The average brokerage recommendation (ABR) for ON Semiconductor Corp. (ON) is equivalent to a Buy. The overly optimistic recommendations of Wall Street analysts make the effectiveness of this highly sought-after metric questionable. So, is it worth buying the stock?
Zacks.com users have recently been watching ON Semiconductor Corp. (ON) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
On August 31, 2024, BlackRock Inc. (Trades, Portfolio) made a significant addition to its investment portfolio by acquiring 943,438 shares of ON Semiconductor Corp (NASDAQ:ON). This transaction increased BlackRock's total holdings in the company to 42,956,619 shares, reflecting a substantial commitment to ON Semiconductor. The shares were purchased at a price of $77.87 each, marking a notable move in the semiconductor industry.