ON Semiconductor Corp. Given Neutral Rating at Zacks (ONNN)
ON Semiconductor Corp. (NASDAQ:ONNN)‘s stock had its “neutral” rating reiterated by Zacks in a research note issued to investors on Friday, Analyst Ratings.Net reports. They currently have a $8.75 target price on the stock. Zacks‘ price objective suggests a potential upside of 5.17% from the stock’s previous close.
Zacks‘ analyst wrote, “ON Semiconductor is an OEM of primarily analog semiconductors used in diverse end markets. December quarter earnings were above the Zacks Consensus. There are signs of a much stronger first quarter, driven by design wins across multiple markets and possible share gains. However, while improving end markets, acquisitions, product breadth, diversification across end markets and geographies, and the benefits of restructuring actions are positives, the significant debt position, ever-increasing competition and integration risks related to SANYO remain concerns. We have a Neutral recommendation on ONNN shares.”
ON Semiconductor Corp. (NASDAQ:ONNN) traded up 9.50% on Friday, hitting $9.11. The stock had a trading volume of 25,641,782 shares. ON Semiconductor Corp. has a 1-year low of $6.80 and a 1-year high of $8.97. The stock has a 50-day moving average of $8.36 and a 200-day moving average of $7.59. The company’s market cap is $4.049 billion.
ON Semiconductor Corp. (NASDAQ:ONNN) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.17 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.14 by $0.03. The company had revenue of $718.00 million for the quarter, compared to the consensus estimate of $691.29 million. During the same quarter in the prior year, the company posted $0.08 earnings per share. The company’s quarterly revenue was up 5.6% on a year-over-year basis. On average, analysts predict that ON Semiconductor Corp. will post $0.70 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Raymond James raised their price target on shares of ON Semiconductor Corp. from $8.00 to $9.00 in a research note to investors on Friday. Separately, analysts at FBR Capital Markets raised their price target on shares of ON Semiconductor Corp. from $10.50 to $11.00 in a research note to investors on Friday. Finally, analysts at Pacific Crest raised their price target on shares of ON Semiconductor Corp. from $9.00 to $10.00 in a research note to investors on Friday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. ON Semiconductor Corp. currently has an average rating of “Hold” and an average target price of $9.45.
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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