ON Semiconductor Corp. (ONNN) – Investment Analysts’ Weekly Ratings Changes
ON Semiconductor Corp. (NASDAQ: ONNN) received a number of ratings updates from brokerages and research firms in the last week:
- ON Semiconductor Corp. had its price target raised by analysts at Morgan Stanley from $6.50 to $7.00. They now have an “underweight” rating on the stock. They wrote, “The improvement in ON’s business is encouraging, although [that] should not prove that surprising given the company’s bullish tone earlier this year at CES. The SANYO business (now called SSG) was break-even in the quarter, representing an important milestone. That said, we expect only modest improvement in SSG profitability in absence of stronger revenue growth. At the same time, the company is reinstating variable comp for the core ON business, which will offset some of the opex savings expected in SSG. Net, net, while ON’s business is showing initial signs of recovery, we remain Underweight relative to other names in our universe that have stronger growth prospects and/or operating leverage.”
- ON Semiconductor Corp. had its price target raised by analysts at Raymond James from $8.00 to $9.00.
- ON Semiconductor Corp. had its price target raised by analysts at Pacific Crest from $9.00 to $10.00.
- ON Semiconductor Corp. had its “neutral” rating reaffirmed by analysts at Zacks. They now have a $8.75 price target on the stock. 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. had its price target raised by analysts at Susquehanna to $11.00.
- ON Semiconductor Corp. had its price target raised by analysts at FBR Capital Markets from $10.50 to $11.00.
- ON Semiconductor Corp. was upgraded by analysts at TheStreet from a “hold” rating to a “buy” rating. They wrote, “ON Semiconductor Corporation (ONNN) has been upgraded by TheStreet Ratings from hold to buy. The company’s strengths can be seen in multiple areas, such as its revenue growth, impressive record of earnings per share growth, compelling growth in net income, reasonable valuation levels and expanding profit margins. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook.”
Shares of ON Semiconductor Corp. (NASDAQ:ONNN) opened at 8.97 on Wednesday. ON Semiconductor Corp. has a 52 week low of $6.80 and a 52 week high of $9.27. The stock has a 50-day moving average of $8.46 and a 200-day moving average of $7.60. The company has a market cap of $3.969 billion and a price-to-earnings ratio of 24.67. ON Semiconductor Corp. also was the target of a large decline in short interest during the month of January. As of January 31st, there was short interest totalling 6,422,131 shares, a decline of 41.1% from the January 15th total of 10,896,565 shares. Based on an average trading volume of 5,506,285 shares, the short-interest ratio is presently 1.2 days. Approximately 1.5% of the shares of the stock are sold short.
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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