ON Semiconductor Unusual Options Activity For July 17
Portfolio Pulse from Benzinga Insights
A significant bearish stance has been taken on ON Semiconductor (NASDAQ:ON) by a large investor, as indicated by unusual options activity. The overall sentiment of these big-money traders is split between 40% bullish and 60% bearish. The whales have been targeting a price range from $75.0 to $120.0 for ON Semiconductor over the last 3 months. Benchmark has downgraded its action to Buy with a price target of $110, while Keybanc maintains their Overweight rating with a price target of $110.
July 17, 2023 | 3:31 pm
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Unusual options activity indicates a bearish stance on ON Semiconductor. Benchmark downgrades to Buy with a price target of $110.
The unusual options activity, with a majority being bearish, indicates that large investors are expecting a potential downturn for ON Semiconductor. This, coupled with the downgrade by Benchmark, could negatively impact the stock price in the short term.
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