Analysts at Credit Suisse Group AG reiterated a Buy rating on shares of ON Semiconductor Corp. (NASDAQ: ON) in a reserach note to investors, making it one of the more closely watched stocks on Wall Street. With a rating of Buy on the shares, the company has a 52-week high of $12.00. As a means of comparison, a number of other analysts have spoken on the stock recently, and ON Semiconductor Corp. has earned a consensus one-year price target of $12.74, above the opening price of $11.74, a difference of 11.00 percent. Stock prices sometimes get a spike to the upside when analysts reiterate coverage.
U.S. stocks closed higher Tuesday as investors anticipate the results of meetings from the Federal Reserve and the Bank of Japan.
The Dow Jones Industrial Average DJIA, +0.05% rose 9.79 points, or less than 0.1%, to close at 18,129.96.
The S&P 500 index SPX, +0.03% advanced 0.64 points to finish at 2,139.76, led by gains in the health-care and consumer-staples sectors.
The Nasdaq Composite index COMP, +0.12% gained 6.33 points, or 0.1%, to close at 5,241.35.
Yesterday ON Semiconductor Corp. (NASDAQ: ON) shares last traded at $11.58, which is a spike of $0.06 over the previous closing price. Opening at $11.74, they fluctuated from $11.54 and $12.00 throughout the day.
ON Semiconductor Corp. (NASDAQ: ON) currently has a market cap of 4.81B.
9,069,871 shares traded hands yesterday, 22 percent above the norm, out of a total float 408,810,000. Heavy volume aggregation by institutional investors may be on the horizon as the combination of significant gains in trading volume and price growth can be determining components.
As with all possible breakouts, investors watch for volume to be at least 40%-50% above normal on the breakout to indicate that fund managers and other professional investors are jumping in.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Professional investors such as these have teams of analysts researching thousands of stocks. Thus, watching their interests is a good way to ensure you are buying the right stocks.
By tracking the activity of these professional investors—and the moving averages they influence—it allows for traders to make more useful choices on trades.
With that in mind, ON Semiconductor Corp. (NASDAQ: ON) now has a 50-day MA of $10.55 and 200-day MA of $9.73. It has traded in a 52-week range between $6.97 – 12.00 and today’s last price is 0.04% lower than the 52 week high of $12.00.
Earnings growth is an important factor to research when buying stocks and investors identify companies that have been successful at growing their earnings at least 25% or more for a 3 year period.
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