ON Semiconductor Corp (NASDAQ:ON) traded up 5.3% during mid-day trading on Thursday . The company traded as high as $18.44 and last traded at $18.40. 7,118,664 shares were traded during mid-day trading, an increase of 3% from the average session volume of 6,891,151 shares. The stock had previously closed at $17.48.
Several research analysts have recently commented on the stock. B. Riley increased their price target on shares of ON Semiconductor from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, July 31st. BidaskClub upgraded shares of ON Semiconductor from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 9th. Mizuho restated a “buy” rating and set a $27.00 price target on shares of ON Semiconductor in a research note on Monday, July 30th. Zacks Investment Research upgraded shares of ON Semiconductor from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research note on Tuesday, July 24th. Finally, ValuEngine lowered shares of ON Semiconductor from a “hold” rating to a “sell” rating in a research note on Monday, September 17th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $24.29.
The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.44 and a current ratio of 2.36. The company has a market cap of $7.36 billion, a PE ratio of 12.87, a price-to-earnings-growth ratio of 0.71 and a beta of 2.00.
ON Semiconductor (NASDAQ:ON) last posted its earnings results on Sunday, October 28th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.07. ON Semiconductor had a net margin of 17.24% and a return on equity of 25.97%. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same period last year, the business posted $0.44 EPS. ON Semiconductor’s revenue was up 10.8% compared to the same quarter last year. Equities research analysts expect that ON Semiconductor Corp will post 1.9 EPS for the current year.
ON Semiconductor declared that its board has initiated a share repurchase plan on Thursday, November 15th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the semiconductor company to repurchase up to 20.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
In related news, EVP Vince Craig Hopkin sold 3,172 shares of the firm’s stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $21.66, for a total value of $68,705.52. Following the transaction, the executive vice president now directly owns 84,114 shares in the company, valued at approximately $1,821,909.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Paul Anthony Mascarenas sold 9,100 shares of the firm’s stock in a transaction on Friday, September 28th. The shares were sold at an average price of $18.16, for a total transaction of $165,256.00. Following the completion of the transaction, the director now owns 57,104 shares in the company, valued at $1,037,008.64. The disclosure for this sale can be found here. Insiders sold a total of 38,280 shares of company stock worth $742,854 over the last quarter. 1.60% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of the stock. Comerica Bank grew its position in ON Semiconductor by 3.4% in the 2nd quarter. Comerica Bank now owns 74,521 shares of the semiconductor company’s stock worth $1,782,000 after purchasing an additional 2,478 shares during the last quarter. Independent Advisor Alliance grew its position in ON Semiconductor by 13.9% in the 2nd quarter. Independent Advisor Alliance now owns 20,734 shares of the semiconductor company’s stock worth $285,000 after purchasing an additional 2,526 shares during the last quarter. Lido Advisors LLC grew its position in ON Semiconductor by 28.0% in the 2nd quarter. Lido Advisors LLC now owns 12,589 shares of the semiconductor company’s stock worth $279,000 after purchasing an additional 2,754 shares during the last quarter. Centaurus Financial Inc. grew its position in ON Semiconductor by 6.1% in the 2nd quarter. Centaurus Financial Inc. now owns 52,124 shares of the semiconductor company’s stock worth $1,159,000 after purchasing an additional 2,999 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY grew its position in ON Semiconductor by 10.8% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 33,363 shares of the semiconductor company’s stock worth $742,000 after purchasing an additional 3,242 shares during the last quarter. Institutional investors and hedge funds own 91.30% of the company’s stock.
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About ON Semiconductor (NASDAQ:ON)
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.
Read More: Price to Earnings Ratio (PE)
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