ON Semiconductor Corporation (ON - Free Report) was a big mover last session, as the company saw its shares rise nearly 7% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This stock, which remained volatile and traded within the range of $19.82–$25.62 in the past one-month time frame, witnessed a sharp increase yesterday.
The company has seen eight negative estimate revisions in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved lower over the past few weeks, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.
ON Semiconductor currently has a Zacks Rank #5 (Strong Sell) while its Earnings ESP is 0.00%.
Investors interested in the Semiconductor - Analog and Mixed industry may consider a better-ranked stock like Inphi Corporation (IPHI - Free Report) , which sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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