Susquehanna started coverage on shares of ON Semiconductor Corp (NASDAQ:ON) in a research report report published on Tuesday morning. The firm issued a positive rating and a $14.00 target price on the stock.
ON has been the topic of several other reports. Stephens began coverage on ON Semiconductor Corp in a report on Thursday, June 2nd. They set an equal weight rating and a $11.00 price target on the stock. B. Riley restated a buy rating and set a $15.00 price target 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 target on the stock in a report on Tuesday, July 12th. Longbow Research upgraded ON Semiconductor Corp from a neutral rating to a buy rating and set a $14.00 price target on the stock in a report on Wednesday, August 24th. Finally, Jefferies Group upped their target price on ON Semiconductor Corp from $10.00 to $10.50 and gave the company a hold rating in a report on Tuesday, August 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seventeen have assigned a buy rating to the company. The company presently has an average rating of Buy and an average target price of $13.61.
Shares of ON Semiconductor Corp (NASDAQ:ON) opened at 11.71 on Tuesday. ON Semiconductor Corp has a one year low of $6.97 and a one year high of $12.55. The firm has a market capitalization of $4.87 billion, a P/E ratio of 30.03 and a beta of 1.64. The firm’s 50-day moving average is $10.73 and its 200 day moving average is $9.78.
ON Semiconductor Corp (NASDAQ:ON) last released its earnings results on Monday, August 8th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the Zacks’ 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 firm had revenue of $877.80 million for the quarter, compared to analysts’ expectations of $854.55 million. During the same quarter in the previous year, the business posted $0.22 earnings per share. The business’s revenue for the quarter was down .3% on a year-over-year basis. Equities research analysts predict 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 firm’s stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $11.25, for a total value of $168,750.00. Following the completion of the transaction, the vice president now owns 277,202 shares in the company, valued at approximately $3,118,522.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.60% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in ON Semiconductor Corp during the fourth quarter worth approximately $39,331,000. Fisher Asset Management LLC boosted its position in ON Semiconductor Corp by 229.5% in the first quarter. Fisher Asset Management LLC now owns 95,562 shares of the company’s stock worth $923,000 after buying an additional 66,562 shares during the last quarter. Quantitative Systematic Strategies LLC purchased a new position in ON Semiconductor Corp during the first quarter worth approximately $254,000. Aperio Group LLC boosted its position in ON Semiconductor Corp by 39.5% in the first quarter. Aperio Group LLC now owns 51,425 shares of the company’s stock worth $493,000 after buying an additional 14,561 shares during the last quarter. Finally, Virginia Retirement System purchased a new position in ON Semiconductor Corp during the first quarter worth approximately $1,641,000. Institutional investors own 94.67% of the company’s stock.
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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