ON Semiconductor Corp. Stock Rating Lowered by Goldman Sachs Group Inc. (ONNN)
ON Semiconductor Corp. (NASDAQ:ONNN) was downgraded by equities research analysts at Goldman Sachs Group Inc. from a “buy” rating to a “neutral” rating in a research note issued to investors on Thursday, TheFlyOnTheWall.com reports.
Shares of ON Semiconductor Corp. (NASDAQ:ONNN) opened at 8.24 on Thursday. ON Semiconductor Corp. has a 1-year low of $6.80 and a 1-year high of $8.73. The stock’s 50-day moving average is $7.44 and its 200-day moving average is $7.52. The company’s market cap is $3.662 billion.
ON Semiconductor Corp. (NASDAQ:ONNN) last released its earnings data on Thursday, October 31st. The company reported $0.17 earnings per share for the quarter, beating the analysts’ 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.
Several other analysts have also recently commented on the stock. Analysts at MKM Partners downgraded shares of ON Semiconductor Corp. from a “buy” rating to a “neutral” rating in a research note to investors on Monday, November 18th. They now have a $8.00 price target on the stock, down previously from $10.00. Separately, analysts at Stifel Nicolaus cut their price target on shares of ON Semiconductor Corp. from $9.00 to $8.50 in a research note to investors on Friday, November 1st. They now have a “buy” rating on the stock. Finally, analysts at Morgan Stanley cut their price target on shares of ON Semiconductor Corp. from $7.00 to $6.50 in a research note to investors on Friday, November 1st. They now have an “underweight” rating on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the stock. ON Semiconductor Corp. currently has an average rating of “Buy” and an average target price of $8.67.
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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