ON Semiconductor Corp. Price Target Cut to $6.50 (ONNN)
Equities researchers at Morgan Stanley decreased their target price on shares of ON Semiconductor Corp. (NASDAQ:ONNN) from $7.00 to $6.50 in a research report issued on Friday, Analyst Ratings Network reports. The firm currently has an “underweight” rating on the stock. Morgan Stanley’s target price would suggest a potential downside of 13.56% from the company’s current price.
A number of other firms have also recently commented on ONNN. Analysts at Zacks reiterated a “neutral” rating on shares of ON Semiconductor Corp. in a research note to investors on Friday. They now have a $7.50 price target on the stock. Separately, 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. Finally, 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. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $8.98.
ON Semiconductor Corp. (NASDAQ:ONNN) traded up 6.59% on Friday, hitting $7.52. 14,669,407 shares of the company’s stock traded hands. ON Semiconductor Corp. has a 52 week low of $5.70 and a 52 week high of $8.73. The stock has a 50-day moving average of $7.19 and a 200-day moving average of $7.6. The company’s market cap is $3.383 billion.
ON Semiconductor Corp. (NASDAQ:ONNN) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.01. The company had revenue of $715.40 million for the quarter, compared to the consensus estimate of $716.32 million. During the same quarter last year, the company posted $0.12 earnings per share. ON Semiconductor Corp.’s revenue was down 1.4% compared to the same quarter last year. Analysts expect that ON Semiconductor Corp. will post $0.54 EPS for the current fiscal year.
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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