BMO starts ON Semi at $20 target

|About: ON Semiconductor Corporation (ON)|By:, SA News Editor

BMO initiates ON Semiconductor (NASDAQ:ON) with a Market Perform rating and a $20 price target.

ON reported Q3 beats and upside revenue guidance late last month. Shares took a hit today as Apple suppliers slid following Lumentum’s guidance cut. 

ON shares closed today down 5.9% to $16.83.       

Previously: Apple suppliers drop on Lumentum guide, iPhone target cuts (Nov. 12)

Previously: ON Semiconductor +11% on Q3 beats, upside revenue guide (Oct. 29)

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