The Latest Breaking News from On

Onsemi is the IBD Stock Of The Day as the chipmaker touched two buy points after its beat-and-raise quarterly report. ON stock rose Tuesday.

Chipmaker Onsemi on Monday beat Wall Street's targets for the second quarter and guided higher for the current period. But ON stock fell.

On Wednesday, shares of ON Semiconductor Corporation (NASDAQ: ON) experienced volatile short activity. After the activity, the stock price went down -1.81% to $51.01.  The overall sentiment for ON has been Bearish.

We put the tennis shoe to the test

ON Semiconductor (NASDAQ:ON) has outperformed the market over the past 5 years by 21.25% on an annualized basis producing an average annual return of 29.98%. Currently, ON Semiconductor has a market capitalization of $24.31 billion.

Futures tumbled, threatening to wipe out Wednesday's market rally in a day two reaction to the biggest Fed rate hike since 1994.

The acceleration in digital transformation across industries has been a significant tailwind for tech companies amid the pandemic. Although the Fed tightening monetary policy has kept the tech sector under pressure, analysts are bullish on its long-term prospects. Thus, we think fundamentally strong tech stocks Fair Isaac (FICO), ON Semiconductor…

The stock market has recently witnessed significant volatility due to macroeconomic and geopolitical headwinds. However, Keurig Dr Pepper (KDP) and ON Semiconductor (ON) are joining the S&P 500 this month, indicating their strong fundamentals and high liquidity. So, it could be wise to add these stocks to your portfolio.

Someone with a lot of money to spend has taken a bullish stance on ON Semiconductor (NASDAQ:ON). And retail traders should know. We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.