Share on StockTwits

ON Semiconductor Corp (NASDAQ:ONNN)‘s stock had its “neutral” rating reaffirmed by Zacks in a research note issued on Friday. They currently have a $9.50 target price on the stock. Zacks‘s price target suggests a potential upside of 5.91% from the company’s current price.

Zacks’ analyst wrote, “ON Semiconductor is an OEM of primarily analog semiconductors used in diverse end markets. First quarter earnings were above the Zacks Consensus. There are signs of a much stronger second 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 therefore have a Neutral recommendation on ONNN shares.”

Shares of ON Semiconductor Corp (NASDAQ:ONNN) traded up 1.56% on Friday, hitting $9.11. 3,540,918 shares of the company’s stock traded hands. ON Semiconductor Corp has a 52 week low of $6.80 and a 52 week high of $10.07. The stock’s 50-day moving average is $8.87 and its 200-day moving average is $8.77. The company has a market cap of $4.017 billion and a P/E ratio of 21.88.

ON Semiconductor Corp (NASDAQ:ONNN) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.02. The company had revenue of $706.50 million for the quarter, compared to the consensus estimate of $711.01 million. During the same quarter in the previous year, the company posted $0.10 earnings per share. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. Analysts expect that ON Semiconductor Corp will post $0.80 EPS for the current fiscal year.

ONNN has been the subject of a number of other recent research reports. Analysts at Morgan Stanley reiterated an “underweight” rating on shares of ON Semiconductor Corp in a research note on Tuesday. They now have a $8.00 price target on the stock. Separately, analysts at B. Riley raised their price target on shares of ON Semiconductor Corp to $12.50 in a research note on Tuesday. They now have a “buy” rating on the stock. Finally, analysts at Evercore Partners initiated coverage on shares of ON Semiconductor Corp in a research note on Wednesday, May 14th. They set an “underweight” rating and a $8.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $10.83.

ON Semiconductor Corporation (NASDAQ:ONNN) designs, manufactures and markets a portfolio of semiconductor components that address the design needs of electronic systems and products.

To view Zacks’ full report, visit Zacks’ official website.

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.