ValuEngine upgraded shares of ON Semiconductor (NASDAQ:ON) from a sell rating to a hold rating in a research report report published on Friday morning.
A number of other equities analysts have also recently commented on the company. Zacks Investment Research cut ON Semiconductor from a buy rating to a hold rating in a report on Thursday, September 27th. Morgan Stanley cut ON Semiconductor from an equal weight rating to an underweight rating and reduced their target price for the company from $20.00 to $18.50 in a report on Thursday, August 9th. KeyCorp initiated coverage on ON Semiconductor in a report on Tuesday, September 25th. They set a sector weight rating and a $16.00 target price for the company. Raymond James cut ON Semiconductor from an outperform rating to a market perform rating and set a $32.00 target price for the company. in a report on Tuesday, September 25th. Finally, BidaskClub raised ON Semiconductor from a strong sell rating to a sell rating in a report on Thursday, August 30th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of Hold and a consensus price target of $24.70.
Shares of ON Semiconductor stock traded down $0.29 during mid-day trading on Friday, reaching $18.11. 9,309,653 shares of the stock traded hands, compared to its average volume of 8,968,440. ON Semiconductor has a fifty-two week low of $14.55 and a fifty-two week high of $27.10. The stock has a market capitalization of $7.62 billion, a P/E ratio of 9.95, a PEG ratio of 0.74 and a beta of 2.00. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.36 and a quick ratio of 0.91.
ON Semiconductor (NASDAQ:ON) last announced its earnings results on Sunday, October 28th. The semiconductor company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.07. ON Semiconductor had a return on equity of 25.97% and a net margin of 17.24%. The business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter in the prior year, the firm earned $0.44 earnings per share. The business’s revenue was up 10.8% compared to the same quarter last year. As a group, research analysts anticipate that ON Semiconductor will post 1.9 EPS for the current fiscal year.
In other news, EVP Vince Craig Hopkin sold 3,172 shares of the company’s stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $21.66, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP William Hall sold 25,000 shares of the company’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 completion of the sale, the executive vice president now owns 415,797 shares of the company’s stock, valued at $8,132,989.32. The disclosure for this sale can be found here. Insiders sold 39,494 shares of company stock valued at $768,883 over the last 90 days. Company insiders own 1.60% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. LS Investment Advisors LLC purchased a new position in ON Semiconductor in the second quarter worth approximately $109,000. Psagot Investment House Ltd. purchased a new position in ON Semiconductor in the second quarter worth approximately $123,000. Cerebellum GP LLC purchased a new position in ON Semiconductor in the second quarter worth approximately $170,000. New Jersey Better Educational Savings Trust purchased a new position in ON Semiconductor in the second quarter worth approximately $222,000. Finally, John G Ullman & Associates Inc. purchased a new position in ON Semiconductor in the second quarter worth approximately $242,000. Institutional investors and hedge funds own 90.49% of the company’s stock.
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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