The data from SimplyWall St., a site that offers financial data and analysis, shows that ON Semiconductor has seen an increase in its earnings at an average annual rate of 27.3%, while the earnings for the Semiconductor industry has been growing at 34.6% annually. The company has also been boosting its revenues at an average rate of 8.4% per year. Its return on equity is 28.4%, and its net margins are 22%.
ON Semiconductor’s debt-to-equity ratio is 53.6%, which means its total debt of $3.5 Billion is lower than its total shareholder equity of $6.5 Billion, as shown by the data from SimplyWall St., a site that offers financial data and analysis. The company has $12.3 Billion in total assets and $5.8 Billion in total liabilities. Its interest coverage ratio is 40.7, based on its EBIT of $2.8 Billion. It has $2.7 Billion in cash and short-term investments.
The market capitalization of ON stock is $42.652 Billion and the total revenue is $8.33 Billion. Moreover, the stock’s basic EPS is $4.24 and the price-to-earnings ratio is 23.75. Moreover, the average volume is 19.758K and the current volume is 98.908K, the current volume is above average volume.
Moreover, the stock has done well this month, increasing by 11.25% and it has surged by 52.69% in the last six months. ON Semiconductor Corporation (NASDAQ: ON) stock has a positive year-to-date return of 54.43% and a 1-year return of 64.60%.
Technical Analysis of ON Stock Price in 1-D Time Frame
The price action shows that ON Semiconductor Corporation stock ( NASDAQ: ON) price dropped by 23% from $87 to $67 in two months, reaching the demand zone. However, ON stock price bounced back from the $67 level by April 27th and rose by 57% to $105, where it met strong resistance.
Thereafter, the ON price, then took a pullback and reached the support on the trendline. The ON stock price is currently trading at $98.76.
Moreover, on the daily chart, the ON stock price seems to be forming a rising wedge pattern, which is a bearish reversal pattern. This suggests that the ON price may decline in the long term and hit the nearest support levels at $86.82 and $75.40.
On the other hand, if the ON price maintains the current level, it may rise to the resistance levels at $104.55 and $114.36.
At the time of publishing, ON Semiconductor Corporation stock (NASDAQ: ON) Price is trading slightly above the 20, 50, 100, and 200-day EMAs, which are barely supporting the price trend. This indicates that the price may decline as soon as it breaks the trendline and crosses below the EMAs one by one, giving bearish signals on the daily chart.
However, as long as the price stays above the EMAs and the trendline, it may find support and resume the uptrend.
The current value of RSI is 56.42 points. The 14 SMA is above the median line at 63.67 points which indicates that the price is bearish as the RSI line took rejection from the 14 SMA line.
The MACD line at 3.28 and signal line at 3.31 are below the zero line and a bearish crossover was observed in the MACD oscillator which signals more bearishness for the ON share price.
Summary
ON Semiconductor Corporation. (NASDAQ: ON) shows that the investors and traders of the stock are bearish on the 1-D time frame. The price action shows a bearish outlook at the time of publishing. The technical parameters of the ON Semiconductor Corporation stock price also support the bearish trend. The major indicators MACD, RSI, and EMAs are giving negative signals and imply that the downtrend may continue in ON stock price.
Technical Levels
- The nearest support levels: $86.82 and $75.40.
- The nearest resistance levels: $104.55 and $114.36.
Disclaimer
In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
Source: https://www.thecoinrepublic.com/2023/07/22/on-stock-price-prediction-is-on-semiconductor-at-its-limit/