Insider Selling: George H. Cave Unloads 25,000 Shares of ON Semiconductor Corp Stock (ONNN)
ON Semiconductor Corp (NASDAQ:ONNN) SVP George H. Cave sold 25,000 shares of the company’s stock on the open market in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $9.73, for a total transaction of $243,250.00. Following the completion of the sale, the senior vice president now directly owns 251,626 shares of the company’s stock, valued at approximately $2,448,321. The sale was disclosed in a filing with the SEC, which is available at this link.
Shares of ON Semiconductor Corp (NASDAQ:ONNN) traded down 0.10% on Wednesday, hitting $9.78. 5,392,103 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 has a 50-day moving average of $9.03 and a 200-day moving average of $9.15. The company has a market cap of $4.314 billion and a price-to-earnings ratio of 19.62.
ON Semiconductor Corp (NASDAQ:ONNN) last released its earnings data on Thursday, July 31st. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.01. The company had revenue of $757.60 million for the quarter, compared to the consensus estimate of $753.28 million. During the same quarter in the previous year, the company posted $0.13 earnings per share. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. Analysts expect that ON Semiconductor Corp will post $0.81 EPS for the current fiscal year.
A number of research firms have recently commented on ONNN. Analysts at Deutsche Bank reiterated a “buy” rating on shares of ON Semiconductor Corp in a research note on Friday, August 1st. They now have a $12.00 price target on the stock. Separately, analysts at Wedbush cut their price target on shares of ON Semiconductor Corp from $13.00 to $12.00 in a research note on Friday, August 1st. Finally, analysts at Morgan Stanley raised their price target on shares of ON Semiconductor Corp from $8.00 to $8.50 in a research note on Friday, August 1st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company’s stock. ON Semiconductor Corp currently has an average rating of “Buy” and a consensus price target of $10.86.
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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