ON Semiconductor Corporation (NASDAQ:ON) Receives Average Rating of “Hold” from Brokerages

ON Semiconductor Corporation (NASDAQ:ON) has earned an average rating of “Hold” from the twenty-four ratings firms that are covering the stock, MarketBeat.com reports. Thirteen analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $56.13.

A number of brokerages have weighed in on ON. Rosenblatt Securities restated a “neutral” rating and issued a $42.00 price objective on shares of ON Semiconductor in a report on Tuesday, May 6th. Roth Capital restated a “buy” rating and issued a $70.00 price target (up previously from $50.00) on shares of ON Semiconductor in a research note on Tuesday, June 17th. Robert W. Baird lowered their price objective on ON Semiconductor from $42.00 to $34.00 and set a “neutral” rating for the company in a research note on Tuesday, May 6th. Citigroup boosted their target price on ON Semiconductor from $40.00 to $60.00 and gave the stock a “neutral” rating in a report on Monday, July 7th. Finally, Mizuho raised their price target on ON Semiconductor from $60.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, June 26th.

ON Semiconductor Price Performance

Shares of ON Semiconductor stock opened at $58.05 on Thursday. The company has a debt-to-equity ratio of 0.42, a current ratio of 4.95 and a quick ratio of 3.32. ON Semiconductor has a one year low of $31.04 and a one year high of $79.45. The business’s 50 day simple moving average is $53.24 and its two-hundred day simple moving average is $47.83. The stock has a market capitalization of $24.26 billion, a P/E ratio of 40.31, a price-to-earnings-growth ratio of 4.80 and a beta of 1.43.

ON Semiconductor (NASDAQ:ON) last announced its quarterly earnings results on Monday, May 5th. The semiconductor company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 previous year, the business earned $1.08 EPS. ON Semiconductor’s revenue was down 22.4% compared to the same quarter last year. Analysts forecast that ON Semiconductor will post 2.6 EPS for the current year.

Institutional Investors Weigh In On ON Semiconductor

Several institutional investors have recently bought and sold shares of the company. Golden State Wealth Management LLC lifted its holdings in shares of ON Semiconductor by 83.3% during the first quarter. Golden State Wealth Management LLC now owns 704 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 320 shares during the period. Sowell Financial Services LLC acquired a new stake in ON Semiconductor during the 1st quarter valued at approximately $222,000. Wealth Enhancement Advisory Services LLC increased its stake in shares of ON Semiconductor by 15.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 16,975 shares of the semiconductor company’s stock worth $1,070,000 after acquiring an additional 2,209 shares during the period. Exchange Traded Concepts LLC raised its holdings in shares of ON Semiconductor by 57.0% during the first quarter. Exchange Traded Concepts LLC now owns 6,482 shares of the semiconductor company’s stock worth $264,000 after purchasing an additional 2,353 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its holdings in shares of ON Semiconductor by 1,453.0% during the first quarter. Teacher Retirement System of Texas now owns 62,274 shares of the semiconductor company’s stock worth $2,534,000 after purchasing an additional 58,264 shares during the last quarter. 97.70% of the stock is currently owned by institutional investors and hedge funds.

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.