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ON Semiconductor Shares Rise Alongside A.I. Rally

Recently the stock surge in potential A.I. related companies has helped. There’s another reason, too – strong appetite for the shares.

ON Semiconductor Stock Attracts Big Money Buyers

So, what’s Big Money? Said simply, that’s when a stock presses higher alongside chunky volumes. It’s indicative of institutions betting on the shares.

Unsurprisingly, ON Semiconductor has many fundamental qualities that are attractive.

This sets up well for the stock going forward. Paying attention to how the shares trade, suggests there could be more upside.

You see, money managers wager on the next outlier stocks…the best in class. They spend countless hours sizing up companies, reading reports, speaking to analysts…you name it. When they find a company firing on all cylinders, they pounce in a big way.

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The YTD action tells the story. Each green bar signals big buying volumes as the stock ramped in price:

Source: www.mapsignals.com
Source: www.mapsignals.com

Since January, the stock attracted constant Big Money buy signals. Recent green bars could mean more upside is ahead.

On Semiconductor Fundamental Analysis

Next, it’s a good idea to check under the hood. Meaning, I want to make sure the fundamental story is strong too. As you can see, ON Semiconductor boasts double-digit sales and earnings growth the past 3 years:

  • 3-year sales growth rate (+15.7%)

  • 3-year EPS growth rate (+137.2%)

Source: FactSet

Marrying great fundamentals with technically superior stocks is a winning recipe over the long-term.

In fact, ON has been a top-rated stock at MAPsignals for years. That means the stock has had buy pressure, strong technicals, and growing fundamentals. We have a ranking process that showcases stocks like this on a weekly basis.

It’s made the rare Top 20 report numerous times since 2017. The blue bars below show when ON was a top pick:

Source: www.mapsignals.com
Source: www.mapsignals.com

Tracking unusual volumes reveals the power of the MAPsignals process.

ON Semiconductor Price Prediction

The ON rally has been in place for years and recently. Big Money buying in the shares is signaling to take notice. Given the historical gains in share price and strong fundamentals, this stock could be worth a spot in a diversified portfolio.

Disclosure: the author holds no positions in ON at the time of publication.

Learn more about the MAPsignals process here.

Contact

https://mapsignals.com/contact/

This article was originally posted on FX Empire

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