ON Semiconductor Shares Jump 3.3% to 13-Month High after Q4 EPS Beat
ON Semiconductor’s Q4 adjusted EPS surpassed estimates while revenue fell short as sales in its two largest units slipped year-over-year. Shares surged to a 13-month peak after 10 analysts raised price targets—Morgan Stanley to $64 and Mizuho to $70—and call volume hit a 94th percentile 50-day ratio.
1. Q4 Earnings and Revenue Performance
ON Semiconductor delivered adjusted EPS above consensus for the fourth quarter, though overall revenue missed expectations. The shortfall was driven by declining sales in its two largest business units, highlighting ongoing end-market challenges.
2. Analyst Target Revisions
Following the release, 10 analysts adjusted their price targets on ON Semiconductor. Morgan Stanley raised its target to $64 from $56, while Mizuho trimmed its forecast to $70 from $72, reflecting differing views on the company’s growth trajectory.
3. Stock Price Action and Technical Support
Shares rallied 3.3%, reaching a 13-month high and finding support at the $57.50 level, which had capped rallies in prior months. The stock has climbed over 117% since its early-April four-year low.
4. Options Market Activity
Options traders showed heightened bullish sentiment, with the 50-day call/put volume ratio at 3.02—higher than 94% of readings over the past year. This suggests increased speculative interest in further upside moves.