|Bid||0.00 x 1800|
|Ask||42.25 x 800|
|Day's Range||41.02 - 42.38|
|52 Week Range||8.17 - 42.38|
|Beta (5Y Monthly)||1.96|
|PE Ratio (TTM)||75.48|
|Earnings Date||May 10, 2021 - May 14, 2021|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||41.28|
ON Semiconductor Corp (NASDAQ: ON) faces improving restructuring and autos tailwinds, according to BofA Securities. The ON Semiconductor Analyst: Vivek Arya upgraded ON Semiconductor from Underperform to Buy, while raising the price target from $32 to $48. The ON Semiconductor Thesis: The company’s new CEO and CFO could leverage their past turnaround experience to exit unprofitable areas, drive “a more asset-lite model” and achieve margin expansion, Arya said in the upgrade note. “We are late to recognizing ON’s turnaround potential, but we still see potential for another 20%+ stock upside as management makes the case for turnaround at their upcoming Aug. 5 analyst day,” he added. The analyst further mentioned that although it could take three to four quarters for ON Semiconductor’s restructuring efforts to “bear fruit,” there is potential for the company to: Exit “low-margin consumer, industrial and communications products” “Raise prices strategically” Lower its capital expenditure towards 6%, in-line with its peers Use lower cost 300mm fabs ON Price Action: Shares of ON Semiconductor had risen by 2.88% to $41.43 at the time of publication Monday. (Photo: ON Semiconductor) Latest Ratings for ON DateFirmActionFromTo Feb 2021Truist SecuritiesMaintainsBuy Feb 2021MizuhoMaintainsBuy Feb 2021Deutsche BankMaintainsBuy View More Analyst Ratings for ON View the Latest Analyst Ratings See more from BenzingaClick here for options trades from BenzingaMorgan Stanley Upgrades Carvana As It Targets New Markets, Nearly Doubles Price TargetWhat's In Store for L Brands With Morgan Stanley Upgrade?© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
ON Semiconductor (Nasdaq: ON), driving energy-efficient innovations, has been recognized by Ethisphere, a global leader in defining and advancing the standards of ethical business practices, as one of the 2021 World’s Most Ethical Companies. This is the sixth consecutive year ON Semiconductor has received the honor and is one of only three honorees in the semiconductor industry.
A few technical signs are emerging that a correction could be coming in shares of the semiconductor producer.