ON Semiconductor (NASDAQ:ON) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Monday. The brokerage presently has a $25.00 price objective on the semiconductor company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 12.11% from the stock’s current price.
According to Zacks, “ON Semi is an original equipment manufacturer (OEM) of a broad range of discrete and embedded semiconductor components. The company benefits from robust demand, adoption and favorable product mix. The company continues to gain from its strength in automotive and industrial end-markets. The addition of Fairchild’s offerings has expanded the company’s product portfolio. Synergies from acquisitions have given the company exposure to new end markets along with higher margin capabilities. We believe the recent acquisition of SensL Technologies, which is expected to be immediately accretive, is a positive. Notably, shares of the company have outperformed the industry on a year-to-date basis. However, intensifying competition and high debt position remain woes. Furthermore, restructuring activities limit bottom-line growth.”
Other analysts have also recently issued research reports about the company. BidaskClub upgraded ON Semiconductor from a “hold” rating to a “buy” rating in a research report on Wednesday, March 7th. ValuEngine raised ON Semiconductor from a “buy” rating to a “strong-buy” rating in a research note on Monday, April 2nd. JPMorgan Chase & Co. increased their price target on ON Semiconductor from $23.00 to $24.00 and gave the company a “neutral” rating in a research note on Tuesday, May 1st. Finally, Craig Hallum increased their price target on ON Semiconductor from $28.00 to $31.00 and gave the company a “buy” rating in a research note on Tuesday, June 5th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. ON Semiconductor has a consensus rating of “Buy” and a consensus price target of $25.10.
ON Semiconductor traded up $0.06, reaching $22.30, during trading on Monday, MarketBeat reports. The stock had a trading volume of 155,431 shares, compared to its average volume of 6,732,012. ON Semiconductor has a 52 week low of $13.65 and a 52 week high of $27.10. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.93 and a current ratio of 1.53. The company has a market cap of $9.51 billion, a price-to-earnings ratio of 15.25, a P/E/G ratio of 1.00 and a beta of 2.04.
ON Semiconductor (NASDAQ:ON) last issued its quarterly earnings results on Sunday, April 29th. The semiconductor company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.01. The business had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.37 billion. ON Semiconductor had a return on equity of 23.00% and a net margin of 15.90%. The business’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.18 earnings per share. equities analysts predict that ON Semiconductor will post 1.77 earnings per share for the current year.
In related news, CEO Keith D. Jackson sold 80,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 23rd. The stock was sold at an average price of $23.99, for a total transaction of $1,919,200.00. Following the completion of the sale, the chief executive officer now directly owns 3,107,401 shares of the company’s stock, valued at approximately $74,546,549.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daryl Ostrander sold 2,750 shares of the firm’s stock in a transaction that occurred on Monday, May 21st. The stock was sold at an average price of $23.75, for a total value of $65,312.50. Following the sale, the director now directly owns 81,310 shares of the company’s stock, valued at $1,931,112.50. The disclosure for this sale can be found here. Insiders sold a total of 130,929 shares of company stock valued at $3,129,066 over the last ninety days. Corporate insiders own 1.29% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Profund Advisors LLC increased its holdings in ON Semiconductor by 2.3% during the 1st quarter. Profund Advisors LLC now owns 101,102 shares of the semiconductor company’s stock worth $2,473,000 after purchasing an additional 2,272 shares during the period. Westover Capital Advisors LLC increased its holdings in ON Semiconductor by 13.9% during the 4th quarter. Westover Capital Advisors LLC now owns 19,982 shares of the semiconductor company’s stock worth $418,000 after purchasing an additional 2,433 shares during the period. Hanseatic Management Services Inc. increased its holdings in ON Semiconductor by 4.3% during the 4th quarter. Hanseatic Management Services Inc. now owns 69,489 shares of the semiconductor company’s stock worth $1,455,000 after purchasing an additional 2,858 shares during the period. First Republic Investment Management Inc. increased its holdings in ON Semiconductor by 20.1% during the 1st quarter. First Republic Investment Management Inc. now owns 23,167 shares of the semiconductor company’s stock worth $566,000 after purchasing an additional 3,874 shares during the period. Finally, Amalgamated Bank increased its holdings in shares of ON Semiconductor by 5.8% in the 4th quarter. Amalgamated Bank now owns 83,332 shares of the semiconductor company’s stock valued at $1,745,000 after acquiring an additional 4,587 shares during the period. 90.39% of the stock is owned by hedge funds and other 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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