ON Semiconductor Unusual Options Activity
Portfolio Pulse from Benzinga Insights
A significant bearish stance has been taken on ON Semiconductor (NASDAQ:ON) as observed from unusual options activity. The sentiment among big-money traders is split between 40% bullish and 60% bearish. Whales have been targeting a price range from $88.0 to $100.0 for ON Semiconductor over the last 3 months. The price of ON is currently down -2.84% at $87.05. Morgan Stanley maintains an Equal-Weight rating on ON Semiconductor with a price target of $110, while Exane BNP Paribas downgraded its action to Neutral with a price target of $95.
October 19, 2023 | 8:16 pm
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Unusual options activity indicates a bearish sentiment on ON Semiconductor. The stock price is currently down, and analysts have mixed ratings.
The unusual options activity, with a majority being bearish, indicates that investors are expecting the stock price to decrease. This, combined with the current decrease in stock price and mixed analyst ratings, suggests a negative short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100