ON Semiconductor Corp (NASDAQ:ON) Given Average Recommendation of “Buy” by Brokerages

ON Semiconductor Corp (NASDAQ:ONGet Rating) has received a consensus rating of “Buy” from the twenty-seven brokerages that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have covered the stock in the last year is $69.58.

ON has been the topic of a number of analyst reports. StockNews.com began coverage on ON Semiconductor in a report on Thursday, March 31st. They set a “buy” rating on the stock. KeyCorp lifted their price objective on ON Semiconductor from $72.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 8th. Benchmark restated a “buy” rating and issued a $72.00 target price on shares of ON Semiconductor in a report on Tuesday, May 3rd. Mizuho lifted their price target on shares of ON Semiconductor from $65.00 to $68.00 in a report on Tuesday, May 3rd. Finally, Wells Fargo & Company raised shares of ON Semiconductor from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $58.00 to $65.00 in a research note on Wednesday, May 11th.

In related news, Director Paul Anthony Mascarenas sold 20,000 shares of the firm’s stock in a transaction that occurred 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Vince Craig Hopkin sold 6,296 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 169,073 shares of the company’s stock, valued at approximately $8,808,703.30. The disclosure for this sale can be found here. Insiders have sold 46,378 shares of company stock worth $2,832,409 in the last quarter. Company insiders own 0.40% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC acquired a new position in ON Semiconductor in the 4th quarter worth approximately $44,992,000. Albar Capital Ltd grew its holdings in shares of ON Semiconductor by 253.7% during the 3rd quarter. Albar Capital Ltd now owns 429,178 shares of the semiconductor company’s stock valued at $19,643,000 after acquiring an additional 307,826 shares in the last quarter. Arden Trust Co acquired a new position in shares of ON Semiconductor in the fourth quarter worth $235,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of ON Semiconductor by 16.1% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 25,858 shares of the semiconductor company’s stock worth $1,756,000 after acquiring an additional 3,585 shares in the last quarter. Finally, Raymond James Trust N.A. acquired a new stake in ON Semiconductor during the fourth quarter valued at $350,000. 92.86% of the stock is owned by hedge funds and other institutional investors.

ON Semiconductor stock opened at $66.01 on Tuesday. ON Semiconductor has a fifty-two week low of $34.01 and a fifty-two week high of $71.25. The firm has a market capitalization of $28.68 billion, a price-to-earnings ratio of 20.25 and a beta of 1.72. The stock’s fifty day moving average is $56.40 and its two-hundred day moving average is $59.97. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.83 and a current ratio of 2.79.

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

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.

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Analyst Recommendations for ON Semiconductor (NASDAQ:ON)

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