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The trading price of ON Semiconductor Corporation (NASDAQ:ON) closed lower on Friday, October 08, closing at $44.48, -2.00% lower than its previous close.

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Traders who pay close attention to intraday price movement should know that it fluctuated between $44.421 and $45.76. The company’s P/E ratio in the trailing 12-month period was 36.85, while its 5Y monthly beta was 1.89. In examining the 52-week price action we see that the stock hit a 52-week high of $49.78 and a 52-week low of $23.86. Over the past month, the stock has lost -1.68% in value.

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ON Semiconductor Corporation, whose market valuation is $19.54 billion at the time of this writing, is expected to release its quarterly earnings report Nov 01, 2021 – Nov 05, 2021. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by $0.74 per share this quarter, however they have predicted annual earnings per share of $2.47 for 2021 and $2.74 for 2022. It means analysts are expecting annual earnings per share growth of 190.60% this year and 10.90% next year.

Analysts have forecast the company to bring in revenue of $1.71 billion for the current quarter, with the likely lows of $1.71 billion and highs of $1.75 billion. The average estimate suggests sales will likely up by 30.00% this quarter compared to what was recorded in the comparable quarter last year. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue in 2021 is $6.58 billion. The company’s revenue is forecast to grow by 25.30% over what it did in 2021.

A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of ON Semiconductor Corporation No upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest ON has a 50% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 50% Buy, while an average of long term indicators suggests that the stock is currently 100% Buy.

Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned ON a recommendation rating is 28. Out of them, 6 rate it a Hold, while 17 recommend Buy, whereas 3 assign an Overweight rating. 1 analyst(s) have tagged ON Semiconductor Corporation (ON) as Underweight, while 1 advise Sell. Analysts have rated the stock Overweight, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.

If we dig deeper into the stock’s outlook, we see that the stock’s PEG is 0.72, which symbolizes a positive outlook. A quick review shows that ON’s price is currently -6.07% off the SMA20 and -1.63% off the SMA50. The RSI metric on the 14-day chart is currently showing 42.10, and weekly volatility stands at 2.55%. When measured over the past 30 days, the indicator reaches 2.65%. ON Semiconductor Corporation (NASDAQ:ON)’s beta value is currently sitting at 1.82, while the Average True Range indicator is currently displaying 1.36. With analysts defining $42.00-$63.00 as the low and high price targets, we arrive at a consensus price target of $53.84 for the trailing 12-month period. The current price is about 5.58% off the estimated low and -41.64% off the forecast high, based on this estimate. Investors will be thrilled if ON’s share price rises to $54.00, which is the median consensus price. At that level, ON’s share price would be -21.4% below current price.

To see how ON Semiconductor Corporation stock has been performing in comparison to its peers in the industry, here are the numbers: ON stock’s performance was -2.00% in the latest trading, and 70.81% in the past year, while NVIDIA Corporation (NVDA) has traded -1.16% on the day and positioned 50.53% higher than it was a year ago. Another comparable company Intel Corporation (INTC) saw its stock close -0.68% lower in the most recent trading session but was up 0.82% in a year. Furthermore, Broadcom Inc. (AVGO) showed a decrease of -0.22% on the day while its price kept inclining at 32.01% over the past year. ON Semiconductor Corporation has a P/E ratio of 36.85, compared to NVIDIA Corporation’s 74.42 and Intel Corporation’s 11.97. Also in last trading session, the S&P 500 Index has plunged -0.19%, while the Dow Jones Industrial also saw a negative session, down -0.03% on the day.

An evaluation of the daily trading volume of ON Semiconductor Corporation (NASDAQ:ON) indicates that the 3-month average is 5.61 million. However, this figure has increased over the past 10 days to an average of 4.59 million.

Currently, records show that 427.70 million of the company’s shares remain outstanding. The insiders hold 0.30% of outstanding shares, whereas institutions hold 98.00%. The stats also highlight that short interest as of May 27, 2021, stood at 11.64 million shares, resulting in a short ratio of 1.64 at that time. From this, we can conclude that short interest is 2.73% of the company’s total outstanding shares. It is noteworthy that short shares in May were down slightly from the previous month’s figure, which was 12.5 million. However, since the stock’s price has seen 35.90% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.