ON Semiconductor Corp. (ONNN) Posts Quarterly Results
ON Semiconductor Corp. (NASDAQ:ONNN) released its earnings data on Thursday. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.01, Analyst Ratings Network.com reports. The company had revenue of $715.40 million for the quarter, compared to the consensus estimate of $716.32 million. During the same quarter in the previous year, the company posted $0.12 earnings per share. The company’s revenue for the quarter was down 1.4% on a year-over-year basis.
Shares of ON Semiconductor Corp. (NASDAQ:ONNN) traded up 0.93% on Thursday, hitting $7.055. The stock had a trading volume of 11,650,346 shares. ON Semiconductor Corp. has a one year low of $5.70 and a one year high of $8.73. The stock has a 50-day moving average of $7.21 and a 200-day moving average of $7.70. The company’s market cap is $3.174 billion.
ONNN has been the subject of a number of recent research reports. Analysts at Wedbush cut their price target on shares of ON Semiconductor Corp. from $9.00 to $8.00 in a research note to investors on Monday. They now have an “outperform” rating on the stock. On a related note, analysts at Raymond James cut their price target on shares of ON Semiconductor Corp. from $10.00 to $8.00 in a research note to investors on Thursday, October 10th. They now have an “outperform” rating on the stock. Finally, analysts at Morgan Stanley initiated coverage on shares of ON Semiconductor Corp. in a research note to investors on Friday, August 16th. They set an “underweight” rating on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company’s stock. ON Semiconductor Corp. currently has an average rating of “Buy” and a consensus price target of $9.27.
ON Semiconductor Corporation (NASDAQ:ONNN) designs, manufactures and markets a portfolio of semiconductor components that address the design needs of electronic systems and products.
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