ON Semiconductor (NASDAQ:ON) Price Target Raised to $50.00

ON Semiconductor (NASDAQ:ON) had its price target boosted by Stifel Nicolaus from $42.00 to $50.00 in a research report released on Friday,Benzinga reports. Stifel Nicolaus currently has a hold rating on the semiconductor company’s stock.

Other equities analysts have also recently issued reports about the company. JPMorgan Chase & Co. reduced their price objective on ON Semiconductor from $60.00 to $48.00 and set a “neutral” rating for the company in a report on Tuesday, May 6th. Robert W. Baird reduced their price objective on ON Semiconductor from $42.00 to $34.00 and set a “neutral” rating for the company in a report on Tuesday, May 6th. TD Cowen lifted their price objective on ON Semiconductor from $38.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday, May 6th. Morgan Stanley began coverage on ON Semiconductor in a report on Monday, May 12th. They set an “equal weight” rating and a $39.00 price objective for the company. Finally, KeyCorp lifted their price objective on ON Semiconductor from $50.00 to $65.00 and gave the stock an “overweight” rating in a report on Tuesday, July 8th. Fourteen analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $58.15.

ON Semiconductor Stock Up 2.2%

ON Semiconductor stock opened at $60.72 on Friday. ON Semiconductor has a twelve month low of $31.04 and a twelve month high of $80.08. The stock has a 50 day moving average of $50.98 and a two-hundred day moving average of $47.74. The company has a current ratio of 4.95, a quick ratio of 3.32 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $25.37 billion, a price-to-earnings ratio of 42.17, a PEG ratio of 5.01 and a beta of 1.43.

ON Semiconductor (NASDAQ:ON) last posted its quarterly 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. The business had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.40 billion. ON Semiconductor had a return on equity of 17.40% and a net margin of 9.51%. The company’s quarterly revenue was down 22.4% compared to the same quarter last year. During the same period last year, the firm earned $1.08 EPS. As a group, research analysts expect that ON Semiconductor will post 2.6 earnings per share for the current year.

Institutional Investors Weigh In On ON Semiconductor

Several institutional investors and hedge funds have recently modified their holdings of ON. Vanguard Group Inc. boosted its holdings in ON Semiconductor by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 51,135,303 shares of the semiconductor company’s stock valued at $3,224,081,000 after purchasing an additional 344,354 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in ON Semiconductor by 9.2% in the fourth 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. Ameriprise Financial Inc. boosted its holdings in ON Semiconductor by 1.0% in the first quarter. Ameriprise Financial Inc. now owns 11,328,463 shares of the semiconductor company’s stock valued at $460,958,000 after purchasing an additional 110,735 shares during the last quarter. Norges Bank purchased a new position in ON Semiconductor in the fourth quarter valued at about $378,312,000. Finally, Baillie Gifford & Co. purchased a new position in ON Semiconductor in the first quarter valued at about $219,001,000. Hedge funds and other institutional investors own 97.70% 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.