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Is ON Semiconductor the Ideal Stock to Watch Post 3% Rise?

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Written by Timothy Sykes Reviewed by Jack Kellogg Fact-checked by Ellis Hobbs

ON Semiconductor Corporation’s stock is experiencing positive momentum, partly due to strong quarterly earnings and increased demand for electric vehicle components. On Wednesday, ON Semiconductor Corporation’s stocks have been trading up by 4.48 percent.

Recent Price Target Adjustments

  • KeyBanc has reduced its price target for ON Semiconductor from $95 to $90 due to weaker demand but remains hopeful about the automotive sector’s recovery.

Candlestick Chart

Live Update at 08:52:31 EST: On Wednesday, October 23, 2024 ON Semiconductor Corporation stock [NASDAQ: ON] is trending up by 4.48%! Discover the key drivers behind this movement as well as our expert analysis in the detailed breakdown below.

  • TD Cowen modified ON’s price target, bringing it down to $85 from $90, yet still advises a Buy, noting outperforming attributes and varied analyst targets of $60 to $106.

  • Mizuho also adjusted ON’s target price to $85 but retains its positive stance, with previous analyst targets ranging from $55 to $106.

Quick Look at Revenue and Profits

ON Semiconductor has been busy. In its latest quarterly report, the company brought in a hefty revenue of over $8.2 billion. That’s a lot of cash! Yet, ON’s stock price and performance got analysts talking, especially during these times when tech giants are influencing almost every corner of our daily lives. With key metrics, like an EBIT margin near 30% and a gross margin sitting at 46.3%, ON is standing tall.

A big chunk of ON’s business is tied to making semiconductors, and these little chips are essential for modern cars, smart gizmos, and even big city infrastructures. With a price-to-earnings ratio of 14.72, the company’s stock seems attractive and underscores its growth prospects in future tech trends. Its debt-to-equity ratio of 0.4 suggests a solid balance sheet, depicting ON’s ability to manage its financial commitments effectively while still focusing on innovation and expansion.

The balance sheet reveals insights into ON’s internal machinery: a whopping $13.66 billion in total assets matched by liabilities tallying $5.3 billion. Notably, the stockholders’ equity stands proud at over $8 billion, pointing out ON’s firm financial footing and room to keep dreaming big and staying competitive.

Intraday Price Movement and Stock Overview

When we peek at ON’s intraday performance over the past few days, we notice a bit of a roller-coaster ride. The stock opened at $69.36 on Oct 23, climbed to a high of $69.68, and finally settled at $69.52 by the end of the day. But what’s this roller coaster without a few exciting dips and rises—trading was dynamic within a defined range, largely driven by fluctuations in demand and investor sentiment.

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These fluctuations mimic waves rippling through the market, echoing deeper sentiments both within the company and in the wider semiconductor industry. The steady trend we’ve noticed indicates resilience and an adaptive approach to market shifts, which are critical when investors evaluate potential investments.

Behind the Headlines: Market Predictions & Analysts’ Views

Analysts have been playing around with their calculators, coming up with varied predictions about ON’s future prices. Futuristic eyeballs stay glued to trends and patterns. With ON Semiconductor being a top discussion topic, analysts from KeyBanc, TD Cowen, and others have been adjusting their price expectations lately. This signifies a trickle of anticipation about what’s to come for ON as new tech waves unfold.

The contrasting views on where ON’s stock is headed points to ambiguity and excitement, much like trying to predict the weather on a cloudy day. While some forecasts suggest a downturn, others boldly advocate for an upward drift, supported by consistent performance and emerging sector trends.

Conclusion: Taking Stock of ON’s Journey Ahead

ON Semiconductor’s road is marked by adaptability and anticipation. While experts continue to re-evaluate their standings based on the current data, the company’s inherent stability combined with its game-changing tech solutions sets a hopeful tone. It’s like watching a suspense film where the plot thickens, promising a thrilling end, capturing every investor’s attention with elements of surprise around every corner.

For those keeping fingers on the pulse of market movements, ON Semiconductor stands not just as a participant but a catalyst within its sector. Whether its stock price grinds upwards or faces a slight dip, followers can bank on its ability to retain relevance, driven by tech advancements and strategic foresight amid the swirling market currents.

The market remains lively, bursting with activity, and traders keep watchful eyes as new forces play their roles in determining ON Semiconductor’s bright future. The stock’s intricate path amid tech advancements, detailed evaluations, and upcoming innovations will continue to make it a topic of engaging discussion for time to come.

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Timothy Sykes

Tim Sykes is a penny stock trader and teacher who became a self-made millionaire by the age of 22 by trading $12,415 of bar mitzvah money. After becoming disenchanted with the hedge fund world, he established the Tim Sykes Trading Challenge to teach aspiring traders how to follow his trading strategies. He’s been featured in a variety of media outlets including CNN, Larry King, Steve Harvey, Forbes, Men’s Journal, and more. He’s also an active philanthropist and environmental activist, a co-founder of Karmagawa, and has donated millions of dollars to charity. Read More

* Results are not typical and will vary from person to person. Making money trading stocks takes time, dedication, and hard work. There are inherent risks involved with investing in the stock market, including the loss of your investment. Past performance in the market is not indicative of future results. Any investment is at your own risk. See Terms of Service here

The available research on day trading suggests that most active traders lose money. Fees and overtrading are major contributors to these losses.

A 2000 study called “Trading is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors” evaluated 66,465 U.S. households that held stocks from 1991 to 1996. The households that traded most averaged an 11.4% annual return during a period where the overall market gained 17.9%. These lower returns were attributed to overconfidence.

A 2014 paper (revised 2019) titled “Learning Fast or Slow?” analyzed the complete transaction history of the Taiwan Stock Exchange between 1992 and 2006. It looked at the ongoing performance of day traders in this sample, and found that 97% of day traders can expect to lose money from trading, and more than 90% of all day trading volume can be traced to investors who predictably lose money. Additionally, it tied the behavior of gamblers and drivers who get more speeding tickets to overtrading, and cited studies showing that legalized gambling has an inverse effect on trading volume.

A 2019 research study (revised 2020) called “Day Trading for a Living?” observed 19,646 Brazilian futures contract traders who started day trading from 2013 to 2015, and recorded two years of their trading activity. The study authors found that 97% of traders with more than 300 days actively trading lost money, and only 1.1% earned more than the Brazilian minimum wage ($16 USD per day). They hypothesized that the greater returns shown in previous studies did not differentiate between frequent day traders and those who traded rarely, and that more frequent trading activity decreases the chance of profitability.

These studies show the wide variance of the available data on day trading profitability. One thing that seems clear from the research is that most day traders lose money .

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Citations for Disclaimer

Barber, Brad M. and Odean, Terrance, Trading is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors. Available at SSRN: “Day Trading for a Living?”

Barber, Brad M. and Lee, Yi-Tsung and Liu, Yu-Jane and Odean, Terrance and Zhang, Ke, Learning Fast or Slow? (May 28, 2019). Forthcoming: Review of Asset Pricing Studies, Available at SSRN: “https://ssrn.com/abstract=2535636”

Chague, Fernando and De-Losso, Rodrigo and Giovannetti, Bruno, Day Trading for a Living? (June 11, 2020). Available at SSRN: “https://ssrn.com/abstract=3423101”