Shares of ON Semiconductor Corp (NASDAQ:ON) have earned an average recommendation of “Buy” from the twenty-three analysts that are presently covering the company. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation, sixteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $15.75.
ON has been the subject of a number of research analyst reports. KeyCorp reiterated an “overweight” rating and issued a $15.00 price target on shares of ON Semiconductor Corp in a research note on Wednesday, December 28th. Vetr upgraded ON Semiconductor Corp from a “buy” rating to a “strong-buy” rating and set a $14.47 price target for the company in a research note on Monday, January 2nd. Goldman Sachs Group Inc upgraded ON Semiconductor Corp from a “neutral” rating to a “buy” rating and increased their price target for the company from $12.00 to $15.00 in a research note on Wednesday, January 4th. Zacks Investment Research cut ON Semiconductor Corp from a “hold” rating to a “sell” rating in a research note on Thursday, January 19th. Finally, B. Riley restated a “buy” rating and issued a $18.00 price objective on shares of ON Semiconductor Corp in a research note on Monday, February 13th.
In other news, EVP George H. Cave sold 5,000 shares of ON Semiconductor Corp stock in a transaction that occurred on Wednesday, January 25th. The stock was sold at an average price of $13.76, for a total value of $68,800.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO William A. Schromm sold 18,547 shares of ON Semiconductor Corp stock in a transaction that occurred on Wednesday, January 25th. The stock was sold at an average price of $14.00, for a total value of $259,658.00. Following the completion of the sale, the chief operating officer now directly owns 448,774 shares in the company, valued at $6,282,836. The disclosure for this sale can be found here. Over the last three months, insiders sold 26,414 shares of company stock worth $370,293. 1.60% of the stock is owned by corporate insiders.
Hedge funds have recently modified their holdings of the company. FMR LLC raised its stake in shares of ON Semiconductor Corp by 25.4% in the fourth quarter. FMR LLC now owns 26,212,696 shares of the semiconductor company’s stock worth $334,474,000 after buying an additional 5,301,935 shares in the last quarter. Norges Bank purchased a new stake in shares of ON Semiconductor Corp during the fourth quarter worth about $49,822,000. Janus Capital Management LLC raised its stake in shares of ON Semiconductor Corp by 9.3% in the fourth quarter. Janus Capital Management LLC now owns 30,159,648 shares of the semiconductor company’s stock worth $384,837,000 after buying an additional 2,559,951 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD purchased a new stake in shares of ON Semiconductor Corp during the third quarter worth about $28,793,000. Finally, Victory Capital Management Inc. raised its stake in shares of ON Semiconductor Corp by 24.9% in the third quarter. Victory Capital Management Inc. now owns 8,925,309 shares of the semiconductor company’s stock worth $109,960,000 after buying an additional 1,777,884 shares in the last quarter.
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ON Semiconductor Corp (NASDAQ:ON) traded up 2.55% on Tuesday, hitting $14.87. 4,454,114 shares of the company were exchanged. The stock has a 50 day moving average of $15.02 and a 200 day moving average of $13.34. ON Semiconductor Corp has a 52 week low of $8.11 and a 52 week high of $16.06. The company has a market capitalization of $6.24 billion, a price-to-earnings ratio of 34.58 and a beta of 1.96.
About ON Semiconductor Corp
ON Semiconductor Corporation offers a portfolio of sensors, power management, connectivity, custom and system on chip (SoC), analog, logic, timing, and discrete devices. The Company’s segments include Power Solutions Group, Analog Solutions Group and Image Sensor Group. The Power Solutions Group offers a range of discrete, module and integrated semiconductor products.
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