ON Semiconductor Sinks After Downgrade

ON Semiconductor Corp ON shares are trading lower by $0.87 (6 percent) at $14.23 in Tuesday's session.

The lightly followed issue is suffering from a downgrade at Credit Suisse. Before the open, the firm downgraded the stock from Outperform to Underperform and lowered their price target from $17.50 to $13.50.

Its lower opening print of $14.70 has turned out to be the high for the session. It has continued to make lows for the session, with the current one standing at $14.12. That low fills a void in price from February 10 and 13, when the stock gapped higher and ran after a better-than-expected Q4 report.

If the decline continues, there may be additional support at the series of five consecutive lows from February 3 to February 9 ranging from $13.73 to $13.93.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: TechnicalsIntraday UpdateMoversTrading Ideas
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!