ON Semiconductor (NASDAQ:ON) Given New $60.00 Price Target at TD Cowen

ON Semiconductor (NASDAQ:ON) had its price objective increased by TD Cowen from $55.00 to $60.00 in a research note published on Tuesday, MarketBeat reports. TD Cowen currently has a buy rating on the semiconductor company’s stock.

Several other analysts also recently weighed in on the stock. Piper Sandler reaffirmed an “overweight” rating on shares of ON Semiconductor in a research note on Monday, August 4th. Needham & Company LLC lifted their price target on shares of ON Semiconductor from $50.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, August 4th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of ON Semiconductor in a research note on Wednesday, October 8th. Truist Financial lifted their price target on shares of ON Semiconductor from $43.00 to $49.00 and gave the company a “hold” rating in a research note on Tuesday, August 5th. Finally, KeyCorp lifted their price target on shares of ON Semiconductor from $50.00 to $65.00 and gave the company an “overweight” rating in a research note on Tuesday, July 8th. Fourteen equities research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $59.08.

ON Semiconductor Stock Down 4.3%

Shares of NASDAQ ON opened at $48.28 on Tuesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 5.02 and a quick ratio of 3.37. The company has a market cap of $19.75 billion, a P/E ratio of 45.12, a PEG ratio of 2.58 and a beta of 1.49. ON Semiconductor has a 1 year low of $31.04 and a 1 year high of $74.52. The firm has a 50-day simple moving average of $50.14 and a two-hundred day simple moving average of $49.74.

ON Semiconductor (NASDAQ:ON) last announced its quarterly earnings data on Monday, November 3rd. The semiconductor company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.04. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.52 billion. ON Semiconductor had a net margin of 7.28% and a return on equity of 15.33%. The firm’s quarterly revenue was down 12.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.99 earnings per share. ON Semiconductor has set its Q4 2025 guidance at 0.570-0.670 EPS. Research analysts anticipate that ON Semiconductor will post 2.6 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Hassane El-Khoury sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $51.22, for a total value of $768,300.00. Following the completion of the transaction, the chief executive officer owned 977,814 shares of the company’s stock, valued at $50,083,633.08. The trade was a 1.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.31% of the stock is owned by company insiders.

Hedge Funds Weigh In On ON Semiconductor

Several institutional investors and hedge funds have recently bought and sold shares of the company. Penserra Capital Management LLC grew its holdings in ON Semiconductor by 47.4% in the third quarter. Penserra Capital Management LLC now owns 553,871 shares of the semiconductor company’s stock worth $27,309,000 after purchasing an additional 178,076 shares during the last quarter. Strengthening Families & Communities LLC grew its holdings in ON Semiconductor by 21,300.0% in the third quarter. Strengthening Families & Communities LLC now owns 7,704 shares of the semiconductor company’s stock worth $382,000 after purchasing an additional 7,668 shares during the last quarter. Allianz Asset Management GmbH grew its holdings in ON Semiconductor by 0.9% in the third quarter. Allianz Asset Management GmbH now owns 95,421 shares of the semiconductor company’s stock worth $4,705,000 after purchasing an additional 815 shares during the last quarter. Simmons Bank grew its holdings in ON Semiconductor by 4.1% in the third quarter. Simmons Bank now owns 45,239 shares of the semiconductor company’s stock worth $2,231,000 after purchasing an additional 1,772 shares during the last quarter. Finally, Atlantic Union Bankshares Corp purchased a new position in ON Semiconductor in the third quarter worth $737,000. 97.70% of the stock is owned by hedge funds and other institutional investors.

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.