ON Semiconductor (ON): New Buy Recommendation for This Technology Giant
Jefferies analyst Blayne Curtis maintained a Buy rating on ON Semiconductor yesterday and set a price target of $115.00. The company’s shares closed yesterday at $80.40.
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According to TipRanks, Curtis is a top 100 analyst with an average return of 36.2% and a 65.98% success rate. Curtis covers the Technology sector, focusing on stocks such as Advanced Micro Devices, Applied Materials, and Broadcom.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for ON Semiconductor with a $109.21 average price target, a 35.83% upside from current levels. In a report released yesterday, Mizuho Securities also maintained a Buy rating on the stock with a $110.00 price target.
Based on ON Semiconductor’s latest earnings release for the quarter ending April 3, the company reported a quarterly revenue of $1.51 billion and a GAAP net loss of $33.4 million. In comparison, last year the company earned a revenue of $1.45 billion and had a GAAP net loss of $486.1 million
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- ON Semi: Price Target Raised to $108 as Margin Tailwinds Offset by Competitive Pressures, Justifying Hold Rating
- Closing Bell Movers: Palantir surges after quarterly report
- On Semi sees Q3 non-GAAP EPS 81c-93c, consensus 84c
- On Semi reports Q2 non-GAAP EPS 74c, consensus 72c
- ON Semiconductor options imply 9.4% move in share price post-earnings
