ON Semiconductor (NASDAQ:ON) Coverage Initiated by Analysts at StockNews.com

Stock analysts at StockNews.com initiated coverage on shares of ON Semiconductor (NASDAQ:ON – Get Rating) in a research note issued on Thursday. The brokerage set a “hold” rating on the semiconductor company’s stock.

ON has been the subject of a number of other reports. B. Riley lifted their target price on shares of ON Semiconductor from $80.00 to $105.00 in a research note on Monday, February 6th. 888 reiterated a “maintains” rating on shares of ON Semiconductor in a research note on Wednesday. Wells Fargo & Company raised their price target on shares of ON Semiconductor from $75.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 7th. JPMorgan Chase & Co. raised their price target on shares of ON Semiconductor from $70.00 to $90.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 7th. Finally, Citigroup raised their price target on shares of ON Semiconductor from $75.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, February 8th. Seven investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, ON Semiconductor has an average rating of “Moderate Buy” and an average price target of $91.08.

ON Semiconductor Stock Up 3.1 %

NASDAQ:ON opened at $85.63 on Thursday. ON Semiconductor has a fifty-two week low of $44.76 and a fifty-two week high of $87.55. The stock has a market capitalization of $36.98 billion, a P/E ratio of 20.89, a P/E/G ratio of 4.57 and a beta of 1.74. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.51 and a current ratio of 2.22. The company’s 50-day simple moving average is $78.25 and its 200-day simple moving average is $73.72.

ON Semiconductor (NASDAQ:ON – Get Rating) last released its quarterly earnings results on Monday, May 1st. The semiconductor company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.10. The business had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.93 billion. ON Semiconductor had a net margin of 21.98% and a return on equity of 39.27%. The company’s revenue was up .8% compared to the same quarter last year. During the same period last year, the business earned $1.22 EPS. On average, equities analysts anticipate that ON Semiconductor will post 4.83 earnings per share for the current fiscal year.

ON Semiconductor announced that its Board of Directors has initiated a stock repurchase program on Monday, February 6th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to reacquire up to 8.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other ON Semiconductor news, CEO Hassane El-Khoury sold 5,000 shares of ON Semiconductor stock in a transaction on Wednesday, March 15th. The shares were sold at an average price of $79.18, for a total transaction of $395,900.00. Following the sale, the chief executive officer now owns 606,212 shares of the company’s stock, valued at approximately $47,999,866.16. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold a total of 15,000 shares of company stock valued at $1,190,200 in the last 90 days. 0.27% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. GHP Investment Advisors Inc. boosted its position in shares of ON Semiconductor by 66.3% during the 3rd quarter. GHP Investment Advisors Inc. now owns 825 shares of the semiconductor company’s stock valued at $51,000 after acquiring an additional 329 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position in ON Semiconductor by 0.7% in the third quarter. Public Employees Retirement System of Ohio now owns 252,326 shares of the semiconductor company’s stock valued at $15,727,000 after buying an additional 1,721 shares during the last quarter. Steel Peak Wealth Management LLC lifted its position in ON Semiconductor by 86.4% in the fourth quarter. Steel Peak Wealth Management LLC now owns 17,071 shares of the semiconductor company’s stock valued at $1,065,000 after buying an additional 7,915 shares during the last quarter. First Republic Investment Management Inc. lifted its position in ON Semiconductor by 3,565.6% in the third quarter. First Republic Investment Management Inc. now owns 481,186 shares of the semiconductor company’s stock valued at $29,992,000 after buying an additional 468,059 shares during the last quarter. Finally, UBS Oconnor LLC acquired a new position in ON Semiconductor in the third quarter valued at about $2,043,000. Institutional investors and hedge funds own 96.84% of the company’s stock.

ON Semiconductor Company Profile

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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.