UBS Group Begins Coverage on ON Semiconductor (NASDAQ:ON)

UBS Group assumed coverage on shares of ON Semiconductor (NASDAQ:ON) in a research report sent to investors on Wednesday morning, PriceTargets.com reports. The firm issued a neutral rating and a $46.00 target price on the semiconductor company’s stock.

A number of other equities analysts have also recently commented on ON. Citigroup reiterated a buy rating and issued a $54.00 target price (up previously from $45.00) on shares of ON Semiconductor in a report on Tuesday, August 3rd. Raymond James boosted their price objective on ON Semiconductor from $50.00 to $60.00 and gave the company an outperform rating in a report on Tuesday, August 3rd. BMO Capital Markets boosted their price objective on ON Semiconductor from $40.00 to $45.00 and gave the company a market perform rating in a report on Tuesday, August 3rd. Truist boosted their price objective on ON Semiconductor from $46.00 to $51.00 and gave the company a buy rating in a report on Tuesday, August 3rd. Finally, Craig Hallum boosted their price objective on ON Semiconductor from $45.00 to $52.00 and gave the company a buy rating in a report on Tuesday, August 3rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Buy and an average target price of $48.70.

Shares of ON Semiconductor stock opened at $41.90 on Wednesday. The stock has a market cap of $18.04 billion, a price-to-earnings ratio of 34.63, a price-to-earnings-growth ratio of 0.35 and a beta of 1.87. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.32 and a current ratio of 2.22. The stock has a 50 day moving average price of $45.33 and a 200-day moving average price of $41.22. ON Semiconductor has a one year low of $23.86 and a one year high of $49.78.

ON Semiconductor (NASDAQ:ON) last announced its earnings results on Sunday, August 1st. The semiconductor company reported $0.63 EPS for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.14. The firm had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.62 billion. ON Semiconductor had a return on equity of 18.98% and a net margin of 8.85%. The company’s quarterly revenue was up 37.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.12 EPS. Sell-side analysts predict that ON Semiconductor will post 2.49 earnings per share for the current fiscal year.

In other ON Semiconductor news, EVP Vince Craig Hopkin sold 4,000 shares of the business’s stock in a transaction dated Monday, August 2nd. The stock was sold at an average price of $42.94, for a total transaction of $171,760.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP George H. Cave sold 10,000 shares of the company’s stock in a transaction dated Tuesday, August 10th. The stock was sold at an average price of $45.15, for a total value of $451,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 25,700 shares of company stock worth $1,150,993 over the last ninety days. 1.42% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the business. IFM Investors Pty Ltd boosted its position in ON Semiconductor by 0.6% during the third quarter. IFM Investors Pty Ltd now owns 54,266 shares of the semiconductor company’s stock worth $2,484,000 after purchasing an additional 327 shares in the last quarter. Koshinski Asset Management Inc. purchased a new position in ON Semiconductor during the third quarter worth approximately $72,000. Three Peaks Capital Management LLC boosted its position in ON Semiconductor by 6.8% during the third quarter. Three Peaks Capital Management LLC now owns 50,579 shares of the semiconductor company’s stock worth $2,315,000 after purchasing an additional 3,231 shares in the last quarter. Pensionfund DSM Netherlands purchased a new position in ON Semiconductor during the third quarter worth approximately $334,000. Finally, Lenox Wealth Advisors LLC purchased a new position in ON Semiconductor during the third quarter worth approximately $43,000. Institutional investors own 91.15% of the company’s stock.

About ON Semiconductor

ON Semiconductor Corp. engages in the design, manufacture, and marketing of portfolio of semiconductor components. It operates through the following segments: Power Solutions Group, Advanced Solutions Group, and Intelligent Sensing Group. The Power Solutions Group segment offers discrete, module, and semiconductor products that perform multiple application functions, including power switching, power conversion, signal conditioning, circuit protection, signal amplification, and voltage reference functions.

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Analyst Recommendations for ON Semiconductor (NASDAQ:ON)

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