ON Semiconductor slips after Rosenblatt downgrades with Q2 results waiting
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ON Semiconductor (NASDAQ:ON) shares fell more than 2.3% on Monday as investment firm Rosenblatt Securities downgraded the semiconductor company, citing worries over automotive demand.
Analyst Kevin Cassidy lowered his rating on ON Semiconductor (ON) shares to neutral from buy and instituted a per-share price target of $95 in conjunction with the downgrade.

The company will host a conference call at 9 a.m. EST on July 31 to discuss its second-quarter results.
A consensus of analysts estimate that ON Semiconductor (ON) will earn $1.21 per share on $2.02B in revenue this quarter.
Analysts are supremely bullish on ON Semiconductor (ON). It has a BUY rating from Seeking Alpha authors, while Wall Street analysts rate it a BUY. Conversely, Seeking Alpha's quant system, which consistently beats the market, rates ON a STRONG BUY.

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