KeyCorp assumed coverage on shares of ON Semiconductor (NASDAQ:ON) in a research report issued on Tuesday, Marketbeat Ratings reports. The firm set a “sector weight” rating and a $16.00 price target on the semiconductor company’s stock. KeyCorp’s price objective points to a potential downside of 13.14% from the company’s previous close.
Other equities analysts also recently issued reports about the stock. B. Riley raised their price target on shares of ON Semiconductor from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, July 31st. BidaskClub downgraded shares of ON Semiconductor from a “hold” rating to a “sell” rating in a research note on Wednesday, June 27th. ValuEngine downgraded shares of ON Semiconductor from a “buy” rating to a “hold” rating in a research note on Monday, July 2nd. Nomura began coverage on shares of ON Semiconductor in a research note on Wednesday, July 18th. They issued a “buy” rating and a $30.00 price target on the stock. Finally, Zacks Investment Research downgraded shares of ON Semiconductor from a “buy” rating to a “hold” rating in a research note on Tuesday, July 3rd. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. ON Semiconductor presently has an average rating of “Hold” and an average target price of $25.96.
NASDAQ:ON opened at $18.42 on Tuesday. The company has a current ratio of 1.54, a quick ratio of 0.91 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $8.14 billion, a PE ratio of 12.62, a price-to-earnings-growth ratio of 0.79 and a beta of 1.96. ON Semiconductor has a twelve month low of $17.67 and a twelve month high of $27.10.
In other news, EVP William Hall sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $19.56, for a total value of $489,000.00. Following the sale, the executive vice president now directly owns 415,797 shares of the company’s stock, valued at approximately $8,132,989.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Vince Craig Hopkin sold 3,172 shares of the business’s stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $21.66, for a total transaction of $68,705.52. Following the completion of the sale, the executive vice president now directly owns 84,114 shares in the company, valued at $1,821,909.24. The disclosure for this sale can be found here. Insiders have sold 30,394 shares of company stock worth $603,627 over the last ninety days. 1.29% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the company. LS Investment Advisors LLC purchased a new stake in shares of ON Semiconductor in the 2nd quarter valued at approximately $109,000. Point72 Asia Hong Kong Ltd raised its stake in shares of ON Semiconductor by 9,749.0% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 4,826 shares of the semiconductor company’s stock valued at $118,000 after acquiring an additional 4,777 shares during the period. Psagot Investment House Ltd. purchased a new stake in shares of ON Semiconductor in the 2nd quarter valued at approximately $123,000. Cerebellum GP LLC purchased a new stake in shares of ON Semiconductor in the 2nd quarter valued at approximately $170,000. Finally, New Jersey Better Educational Savings Trust purchased a new stake in shares of ON Semiconductor in the 2nd quarter valued at approximately $222,000. 92.27% of the stock is currently owned by institutional investors and hedge funds.
About ON Semiconductor
ON Semiconductor Corporation manufactures and sells semiconductor components for various electronic devices worldwide. It operates through three segments: Power Solutions Group, Analog Solutions Group, and Image Sensor Group. The Power Solutions Group segment offers discrete, module, and integrated semiconductor products for various applications, such as power switching, power conversion, signal conditioning, circuit protection, signal amplification, and voltage reference.
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