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Why ON Semiconductor Stock Is Trading Higher

ON Semiconductor Corp (NASDAQ: ON) shares are trading higher by 7.20% to $71.03 during Monday's session after Truist Securities maintained a Buy rating on the stock and raised its price target from $72 to $83. What Else?
byHenry Khederian
January 23, 2023
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ON Semiconductor Corp (NASDAQ:ON) shares are trading higher by 7.20% to $71.03 during Monday’s session after Truist Securities maintained a Buy rating on the stock and raised its price target from $72 to $83.

What Else?

ON Semiconductor shares are potentially trading higher in sympathy with major indices amid strength in tech stocks. Additionally, Barclays upgraded its ratings on multiple semiconductor stocks. Elliott Management reportedly took a multi-billion dollar stake in Salesforce, lifting market sentiment.

See Also: Why Roku Shares Are Moving Following Netflix’s Earnings Report

According to data from Benzinga Pro, ON has a 52-week high of $77.28 and a 52-week low of $44.76.

 
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