Fintel reports that on October 24, 2023, Susquehanna maintained coverage of ON Semiconductor (NASDAQ:ON) with a Positive recommendation.
Analyst Price Forecast Suggests 43.53% Upside
As of October 5, 2023, the average one-year price target for ON Semiconductor is 122.14. The forecasts range from a low of 95.95 to a high of $141.75. The average price target represents an increase of 43.53% from its latest reported closing price of 85.10.
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The projected annual revenue for ON Semiconductor is 8,288MM, a decrease of 0.75%. The projected annual non-GAAP EPS is 4.66.
What is the Fund Sentiment?
There are 1869 funds or institutions reporting positions in ON Semiconductor. This is an increase of 39 owner(s) or 2.13% in the last quarter. Average portfolio weight of all funds dedicated to ON is 0.46%, an increase of 3.70%. Total shares owned by institutions decreased in the last three months by 20.30% to 476,232K shares. 
The put/call ratio of ON is 1.03, indicating a bearish outlook.
What are Other Shareholders Doing?
Janus Henderson Group holds 14,410K shares representing 3.34% ownership of the company. In it's prior filing, the firm reported owning 17,249K shares, representing a decrease of 19.70%. The firm decreased its portfolio allocation in ON by 10.62% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 13,474K shares representing 3.12% ownership of the company. In it's prior filing, the firm reported owning 13,363K shares, representing an increase of 0.82%. The firm increased its portfolio allocation in ON by 6.89% over the last quarter.
Artisan Partners Limited Partnership holds 12,360K shares representing 2.86% ownership of the company. In it's prior filing, the firm reported owning 11,681K shares, representing an increase of 5.49%. The firm increased its portfolio allocation in ON by 18.86% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 10,283K shares representing 2.38% ownership of the company. In it's prior filing, the firm reported owning 10,080K shares, representing an increase of 1.97%. The firm increased its portfolio allocation in ON by 6.16% over the last quarter.
VIMSX - Vanguard Mid-Cap Index Fund Investor Shares holds 10,010K shares representing 2.32% ownership of the company. In it's prior filing, the firm reported owning 10,089K shares, representing a decrease of 0.79%. The firm increased its portfolio allocation in ON by 9.43% over the last quarter.
ON Semiconductor Background Information
(This description is provided by the company.)
ON Semiconductor is driving energy efficient innovations, empowering customers to reduce global energy use. The company is a leading supplier of semiconductor-based solutions, offering a comprehensive portfolio of energy efficient, power management, analog, sensors, logic, timing, connectivity, discrete, SoC and custom devices. The company's products help engineers solve their unique design challenges in automotive, communications, computing, consumer, industrial, medical, aerospace and defense applications. ON Semiconductor operates a responsive, reliable, world-class supply chain and quality program, a robust compliance and ethics program, and a network of manufacturing facilities, sales offices and design centers in key markets throughout North America, Europe and the Asia Pacific regions.
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This story originally appeared on Fintel.
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