Checking the Overall Picture for ON Semiconductor Corporation (ON)

ON Semiconductor Corporation (ON) is an interesting player in the Technology space, with a focus on Semiconductor – Broad Line. The stock has been active on the tape, currently trading at $26.02, down from yesterday’s close by -2.91%. Given the stock’s recent action, it seemed like a good time to take a closer look at the company’s recent data.

Fundamental Analysis

ON Semiconductor Corporation (ON) currently trades with a market capitalization of $11.05 Billion. That value represents a market adjusting for revenues that have been growing by 9.24 % on a quarterly year/year basis as of the company’s last quarterly report.

You can get a sense of how sustainable that is by a levered free cash flow of $656 Million over the past twelve months. Generally speaking, earnings are expected to grow in coming quarters. Analysts are forecasting earnings of $0.39 on a per share basis this quarter. Perhaps, that suggests something about why 2.40% of the outstanding share supply is held by institutional investors.

Technical Analysis

We’ve taken a serious look at this stock from a fundamental perspective, but the tale of the tape may offer more hints about what lies under the surface. Looking at the stock’s movement on the chart, ON Semiconductor Corporation recorded a 52-week high of $26.86. It is now trading 0.84% off that level. The stock is trading $23.73 its 50-day moving average by -2.29%. The stock carved out a 52-week low down at $13.65.

In recent action, ON Semiconductor Corporation (ON) has made a move of +21.93% over the past month, which has come on Strong relative transaction volume. Over the trailing year, the stock is underperforming the S&P 500 by 16.68, and it’s gotten there by action that has been more volatile on a day-to-day basis than most other stocks on the exchange. In terms of the mechanics underlying that movement, traders will want to note that the stock is trading on a float of 4.79% with $420.16 Million sitting short, betting on future declines. That suggests something of the likelihood of a short squeeze in shares of ON.

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