ON Semiconductor (NASDAQ:ON) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.
ON has been the subject of several other reports. Craig Hallum lifted their target price on shares of ON Semiconductor from $28.00 to $31.00 and gave the company a “buy” rating in a report on Tuesday, June 5th. BidaskClub lowered shares of ON Semiconductor from a “strong-buy” rating to a “buy” rating in a report on Friday, June 8th. Zacks Investment Research upgraded shares of ON Semiconductor from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a report on Tuesday, March 6th. Finally, JPMorgan Chase & Co. lifted their target price on shares of ON Semiconductor from $23.00 to $24.00 and gave the company a “neutral” rating in a report on Tuesday, May 1st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. ON Semiconductor presently has a consensus rating of “Hold” and a consensus price target of $25.10.
Shares of ON opened at $22.15 on Monday. The company has a quick ratio of 0.93, a current ratio of 1.53 and a debt-to-equity ratio of 0.71. ON Semiconductor has a one year low of $13.65 and a one year high of $27.10. The stock has a market capitalization of $9.51 billion, a price-to-earnings ratio of 15.17, a P/E/G ratio of 1.00 and a beta of 2.04.
ON Semiconductor (NASDAQ:ON) last issued its quarterly earnings data on Sunday, April 29th. The semiconductor company reported $0.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.01. ON Semiconductor had a net margin of 15.90% and a return on equity of 23.00%. The business had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same period last year, the business posted $0.18 earnings per share. ON Semiconductor’s quarterly revenue was up 7.5% compared to the same quarter last year. sell-side analysts predict that ON Semiconductor will post 1.77 EPS for the current fiscal year.
In related news, CEO Keith D. Jackson sold 80,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 23rd. The shares were sold at an average price of $23.99, for a total value of $1,919,200.00. Following the completion of the transaction, the chief executive officer now directly owns 3,107,401 shares in the company, valued at approximately $74,546,549.99. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP George H. Cave sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, May 10th. The stock was sold at an average price of $23.51, for a total transaction of $352,650.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 130,929 shares of company stock valued at $3,129,066. 1.29% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Sensato Investors LLC purchased a new position in ON Semiconductor in the 4th quarter worth approximately $262,000. Amalgamated Bank grew its position in ON Semiconductor by 5.8% in the 4th quarter. Amalgamated Bank now owns 83,332 shares of the semiconductor company’s stock worth $1,745,000 after purchasing an additional 4,587 shares during the period. Meadow Creek Investment Management LLC grew its position in ON Semiconductor by 155.9% in the 4th quarter. Meadow Creek Investment Management LLC now owns 162,384 shares of the semiconductor company’s stock worth $3,400,000 after purchasing an additional 98,928 shares during the period. Flinton Capital Management LLC grew its position in ON Semiconductor by 155.9% in the 4th quarter. Flinton Capital Management LLC now owns 345,066 shares of the semiconductor company’s stock worth $7,226,000 after purchasing an additional 210,222 shares during the period. Finally, Raymond James & Associates grew its position in ON Semiconductor by 26.2% in the 4th quarter. Raymond James & Associates now owns 412,519 shares of the semiconductor company’s stock worth $8,638,000 after purchasing an additional 85,625 shares during the period. Institutional investors own 90.39% 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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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