ON Semiconductor Corporation (NASDAQ:ON) Receives Average Rating of “Moderate Buy” from Analysts

ON Semiconductor Corporation (NASDAQ:ON) has received a consensus rating of “Moderate Buy” from the twenty-six research firms that are presently covering the stock, Marketbeat reports. Twelve research analysts have rated the stock with a hold recommendation and fourteen have given a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $56.08.

ON has been the subject of several research reports. Citigroup reduced their target price on ON Semiconductor from $52.00 to $40.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Roth Capital reaffirmed a “buy” rating and issued a $70.00 target price (up from $50.00) on shares of ON Semiconductor in a research report on Tuesday, June 17th. TD Cowen raised their target price on ON Semiconductor from $38.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, May 6th. Wells Fargo & Company raised their target price on ON Semiconductor from $45.00 to $60.00 and gave the stock an “overweight” rating in a research report on Monday, June 16th. Finally, Robert W. Baird reduced their target price on ON Semiconductor from $42.00 to $34.00 and set a “neutral” rating for the company in a research report on Tuesday, May 6th.

ON Semiconductor Trading Up 1.5%

Shares of ON Semiconductor stock opened at $56.80 on Friday. The company’s fifty day simple moving average is $47.17 and its 200-day simple moving average is $48.32. The company has a market cap of $23.73 billion, a price-to-earnings ratio of 39.44, a PEG ratio of 4.67 and a beta of 1.43. The company has a current ratio of 4.95, a quick ratio of 3.32 and a debt-to-equity ratio of 0.42. ON Semiconductor has a 1 year low of $31.04 and a 1 year high of $80.08.

ON Semiconductor (NASDAQ:ON) last announced its quarterly earnings data on Monday, May 5th. The semiconductor company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.04. The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.40 billion. ON Semiconductor had a net margin of 9.51% and a return on equity of 17.40%. ON Semiconductor’s quarterly revenue was down 22.4% on a year-over-year basis. During the same quarter last year, the company posted $1.08 earnings per share. As a group, sell-side analysts expect that ON Semiconductor will post 2.6 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ON. Norges Bank bought a new position in shares of ON Semiconductor in the 4th quarter valued at about $378,312,000. Baillie Gifford & Co. bought a new position in shares of ON Semiconductor in the 1st quarter valued at about $219,001,000. Pacer Advisors Inc. boosted its stake in shares of ON Semiconductor by 2,735.5% in the 1st quarter. Pacer Advisors Inc. now owns 2,146,221 shares of the semiconductor company’s stock valued at $87,330,000 after purchasing an additional 2,070,529 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of ON Semiconductor by 26.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,061,245 shares of the semiconductor company’s stock valued at $203,462,000 after purchasing an additional 1,055,461 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its stake in shares of ON Semiconductor by 9.2% in the 4th quarter. Janus Henderson Group PLC now owns 12,377,264 shares of the semiconductor company’s stock valued at $780,387,000 after purchasing an additional 1,041,989 shares during the last quarter. Institutional investors 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.