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ON Semiconductor (ON) Receives a Rating Update from a Top Analyst

Tipranks - Tipranks - Thu Aug 6, 4:22AM CDT

In a report released yesterday, Kevin Cassidy from Rosenblatt Securities maintained a Hold rating on ON Semiconductor, with a price target of $85.00. The company’s shares closed yesterday at $80.78.

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Cassidy covers the Technology sector, focusing on stocks such as Advanced Micro Devices, Marvell, and Penguin Solutions. According to TipRanks, Cassidy has an average return of 41.2% and a 61.65% success rate on recommended stocks.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for ON Semiconductor with a $109.94 average price target, implying a 36.10% upside from current levels. In a report released yesterday, Barclays also maintained a Hold rating on the stock with a $100.00 price target.

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Based on ON Semiconductor’s latest earnings release for the quarter ending July 3, the company reported a quarterly revenue of $1.6 billion and a net profit of $226.8 million. In comparison, last year the company earned a revenue of $1.47 billion and had a net profit of $170.3 million

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