ON Semiconductor (NASDAQ:ON) Price Target Lowered to $54.00 at Citigroup

ON Semiconductor (NASDAQ:ON) had its target price cut by Citigroup from $60.00 to $54.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a neutral rating on the semiconductor company’s stock.

Several other equities research analysts also recently issued reports on the company. Bank of America restated a “neutral” rating and set a $56.00 target price (down previously from $70.00) on shares of ON Semiconductor in a research report on Tuesday. Robert W. Baird dropped their price objective on ON Semiconductor from $42.00 to $34.00 and set a “neutral” rating on the stock in a report on Tuesday, May 6th. Mizuho raised their target price on ON Semiconductor from $60.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, June 26th. B. Riley reiterated a “neutral” rating and set a $56.00 price target (up from $40.00) on shares of ON Semiconductor in a research report on Wednesday, June 18th. Finally, Needham & Company LLC raised their price objective on shares of ON Semiconductor from $50.00 to $58.00 and gave the company a “buy” rating in a research report on Monday. Fifteen research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $56.84.

ON Semiconductor Stock Down 1.5%

Shares of NASDAQ:ON opened at $47.24 on Tuesday. ON Semiconductor has a 1 year low of $31.04 and a 1 year high of $78.61. The company has a market capitalization of $19.74 billion, a PE ratio of 44.15, a price-to-earnings-growth ratio of 3.94 and a beta of 1.45. The business has a fifty day moving average price of $54.05 and a two-hundred day moving average price of $47.71. The company has a debt-to-equity ratio of 0.42, a current ratio of 5.02 and a quick ratio of 3.32.

ON Semiconductor (NASDAQ:ON) last released its earnings results on Monday, August 4th. The semiconductor company reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.01). The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.45 billion. ON Semiconductor had a net margin of 7.28% and a return on equity of 15.33%. The firm’s revenue was down 15.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.96 earnings per share. Analysts forecast that ON Semiconductor will post 2.6 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Golden State Wealth Management LLC increased 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 valued at $29,000 after acquiring an additional 320 shares in the last quarter. Sowell Financial Services LLC bought a new position in ON Semiconductor in the 1st quarter worth about $222,000. Wealth Enhancement Advisory Services LLC grew its position in ON Semiconductor by 15.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 16,975 shares of the semiconductor company’s stock valued at $1,070,000 after purchasing an additional 2,209 shares during the last quarter. Exchange Traded Concepts LLC increased its stake in ON Semiconductor by 57.0% during the 1st quarter. Exchange Traded Concepts LLC now owns 6,482 shares of the semiconductor company’s stock valued at $264,000 after purchasing an additional 2,353 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its holdings in ON Semiconductor by 1,453.0% in the first quarter. Teacher Retirement System of Texas now owns 62,274 shares of the semiconductor company’s stock worth $2,534,000 after buying an additional 58,264 shares during the last quarter. 97.70% of the stock is owned by hedge funds and other institutional investors.

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.