ON Semiconductor Corp (NASDAQ:ON) Given Consensus Recommendation of “Buy” by Analysts

Shares of ON Semiconductor Corp (NASDAQ:ON – Get Rating) have been given a consensus rating of “Buy” by the twenty-seven ratings firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, six have given a hold recommendation, eighteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $69.58.

Several research analysts have issued reports on the stock. Credit Suisse Group raised their price objective on shares of ON Semiconductor from $52.00 to $62.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 8th. Truist Financial lowered their price objective on shares of ON Semiconductor from $73.00 to $65.00 and set a “buy” rating on the stock in a research report on Friday, April 8th. Wells Fargo & Company raised shares of ON Semiconductor from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $58.00 to $65.00 in a research report on Wednesday. Mizuho raised their target price on shares of ON Semiconductor from $65.00 to $68.00 in a research note on Tuesday, May 3rd. Finally, Stifel Nicolaus raised their target price on shares of ON Semiconductor from $58.00 to $64.00 and gave the stock a “hold” rating in a research note on Tuesday, February 8th.

NASDAQ ON opened at $52.98 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.79 and a quick ratio of 1.56. The firm’s fifty day moving average price is $56.80 and its 200 day moving average price is $59.62. The company has a market capitalization of $23.02 billion, a price-to-earnings ratio of 16.25, a price-to-earnings-growth ratio of 0.53 and a beta of 1.73. ON Semiconductor has a 12 month low of $34.01 and a 12 month high of $71.25.

ON Semiconductor (NASDAQ:ON – Get Rating) last issued its quarterly earnings data on Monday, May 2nd. The semiconductor company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.17. ON Semiconductor had a net margin of 20.13% and a return on equity of 38.08%. The company had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same period last year, the firm posted $0.35 EPS. ON Semiconductor’s revenue for the quarter was up 31.3% on a year-over-year basis. As a group, sell-side analysts forecast that ON Semiconductor will post 4.91 earnings per share for the current year.

In other news, EVP Vince Craig Hopkin sold 6,296 shares of the company’s stock in a transaction on Tuesday, May 10th. The stock was sold at an average price of $52.10, for a total transaction of $328,021.60. Following the completion of the sale, the executive vice president now directly owns 169,073 shares in the company, valued at approximately $8,808,703.30. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Paul Anthony Mascarenas sold 20,000 shares of ON Semiconductor stock in a transaction on Monday, March 28th. The shares were sold at an average price of $65.00, for a total value of $1,300,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,378 shares of company stock valued at $2,832,409. Insiders own 0.40% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. IronBridge Private Wealth LLC purchased a new position in shares of ON Semiconductor in the 4th quarter worth about $27,000. Tsfg LLC purchased a new position in shares of ON Semiconductor in the 4th quarter worth about $27,000. Cedar Mountain Advisors LLC purchased a new position in shares of ON Semiconductor in the 1st quarter worth about $25,000. Allworth Financial LP raised its holdings in shares of ON Semiconductor by 265.6% in the 4th quarter. Allworth Financial LP now owns 457 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 332 shares during the period. Finally, Glassman Wealth Services raised its holdings in shares of ON Semiconductor by 987.0% during the 3rd quarter. Glassman Wealth Services now owns 587 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 533 shares during the period. Institutional investors own 92.86% of the company’s stock.

ON Semiconductor Company Profile (Get Rating)

onsemi is engaged in disruptive innovations and also a supplier of power and analog semiconductors. The firm offers vehicle electrification and safety, sustainable energy grids, industrial automation, and 5G and cloud infrastructure, with a focus on automotive and industrial end-markets. It operates through the following segments: Power Solutions Group, Advanced Solutions Group, and Intelligent Sensing Group.

Read More