ON Semiconductor’s (ON) Neutral Rating Reaffirmed at B. Riley

ON Semiconductor (NASDAQ:ON)‘s stock had its “neutral” rating restated by investment analysts at B. Riley in a research report issued to clients and investors on Wednesday, MarketBeat Ratings reports. They currently have a $56.00 target price on the semiconductor company’s stock, up from their prior target price of $40.00. B. Riley’s target price would suggest a potential upside of 7.16% from the company’s previous close.

ON has been the topic of several other research reports. Robert W. Baird decreased their target price on ON Semiconductor from $42.00 to $34.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 6th. Loop Capital decreased their target price on ON Semiconductor from $65.00 to $55.00 and set a “buy” rating on the stock in a research report on Tuesday, May 6th. JPMorgan Chase & Co. decreased their target price on ON Semiconductor from $60.00 to $48.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 6th. Cantor Fitzgerald initiated coverage on ON Semiconductor in a research report on Wednesday. They set a “neutral” rating and a $55.00 price target on the stock. Finally, Roth Capital reissued a “buy” rating and set a $70.00 price target (up previously from $50.00) on shares of ON Semiconductor in a research report on Tuesday. Thirteen equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $55.62.

ON Semiconductor Price Performance

Shares of NASDAQ ON opened at $52.26 on Wednesday. The business’s 50 day moving average price is $42.83 and its two-hundred day moving average price is $49.55. The company has a market cap of $21.84 billion, a PE ratio of 36.29, a price-to-earnings-growth ratio of 4.31 and a beta of 1.39. The company has a quick ratio of 3.32, a current ratio of 4.95 and a debt-to-equity ratio of 0.42. ON Semiconductor has a twelve month low of $31.04 and a twelve month high of $80.08.

ON Semiconductor (NASDAQ:ON) last posted its earnings results on Monday, May 5th. The semiconductor company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.51 by $0.04. ON Semiconductor had a return on equity of 17.40% and a net margin of 9.51%. The company had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the prior year, the business earned $1.08 earnings per share. The firm’s revenue for the quarter was down 22.4% on a year-over-year basis. On average, analysts predict that ON Semiconductor will post 2.6 EPS for the current year.

Institutional Investors Weigh In On ON Semiconductor

Several hedge funds have recently modified their holdings of ON. Savant Capital LLC boosted its holdings in shares of ON Semiconductor by 9.9% during the 4th quarter. Savant Capital LLC now owns 3,297 shares of the semiconductor company’s stock valued at $208,000 after acquiring an additional 297 shares in the last quarter. Principal Securities Inc. boosted its holdings in shares of ON Semiconductor by 26.9% during the 4th quarter. Principal Securities Inc. now owns 3,972 shares of the semiconductor company’s stock valued at $250,000 after acquiring an additional 841 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in shares of ON Semiconductor by 3.1% during the 4th quarter. CIBC Asset Management Inc now owns 136,971 shares of the semiconductor company’s stock valued at $8,636,000 after acquiring an additional 4,068 shares in the last quarter. D.A. Davidson & CO. boosted its holdings in shares of ON Semiconductor by 9.0% during the 4th quarter. D.A. Davidson & CO. now owns 7,698 shares of the semiconductor company’s stock valued at $485,000 after acquiring an additional 637 shares in the last quarter. Finally, Venturi Wealth Management LLC boosted its holdings in shares of ON Semiconductor by 1,126.2% during the 4th quarter. Venturi Wealth Management LLC now owns 6,548 shares of the semiconductor company’s stock valued at $413,000 after acquiring an additional 6,014 shares in the last quarter. Institutional investors and hedge funds own 97.70% of the company’s stock.

About ON Semiconductor

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.