On Oct 29, major Wall Street analysts update their ratings for $ON Semiconductor (ON.US)$, with price targets ranging from $64 to $100.
Morgan Stanley analyst Joseph Moore maintains with a sell rating, and adjusts the target price from $63 to $64.
BofA Securities analyst Vivek Arya maintains with a buy rating, and sets the target price at $90.
Citi analyst Christopher Danely maintains with a hold rating, and maintains the target price at $77.
Jefferies analyst Blayne Curtis maintains with a buy rating, and maintains the target price at $100.
TD Cowen analyst Joshua Buchalter maintains with a buy rating, and maintains the target price at $85.
Furthermore, according to the comprehensive report, the opinions of $ON Semiconductor (ON.US)$'s main analysts recently are as follows:
An analyst noted that despite a cautious outlook on the auto semiconductor sector, a shift in OEM inventory strategy and its consequential effects on semiconductor suppliers may take time to materialize. Additionally, it was mentioned that On Semiconductor forecasted a seasonal decline for the March quarter and discussed potential reduced utilization in the December quarter, along with weaker than expected sell-through at some OEMs.
It's noted that capital expenditures are anticipated to decrease in the upcoming year, which is a common occurrence before the bottoming out of a cycle. This trend is indicative of both surplus capacity and subdued demand. The focal point of concern continues to be the trajectory of the impending recovery and how elevated customer inventories may influence utilization rates.
Here are the latest investment ratings and price targets for $ON Semiconductor (ON.US)$ from 11 analysts:
Note:
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