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Fly News Breaks for March 28, 2019
ON, QTNA
Mar 28, 2019 | 07:12 EDT
Stifel analyst Tore Svanberg downgraded Quantenna Communications (QTNA) to Hold from Buy and removed the stock from the firm's Select List after the news of the agreement for the company to be acquired by ON Semiconductor (ON) for $24.50 per share in cash. He believes this deal represents fair value for Quantenna shareholders and expects approval to be relatively straightforward, Svanberg noted.
News For QTNA;ON From the Last 2 Days
ON
Apr 16, 2024 | 09:48 EDT
ON
Apr 15, 2024 | 16:16 EDT
Evercore ISI initiated coverage of ON Semiconductor with an Outperform rating and $104 price target. The firm calls ON a "Tectonic Shift play" as a key supplier into the emerging IoT market, which the firm expects to grow to tens of billions of units. The firm believes ON will remain a market leader in high-growth silicon carbide and will generate robust free cash flow while expanding its operating margins by 1,300 basis points over the next five years, the analyst tells investors.
