ON Semiconductor Corp. Price Target Raised to $10.00 at Pacific Crest (ONNN)
Research analysts at Pacific Crest hoisted their price objective on shares of ON Semiconductor Corp. (NASDAQ:ONNN) from $9.00 to $10.00 in a report released on Friday, Analyst RN reports. Pacific Crest’s price objective suggests a potential upside of 10.68% from the stock’s previous close.
ON Semiconductor Corp. (NASDAQ:ONNN) traded up 8.59% on Friday, hitting $9.035. The stock had a trading volume of 29,480,728 shares. ON Semiconductor Corp. has a 52 week low of $6.80 and a 52 week high of $9.27. The stock’s 50-day moving average is $8.40 and its 200-day moving average is $7.59. The company’s market cap is $4.015 billion.
ON Semiconductor Corp. (NASDAQ:ONNN) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.08 earnings per share. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. Analysts expect that ON Semiconductor Corp. will post $0.70 EPS for the current fiscal year.
A number of other firms have also recently commented on ONNN. Analysts at Morgan Stanley raised their price target on shares of ON Semiconductor Corp. from $6.50 to $7.00 in a research note to investors on Friday. They now have an “underweight” rating on the stock. Separately, analysts at Susquehanna raised their price target on shares of ON Semiconductor Corp. to $11.00 in a research note to investors on Friday. Finally, analysts at FBR Capital Markets upgraded shares of ON Semiconductor Corp. to a “top pick” rating in a research note to investors on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. ON Semiconductor Corp. presently has a consensus rating of “Hold” and a consensus price target 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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