In yesterday’s Wall Street session, ON Semiconductor Corp. (NASDAQ:ON) shares traded at $73.35, up 3.84% from the previous session.
ON stock price is now 0.50% away from the 50-day moving average and -0.79% away from the 200-day moving average. The market capitalization of the company currently stands at $31.42B.
Top 5 Artificial Intelligence Stocks to Buy for 2024
By now, you're well aware of the artificial intelligence boom. You know Big Tech has been investing billions of dollars into it.
According to Next Move Strategy Consulting, the AI market – currently valued at about $100 billion – cold grow twenty-fold by 2030 to more than $2 trillion. That means you may want to strongly consider these top AI stocks. Get our free report, "Top 5 AI Stocks to Buy in 2024."
Click here to automatically get the our FREE Report & Special Offer "5 Best AI Stocks to Invest In"
Sponsored
With the price target enhanced from $85 to $90, TD Cowen maintained Buy rating for ON Semiconductor Corp. (NASDAQ: ON). On July 15, 2024, Citigroup Downgraded its previous ‘Buy’ rating to ‘Neutral’ on the stock reducing its target price from $85 to quote $77, while ‘Morgan Stanley’ rates the stock as ‘Underweight’
In other news, El-Khoury Hassane, CEO & President sold 1,500 shares of the company’s stock on Sep 16 ’24. The stock was sold for $106,200 at an average price of $70.80. Upon completion of the transaction, the CEO & President now directly owns 840,620 shares in the company, valued at $61.66 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 16 ’24, Director EL-KHOURY LIVING TRUST U/T/A D bought 4,500 shares of the business’s stock. A total of $322,740 was incurred on buying the stock at an average price of $71.72. A total of 0.55% of the company’s stock is owned by insiders.
During the past 12 months, ON Semiconductor Corp. has had a low of $59.34 and a high of $95.69. As of last week, the company has a debt-to-equity ratio of 0.44, a current ratio of 3.01, and a quick ratio of 1.95. According to the stock market information, the enterprise value for the company is $32402221056, which is based on a 16.70 price-to-earnings ratio, a 2.08 price-to-earnings-growth ratio, and a beta of 1.67. The fifty day moving average price for ON is $72.9224 and a two-hundred day moving average price translates $73.9305 for the stock.
The latest earnings results from ON Semiconductor Corp. (NASDAQ: ON) was released for 2024-06-28. The net profit margin was 24.84% and return on equity was 25.28% for ON. The company reported revenue of $1.74 billion for the quarter, compared to $2.09 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -17.15 percent.
