ON Semiconductor Corp. (NASDAQ:ON)‘s stock had its “hold” rating reissued by analysts at JPMorgan Chase & Co. in a note issued to investors on Tuesday. They presently have a $13.50 price objective on the stock. JPMorgan Chase & Co.’s target price would indicate a potential upside of 14.60% from the company’s current price.
Several other analysts have also weighed in on the company. B. Riley restated a “buy” rating and issued a $16.00 price objective on shares of ON Semiconductor Corp. in a report on Tuesday. Zacks Investment Research upgraded ON Semiconductor Corp. from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a report on Tuesday, July 12th. Stifel Nicolaus restated a “buy” rating and issued a $11.00 price objective on shares of ON Semiconductor Corp. in a report on Tuesday, May 31st. Jefferies Group upped their price objective on ON Semiconductor Corp. from $10.50 to $13.00 and gave the company a “hold” rating in a report on Tuesday. Finally, Mizuho restated a “buy” rating and issued a $16.00 price objective on shares of ON Semiconductor Corp. in a report on Tuesday, June 14th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and seventeen have issued a buy rating to the stock. ON Semiconductor Corp. has an average rating of “Buy” and a consensus price target of $13.41.
Shares of ON Semiconductor Corp. (NASDAQ:ON) opened at 11.78 on Tuesday. The stock has a market cap of $4.90 billion, a PE ratio of 30.21 and a beta of 1.64. The company’s 50-day moving average price is $10.61 and its 200-day moving average price is $9.75. ON Semiconductor Corp. has a 52-week low of $6.97 and a 52-week high of $12.00.
ON Semiconductor Corp. (NASDAQ:ON) last released its quarterly earnings results on Monday, August 8th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.02. ON Semiconductor Corp. had a return on equity of 20.14% and a net margin of 4.70%. The company earned $877.80 million during the quarter, compared to analysts’ expectations of $854.55 million. During the same quarter in the prior year, the business posted $0.22 earnings per share. The company’s revenue for the quarter was down .3% compared to the same quarter last year. Analysts expect that ON Semiconductor Corp. will post $0.85 earnings per share for the current year.
In other news, VP Paul E. Rolls sold 15,000 shares of the stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $11.25, for a total transaction of $168,750.00. Following the transaction, the vice president now owns 277,202 shares of the company’s stock, valued at approximately $3,118,522.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.60% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Capital International Investors raised its position in shares of ON Semiconductor Corp. by 88.6% in the second quarter. Capital International Investors now owns 21,106,509 shares of the company’s stock worth $186,159,000 after buying an additional 9,913,421 shares in the last quarter. Norges Bank acquired a new stake in shares of ON Semiconductor Corp. during the fourth quarter valued at $39,331,000. Westfield Capital Management Co. LP increased its stake in shares of ON Semiconductor Corp. by 73.5% in the second quarter. Westfield Capital Management Co. LP now owns 7,253,093 shares of the company’s stock valued at $63,972,000 after buying an additional 3,071,808 shares during the last quarter. Jericho Capital Asset Management L.P. acquired a new stake in shares of ON Semiconductor Corp. during the first quarter valued at $20,484,000. Finally, Prudential Financial Inc. increased its stake in shares of ON Semiconductor Corp. by 1,713.4% in the first quarter. Prudential Financial Inc. now owns 1,426,694 shares of the company’s stock valued at $13,682,000 after buying an additional 1,348,020 shares during the last quarter. 94.67% of the stock is currently owned by institutional investors and hedge funds.
ON Semiconductor Corp. Company Profile
ON Semiconductor Corporation offers a portfolio of analog, digital and mixed signal integrated circuits (ICs), standard products, image sensors and custom devices for customers to solve their design challenges in advanced electronic systems and products. The Company operates through four segments: Application Products Group, Image Sensor Group, Standard Products Group, and System Solutions Group.
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