ON Semiconductor (ON) Rating Increased to Hold at ValuEngine

ON Semiconductor (NASDAQ:ON) was upgraded by stock analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued on Friday.

Several other brokerages also recently weighed in on ON. Needham & Company LLC reiterated a “buy” rating and issued a $30.00 target price on shares of ON Semiconductor in a research note on Monday, July 30th. Citigroup reduced their price target on ON Semiconductor from $28.00 to $21.00 and set a “buy” rating for the company in a report on Tuesday, October 30th. BidaskClub cut ON Semiconductor from a “sell” rating to a “strong sell” rating in a report on Saturday, September 8th. Raymond James cut ON Semiconductor from an “outperform” rating to a “market perform” rating and set a $32.00 price target for the company. in a report on Tuesday, September 25th. Finally, Morgan Stanley cut ON Semiconductor from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $20.00 to $18.50 in a report on Thursday, August 9th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $24.70.

Shares of NASDAQ ON traded down $0.29 during midday trading on Friday, hitting $18.11. 9,309,653 shares of the company’s stock were exchanged, compared to its average volume of 8,968,440. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.91 and a current ratio of 2.36. ON Semiconductor has a twelve month low of $14.55 and a twelve month high of $27.10. The firm has a market capitalization of $7.62 billion, a PE ratio of 9.95, a price-to-earnings-growth ratio of 0.74 and a beta of 2.00.

ON Semiconductor (NASDAQ:ON) last released its quarterly earnings results on Sunday, October 28th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.07. The firm had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.51 billion. ON Semiconductor had a return on equity of 25.97% and a net margin of 17.24%. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.44 EPS. On average, sell-side analysts forecast that ON Semiconductor will post 1.9 earnings per share for the current fiscal year.

In related news, EVP Vince Craig Hopkin sold 3,172 shares of the business’s stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $21.66, for a total value of $68,705.52. Following the transaction, the executive vice president now owns 84,114 shares in the company, valued at $1,821,909.24. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Bernard Raymond Colpitts, Jr. sold 1,214 shares of the business’s stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $21.44, for a total value of $26,028.16. Following the completion of the transaction, the insider now owns 18,357 shares in the company, valued at approximately $393,574.08. The disclosure for this sale can be found here. Insiders sold 39,494 shares of company stock valued at $768,883 in the last ninety days. Company insiders own 1.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. LS Investment Advisors LLC bought a new position in shares of ON Semiconductor during the second quarter valued at approximately $109,000. Psagot Investment House Ltd. bought a new position in ON Semiconductor in the 2nd quarter worth approximately $123,000. Cerebellum GP LLC bought a new position in ON Semiconductor in the 2nd quarter worth approximately $170,000. Creative Planning bought a new position in ON Semiconductor in the 3rd quarter worth approximately $207,000. Finally, New Jersey Better Educational Savings Trust bought a new position in ON Semiconductor in the 2nd quarter worth approximately $222,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

ON Semiconductor Company Profile

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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Analyst Recommendations for ON Semiconductor (NASDAQ:ON)

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