Raymond James upgraded shares of ON Semiconductor (NASDAQ:ON) from a market perform rating to a strong-buy rating in a research note published on Monday, BenzingaRatingsTable reports. The brokerage currently has $21.00 price target on the semiconductor company’s stock.
Several other research analysts have also recently commented on ON. ValuEngine raised ON Semiconductor from a sell rating to a hold rating in a research report on Thursday, August 8th. BidaskClub cut ON Semiconductor from a sell rating to a strong sell rating in a research report on Wednesday, August 7th. Loop Capital reduced their price target on ON Semiconductor to $23.00 and set a buy rating for the company in a research report on Tuesday, August 6th. Mizuho reissued a buy rating and set a $26.00 price target on shares of ON Semiconductor in a research report on Monday, August 5th. Finally, Citigroup reduced their price target on ON Semiconductor from $25.00 to $21.00 and set a buy rating for the company in a research report on Tuesday, August 6th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. ON Semiconductor presently has a consensus rating of Buy and an average target price of $24.10.
ON stock opened at $18.44 on Monday. The company has a debt-to-equity ratio of 1.08, a current ratio of 2.42 and a quick ratio of 1.41. The stock has a market capitalization of $7.50 billion, a P/E ratio of 9.41, a P/E/G ratio of 1.67 and a beta of 2.16. The business has a 50-day moving average of $19.56 and a 200-day moving average of $20.73. ON Semiconductor has a fifty-two week low of $14.55 and a fifty-two week high of $23.54.
ON Semiconductor (NASDAQ:ON) last issued its quarterly earnings results on Sunday, August 4th. The semiconductor company reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. ON Semiconductor had a return on equity of 25.36% and a net margin of 9.49%. The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same period in the prior year, the firm posted $0.46 earnings per share. The business’s quarterly revenue was down 7.4% compared to the same quarter last year. Equities analysts expect that ON Semiconductor will post 1.58 EPS for the current year.
In other news, Director Gilles Delfassy sold 3,731 shares of the stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $18.96, for a total transaction of $70,739.76. Following the transaction, the director now owns 49,208 shares in the company, valued at $932,983.68. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Emmanuel T. Hernandez sold 30,000 shares of the stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $22.00, for a total value of $660,000.00. Following the transaction, the director now owns 100,994 shares in the company, valued at approximately $2,221,868. The disclosure for this sale can be found here. Insiders sold 48,198 shares of company stock worth $1,042,444 in the last 90 days. Corporate insiders own 1.40% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Oakworth Capital Inc. bought a new position in ON Semiconductor during the 2nd quarter worth $28,000. Front Row Advisors LLC increased its stake in ON Semiconductor by 2,244.3% during the 1st quarter. Front Row Advisors LLC now owns 1,430 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 1,369 shares during the period. Berman Capital Advisors LLC increased its stake in ON Semiconductor by 79.8% during the 1st quarter. Berman Capital Advisors LLC now owns 1,539 shares of the semiconductor company’s stock worth $31,000 after acquiring an additional 683 shares during the period. Private Capital Group LLC increased its stake in ON Semiconductor by 116.8% during the 1st quarter. Private Capital Group LLC now owns 2,096 shares of the semiconductor company’s stock worth $43,000 after acquiring an additional 1,129 shares during the period. Finally, Quadrant Capital Group LLC increased its stake in ON Semiconductor by 135.8% during the 1st quarter. Quadrant Capital Group LLC now owns 2,747 shares of the semiconductor company’s stock worth $53,000 after acquiring an additional 1,582 shares during the period. Institutional investors own 98.13% of the company’s stock.
ON Semiconductor Company Profile
ON Semiconductor Corporation manufactures and sells semiconductor components for various electronic devices worldwide. The company operates in three segments: Power Solutions Group, Analog Solutions Group, and Intelligent Sensing Group. The Power Solutions Group segment offers discrete, module, and integrated semiconductor products for various applications, such as power switching and conversion, signal conditioning, circuit protection, signal amplification, and voltage reference.
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