ON Semiconductor Unusual Options Activity
Portfolio Pulse from Benzinga Insights
A significant bearish stance has been taken on ON Semiconductor (NASDAQ:ON) by a large investor, as observed in the unusual options activity. The sentiment among these big-money traders is split between 31% bullish and 68% bearish. The whales have been targeting a price range from $60.0 to $100.0 for ON Semiconductor over the last 3 months. The price of ON is currently down -4.78% at $81.02. Exane BNP Paribas downgraded its action to Neutral with a price target of $95, while Susquehanna and Morgan Stanley maintained their Positive and Equal-Weight ratings respectively, both with a price target of $110.
October 25, 2023 | 7:30 pm
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A large investor has taken a bearish stance on ON Semiconductor, with unusual options activity observed. The current price of ON is down -4.78% at $81.02. Analysts have mixed ratings, with a downgrade from Exane BNP Paribas and maintained ratings from Susquehanna and Morgan Stanley.
The bearish stance taken by a large investor, as indicated by the unusual options activity, could potentially drive the stock price down in the short term. The mixed analyst ratings also add uncertainty to the stock's outlook. The current price drop of -4.78% further supports the bearish outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100