ON Semiconductor (ON) Stock Rating Reaffirmed by Robert W. Baird

ON Semiconductor (NASDAQ:ON)‘s stock had its “buy” rating reiterated by research analysts at Robert W. Baird in a research report issued to clients and investors on Wednesday. They presently have a $28.00 price objective on the semiconductor company’s stock. Robert W. Baird’s target price indicates a potential upside of 56.51% from the stock’s previous close.

Several other research firms have also issued reports on ON. KeyCorp began coverage on shares of ON Semiconductor in a research report on Tuesday, September 25th. They issued a “sector weight” rating and a $16.00 price target on the stock. Raymond James cut shares of ON Semiconductor from an “outperform” rating to a “market perform” rating and set a $32.00 price objective on the stock. in a research report on Tuesday, September 25th. ValuEngine cut shares of ON Semiconductor from a “hold” rating to a “sell” rating in a research report on Monday, September 17th. Zacks Investment Research cut shares of ON Semiconductor from a “buy” rating to a “hold” rating in a research report on Thursday, September 27th. Finally, BMO Capital Markets began coverage on shares of ON Semiconductor in a research report on Monday, November 12th. They set a “market perform” rating and a $20.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. ON Semiconductor currently has an average rating of “Hold” and an average price target of $24.60.

ON Semiconductor stock opened at $17.89 on Wednesday. The company has a current ratio of 2.36, a quick ratio of 1.44 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $6.95 billion, a price-to-earnings ratio of 12.25, a price-to-earnings-growth ratio of 0.69 and a beta of 1.94. ON Semiconductor has a 1 year low of $14.55 and a 1 year high of $27.10.

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

ON Semiconductor announced that its Board of Directors has initiated a share repurchase plan on Thursday, November 15th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the semiconductor company to buy up to 20.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

In other ON Semiconductor news, VP Paul E. Rolls sold 31,487 shares of ON Semiconductor stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $20.00, for a total transaction of $629,740.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP William Hall sold 16,063 shares of ON Semiconductor stock in a transaction on Thursday, November 15th. The shares were sold at an average price of $17.73, for a total transaction of $284,796.99. The disclosure for this sale can be found here. Insiders have sold a total of 54,470 shares of company stock valued at $1,036,757 in the last three months. Company insiders own 1.29% of the company’s stock.

Large investors have recently modified their holdings of the business. Vanguard Group Inc boosted its stake in shares of ON Semiconductor by 1.0% during the 3rd quarter. Vanguard Group Inc now owns 43,093,027 shares of the semiconductor company’s stock valued at $794,204,000 after buying an additional 411,056 shares during the period. Ibex Wealth Advisors boosted its stake in shares of ON Semiconductor by 14.3% during the 3rd quarter. Ibex Wealth Advisors now owns 41,384 shares of the semiconductor company’s stock valued at $761,000 after buying an additional 5,165 shares during the period. Royal London Asset Management Ltd. lifted its stake in shares of ON Semiconductor by 145.1% in the 3rd quarter. Royal London Asset Management Ltd. now owns 166,165 shares of the semiconductor company’s stock valued at $3,063,000 after purchasing an additional 98,371 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in shares of ON Semiconductor by 47.6% in the 2nd quarter. Point72 Asset Management L.P. now owns 405,966 shares of the semiconductor company’s stock valued at $9,027,000 after purchasing an additional 130,966 shares during the last quarter. Finally, Seven Eight Capital LP lifted its stake in shares of ON Semiconductor by 159.3% in the 3rd quarter. Seven Eight Capital LP now owns 55,505 shares of the semiconductor company’s stock valued at $1,023,000 after purchasing an additional 34,100 shares during the last quarter. 91.71% of the stock is owned by institutional investors.

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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Analyst Recommendations for ON Semiconductor (NASDAQ:ON)

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