ON Semiconductor saw an improvement in its IBD SmartSelect Composite Rating Wednesday, from 94 to 96.
The new score indicates the company is now outperforming 96% of all stocks in terms of the most important fundamental and technical stock-picking criteria. The top-performing stocks tend to have a 95 or better grade as they begin to launch a significant move so be sure to keep that in mind when looking for the best stocks to buy and watch.
ON Semiconductor is currently in a consolidation pattern on MarketSmith daily chart with a $71.35 entry point. On of the few tech stocks that has held up in this current turbulent market.
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The stock earns a 90 EPS Rating, meaning its recent quarterly and annual earnings growth tops 90% of all stocks.
Its Accumulation/Distribution Rating of B- shows moderate buying by institutional investors over the last 13 weeks.
The company reported a 211% increase in earnings for Q4. Sales growth came in at 28%, down from 32% in the prior quarter.
ON Semiconductor stock earns the No. 1 rank among its peers in the Electronics-Semiconductor Manufacturing industry group. Tower Semiconductor and Globalfoundries are also among the group's highest-rated stocks.
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