Rosenblatt Securities Lowers ON Semiconductor (NASDAQ:ON) Price Target to $75.00

ON Semiconductor (NASDAQ:ON) had its price target reduced by research analysts at Rosenblatt Securities from $100.00 to $75.00 in a report released on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the semiconductor company’s stock. Rosenblatt Securities’ price objective indicates a potential upside of 15.67% from the company’s current price.

A number of other research firms have also recently issued reports on ON. Craig Hallum cut ON Semiconductor from a “buy” rating to a “hold” rating and cut their target price for the company from $132.00 to $78.00 in a research note on Monday. BMO Capital Markets raised their target price on ON Semiconductor from $105.00 to $110.00 and gave the company a “market perform” rating in a research note on Tuesday, August 1st. Wolfe Research initiated coverage on ON Semiconductor in a research note on Wednesday, July 19th. They issued a “peer perform” rating on the stock. Susquehanna cut their target price on ON Semiconductor from $130.00 to $110.00 and set a “positive” rating on the stock in a research note on Tuesday, October 24th. Finally, Citigroup raised their target price on ON Semiconductor from $118.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, August 1st. Fourteen equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $97.88.

ON Semiconductor Stock Performance

ON Semiconductor stock opened at $64.84 on Tuesday. The company has a market cap of $28.00 billion, a PE ratio of 13.07, a P/E/G ratio of 1.67 and a beta of 1.77. The company has a fifty day moving average price of $90.87 and a two-hundred day moving average price of $90.14. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.44 and a quick ratio of 1.60. ON Semiconductor has a 12 month low of $58.43 and a 12 month high of $111.35.

ON Semiconductor (NASDAQ:ON) last released its quarterly earnings data on Monday, October 30th. The semiconductor company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.05. The firm had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.15 billion. ON Semiconductor had a net margin of 26.69% and a return on equity of 33.78%. The firm’s revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.45 earnings per share. Research analysts expect that ON Semiconductor will post 5.24 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Christine Y. Yan sold 3,624 shares of ON Semiconductor stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $92.16, for a total value of $333,987.84. Following the transaction, the director now owns 38,532 shares of the company’s stock, valued at approximately $3,551,109.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other ON Semiconductor news, Director Christine Y. Yan sold 3,624 shares of ON Semiconductor stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $92.16, for a total transaction of $333,987.84. Following the transaction, the director now owns 38,532 shares of the company’s stock, valued at approximately $3,551,109.12. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Bernard Raymond Colpitts, Jr. sold 2,795 shares of ON Semiconductor stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $99.18, for a total value of $277,208.10. Following the transaction, the chief accounting officer now directly owns 32,050 shares in the company, valued at approximately $3,178,719. The disclosure for this sale can be found here. 0.27% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ON Semiconductor

Institutional investors and hedge funds have recently bought and sold shares of the business. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of ON Semiconductor by 2.2% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 37,796 shares of the semiconductor company’s stock valued at $3,575,000 after buying an additional 822 shares during the last quarter. Mutual Advisors LLC acquired a new stake in shares of ON Semiconductor during the 2nd quarter valued at about $244,000. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in shares of ON Semiconductor by 85,638.8% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 99,180,073 shares of the semiconductor company’s stock valued at $9,380,451,000 after buying an additional 99,064,396 shares during the last quarter. Creative Planning lifted its holdings in shares of ON Semiconductor by 45.5% during the 2nd quarter. Creative Planning now owns 21,348 shares of the semiconductor company’s stock valued at $2,019,000 after buying an additional 6,673 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new stake in shares of ON Semiconductor during the 2nd quarter valued at about $240,000. Hedge funds and other institutional investors own 96.36% of the company’s stock.

ON Semiconductor Company Profile

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.