Whales with a lot of money to spend have taken a noticeably bullish stance on ON Semiconductor.

Looking at options history for ON Semiconductor we detected 8 trades.

If we consider the specifics of each trade, it is accurate to state that 37% of the investors opened trades with bullish expectations and 25% with bearish.

From the overall spotted trades, 4 are puts, for a total amount of $264,636 and 4, calls, for a total amount of $169,560.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $50.0 to $75.0 for ON Semiconductor over the last 3 months.

Volume & Open Interest Trends

In today's trading context, the average open interest for options of ON Semiconductor stands at 1408.0, with a total volume reaching 955.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in ON Semiconductor, situated within the strike price corridor from $50.0 to $75.0, throughout the last 30 days.

ON Semiconductor Option Activity Analysis: Last 30 Days

Noteworthy Options Activity:

About ON Semiconductor

Onsemi is a supplier of power semiconductors and sensors focused on the automotive and industrial markets. Onsemi is the second-largest power chipmaker in the world and the largest supplier of image sensors to the automotive market. While the firm used to be highly vertically integrated, it now pursues a hybrid manufacturing strategy for flexible capacity. Onsemi is pivoting to focus on emerging applications like electric vehicles, autonomous vehicles, industrial automation, and renewable energy.

Current Position of ON Semiconductor

With a volume of 1,863,364, the price of ON is up 1.19% at $56.27.

RSI indicators hint that the underlying stock may be approaching oversold.

Next earnings are expected to be released in 12 days.

What Analysts Are Saying About ON Semiconductor

In the last month, 4 experts released ratings on this stock with an average target price of $71.75.

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* An analyst from Truist Securities has revised its rating downward to Hold, adjusting the price target to $60.

* An analyst from Goldman Sachs has decided to maintain their Buy rating on ON Semiconductor, which currently sits at a price target of $77.

* An analyst from Keybanc persists with their Overweight rating on ON Semiconductor, maintaining a target price of $70.

* An analyst from Wells Fargo has decided to maintain their Overweight rating on ON Semiconductor, which currently sits at a price target of $80.

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