ON Semiconductor (NASDAQ:ON) Price Target Raised to $72.00 at Mizuho

ON Semiconductor (NASDAQ:ONGet Rating) had its price target boosted by Mizuho from $68.00 to $72.00 in a research report issued on Tuesday, The Fly reports. The firm currently has a “buy” rating on the semiconductor company’s stock. Mizuho’s price objective would indicate a potential upside of 4.61% from the stock’s current price.

A number of other research analysts have also recently issued reports on the company. Bank of America lowered their price objective on ON Semiconductor from $80.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, June 29th. Needham & Company LLC lowered their price objective on ON Semiconductor to $60.00 in a research note on Tuesday, July 5th. Deutsche Bank Aktiengesellschaft lowered their price objective on ON Semiconductor from $70.00 to $65.00 in a research note on Wednesday, July 20th. Truist Financial lowered their price objective on ON Semiconductor from $73.00 to $65.00 and set a “buy” rating for the company in a research note on Friday, April 8th. Finally, Summit Insights cut ON Semiconductor from a “buy” rating to a “hold” rating in a research note on Monday. One analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $71.46.

ON Semiconductor Trading Up 4.9 %

ON opened at $68.83 on Tuesday. The stock has a market cap of $29.91 billion, a PE ratio of 17.83, a PEG ratio of 0.67 and a beta of 1.82. The company has a quick ratio of 1.83, a current ratio of 2.79 and a debt-to-equity ratio of 0.56. The business has a 50 day moving average of $57.12 and a 200-day moving average of $57.55. ON Semiconductor has a 52 week low of $40.85 and a 52 week high of $71.25.

ON Semiconductor (NASDAQ:ONGet Rating) last released its earnings results on Monday, August 1st. The semiconductor company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.08. The company had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.01 billion. ON Semiconductor had a return on equity of 41.43% and a net margin of 22.60%. The firm’s revenue for the quarter was up 24.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.63 EPS. Equities research analysts predict that ON Semiconductor will post 4.9 earnings per share for the current fiscal year.

Insider Buying and Selling at ON Semiconductor

In other ON Semiconductor news, EVP Vince Craig Hopkin sold 6,296 shares of the business’s stock in a transaction dated 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 owns 169,073 shares of the company’s stock, valued at $8,808,703.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Hassane El-Khoury sold 20,000 shares of the business’s stock in a transaction dated Monday, July 18th. The stock was sold at an average price of $56.17, for a total value of $1,123,400.00. Following the transaction, the chief executive officer now directly owns 261,162 shares in the company, valued at $14,669,469.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Vince Craig Hopkin sold 6,296 shares of the business’s stock in a transaction dated Tuesday, May 10th. The shares were sold at an average price of $52.10, for a total value of $328,021.60. Following the completion of the transaction, the executive vice president now owns 169,073 shares in the company, valued at $8,808,703.30. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ON Semiconductor

Several large investors have recently made changes to their positions in ON. Envestnet Asset Management Inc. lifted its position in shares of ON Semiconductor by 10.6% in the second quarter. Envestnet Asset Management Inc. now owns 375,799 shares of the semiconductor company’s stock worth $18,906,000 after buying an additional 36,151 shares in the last quarter. Biechele Royce Advisors lifted its position in shares of ON Semiconductor by 12.1% in the second quarter. Biechele Royce Advisors now owns 163,455 shares of the semiconductor company’s stock worth $8,223,000 after buying an additional 17,635 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in shares of ON Semiconductor by 15.0% in the second quarter. Janney Montgomery Scott LLC now owns 44,096 shares of the semiconductor company’s stock worth $2,329,000 after buying an additional 5,750 shares in the last quarter. Assetmark Inc. purchased a new stake in shares of ON Semiconductor in the second quarter worth about $27,000. Finally, Retirement Systems of Alabama purchased a new stake in shares of ON Semiconductor in the second quarter worth about $7,247,000. 92.86% of the stock is currently owned by hedge funds and other institutional investors.

About ON Semiconductor

(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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