ON Semiconductor Corp. (NASDAQ: ON) had its Hold rating reiterated by equities researchers at JPMorgan Chase & Co. in a research note to investors. With a rating of Hold on the shares, ON Semiconductor Corp. has a 52-week high of $12.00. As a means of comparison, a number of other analysts have commented on the stock recently, and ON Semiconductor Corp. has earned a consensus one-year price target of $12.74, higher than the opening price of $11.74, a difference of 11.00 percent. Typically, after analysts issue a “reiterated rating” report on a stock, they will subsequently issue recurring revisions, often followed by a price target change.
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 jump of $0.06 compared to 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 crossed the trading desk yesterday, 22 percent higher than the norm, out of a total float 408,810,000. Significant expansions in trading volume and price appreciation together could indicate excessive volume accumulation by institutional investors.
However, just a day of heavy buy side trading is not enough to determine a trend. So market traders will continue to look for institutional sponsorship as a cue that financial institutions are moving forward.
Institutional sponsorship just refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Professional investors such as these retain substantial teams of analysts researching thousands of stocks. Thus, watching their interests is a good way to make sure you are buying the right stocks.
By identifying trends, moving averages allow investors to make those trends work in their favor and increase the number of successful trades.
Trades for ON Semiconductor Corp. (NASDAQ: ON) have ranged from $6.97 – 12.00, and the stock now has a 50-day MA of $10.55 and 200-day MA of $9.73. Today’s last price is 0.04% lower than the 52 week high of $12.00.
Earnings growth is a critical 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.
DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of the website. Readers should not consider statements made by the author as formal recommendations and should consult their financial adviser before making any investment decisions. To read our full disclosure, please see our terms and conditions page.