There’s a lot to be optimistic about in the Technology sector as 2 analysts just weighed in on ON Semiconductor (ON) and Akoustis Technologies (AKTS) with bullish sentiments.
ON Semiconductor (ON)
Needham analyst Rajvindra Gill assigned a Buy rating to ON Semiconductor today and set a price target of $30.00. The company’s shares closed last Monday at $24.38, close to its 52-week high of $26.84.
According to TipRanks.com, Gill is a 4-star analyst with an average return of 2.5% and a 53.6% success rate. Gill covers the Technology sector, focusing on stocks such as Sequans Communications S A, Everspin Technologies, and Smart Global Holdings.
Currently, the analyst consensus on ON Semiconductor is a Moderate Buy with an average price target of $27.58, implying a 13.5% upside from current levels. In a report issued on October 26, B.Riley Financial also maintained a Buy rating on the stock with a $32.00 price target.
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Akoustis Technologies (AKTS)
Oppenheimer analyst Rick Schafer assigned a Buy rating to Akoustis Technologies today and set a price target of $10.00. The company’s shares closed last Monday at $8.18.
According to TipRanks.com, Schafer is a top 100 analyst with an average return of 18.0% and a 75.9% success rate. Schafer covers the Technology sector, focusing on stocks such as Advanced Micro Devices, Skyworks Solutions, and NXP Semiconductors.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Akoustis Technologies with a $11.00 average price target.
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