ON Semiconductor Corp. (NASDAQ:ON)‘s stock had its “buy” rating reaffirmed by stock analysts at Pacific Crest in a report issued on Thursday. They presently have a $16.00 price target on the stock. Pacific Crest’s price objective points to a potential upside of 30.29% from the stock’s current price.
Several other analysts have also issued reports on ON. B. Riley reiterated a “buy” rating and set a $15.00 price objective on shares of ON Semiconductor Corp. in a report on Sunday, August 14th. 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. Jefferies Group increased their price objective on ON Semiconductor Corp. from $10.50 to $13.00 and gave the stock a “hold” rating in a report on Tuesday, September 20th. Mizuho reiterated a “buy” rating and set a $16.00 price objective on shares of ON Semiconductor Corp. in a report on Tuesday, June 14th. Finally, Deutsche Bank AG assumed coverage on ON Semiconductor Corp. in a report on Tuesday, September 20th. They set a “buy” rating and a $15.00 price objective for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $13.67.
ON Semiconductor Corp. (NASDAQ:ON) opened at 12.28 on Thursday. ON Semiconductor Corp. has a one year low of $6.97 and a one year high of $12.69. The company has a 50-day moving average price of $11.27 and a 200-day moving average price of $10.00. The stock has a market cap of $5.10 billion, a P/E ratio of 31.49 and a beta of 1.75.
ON Semiconductor Corp. (NASDAQ:ON) last announced its quarterly earnings data 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 business earned $877.80 million during the quarter, compared to analyst estimates of $854.55 million. During the same period last year, the company earned $0.22 earnings per share. ON Semiconductor Corp.’s quarterly revenue was down .3% compared to the same quarter last year. On average, analysts anticipate that ON Semiconductor Corp. will post $0.85 earnings per share for the current year.
In other ON Semiconductor Corp. news, VP Paul E. Rolls sold 3,507 shares of ON Semiconductor Corp. stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $12.50, for a total transaction of $43,837.50. Following the sale, the vice president now directly owns 265,345 shares of the company’s stock, valued at $3,316,812.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Paul E. Rolls sold 15,000 shares of ON Semiconductor Corp. stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $11.25, for a total value of $168,750.00. Following the sale, the vice president now directly owns 277,202 shares in the company, valued at $3,118,522.50. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. Riverhead Capital Management LLC bought a new stake in ON Semiconductor Corp. during the first quarter worth $6,938,000. UBS Asset Management Americas Inc. increased its stake in ON Semiconductor Corp. by 2.3% in the first quarter. UBS Asset Management Americas Inc. now owns 3,224,352 shares of the company’s stock worth $30,921,000 after buying an additional 72,736 shares during the last quarter. UBS Group AG increased its stake in ON Semiconductor Corp. by 55.9% in the first quarter. UBS Group AG now owns 480,718 shares of the company’s stock worth $4,610,000 after buying an additional 172,323 shares during the last quarter. Rafferty Asset Management LLC bought a new stake in ON Semiconductor Corp. during the first quarter worth $354,000. Finally, State Street Corp increased its stake in ON Semiconductor Corp. by 1.9% in the first quarter. State Street Corp now owns 6,038,290 shares of the company’s stock worth $57,913,000 after buying an additional 110,395 shares during the last quarter. 94.67% of the stock is currently owned by institutional investors.
About ON Semiconductor Corp.
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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