ON Semiconductor (NASDAQ:ON) to Repurchase $6.00 billion in Outstanding Stock

ON Semiconductor (NASDAQ:ON) announced that its board has initiated a share buyback program on Tuesday, November 18th, RTT News reports. The company plans to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to buy up to 32.7% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on ON shares. Rosenblatt Securities reissued a “neutral” rating and issued a $50.00 target price on shares of ON Semiconductor in a report on Tuesday, November 4th. Needham & Company LLC lifted their price objective on shares of ON Semiconductor from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, August 4th. B. Riley restated a “neutral” rating on shares of ON Semiconductor in a research report on Tuesday, August 5th. Morgan Stanley lifted their price target on ON Semiconductor from $52.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 4th. Finally, Piper Sandler restated an “overweight” rating on shares of ON Semiconductor in a research report on Monday, August 4th. Fourteen analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $59.08.

ON Semiconductor Price Performance

ON stock opened at $45.56 on Wednesday. The stock has a market cap of $18.33 billion, a PE ratio of 42.58, a P/E/G ratio of 2.58 and a beta of 1.56. ON Semiconductor has a 12 month low of $31.04 and a 12 month high of $74.52. The company has a 50-day moving average price of $49.88 and a 200 day moving average price of $50.40. The company has a current ratio of 5.02, a quick ratio of 3.37 and a debt-to-equity ratio of 0.42.

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. Equities research analysts anticipate that ON Semiconductor will post 2.6 earnings per share for the current year.

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.