Can Market Sentiment Sustain ON's Price Surge Today?

ON Semiconductor stock is trading -13.86% below its average target price of $86.12 after marking a 4.0% during today's afternoon session. Analysts are giving the large-cap Semiconductors company an average rating of buy and target prices ranging from $60.0 to $110.0 per share.

The stock has an above average percentage of its shares sold short at 8.3%, and a short ratio of 2.32. The company's insiders own 0.28% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. Finally, we also note that a significant number of institutional investors are invested in the stock, with 104.2% of ON Semiconductor's shares being owned by this investor type.

Institutions Invested in ON Semiconductor

Date Reported Holder Percentage Shares Value
2023-09-30 FMR, LLC 13% 56,501,448 $4,191,277,429
2023-09-30 Vanguard Group Inc 12% 50,019,684 $3,710,460,174
2023-09-30 Blackrock Inc. 9% 40,067,302 $2,972,192,474
2023-09-30 State Street Corporation 4% 17,914,370 $1,328,887,972
2023-09-30 Janus Henderson Group PLC 3% 12,473,876 $925,312,125
2023-09-30 Artisan Partners Limited Partnership 3% 12,375,416 $918,008,362
2023-09-30 Geode Capital Management, LLC 2% 9,622,605 $713,804,841
2023-09-30 Wellington Management Group, LLP 2% 9,459,576 $701,711,350
2023-09-30 Pictet Asset Management Holding SA 2% 6,774,816 $502,555,852
2023-09-30 Invesco Ltd. 1% 5,812,863 $431,198,179

Besides an analyst consensus of some upside potential, other market factors point to there being mixed market sentiment on ON Semiconductor.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.

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