customers’ products. The Company’s signal management semiconductor components provide clock management and data flow management for precision computing, communications and industrial systems. The Company’s image sensors, optical image stabilization and auto focus devices provide advanced imaging solutions for automotive, wireless, industrial and consumer applications.

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