ON Semiconductor Corp. (ON) Coverage Initiated by Analysts at Susquehanna
Susquehanna started coverage on shares of ON Semiconductor Corp. (NASDAQ:ON) in a research note issued on Tuesday. The brokerage set a “positive” rating on the stock.
Several other equities research analysts also recently weighed in on the company. Needham & Company LLC reiterated a “buy” rating and issued a $14.00 price target on shares of ON Semiconductor Corp. in a report on Friday. Mizuho reiterated an “outperform” rating and issued a $16.00 price target on shares of ON Semiconductor Corp. in a report on Friday, September 9th. Credit Agricole SA began coverage on ON Semiconductor Corp. in a report on Tuesday, May 24th. They issued an “outperform” rating and a $11.00 price target on the stock. Wedbush reiterated an “outperform” rating and issued a $13.00 price target (up from $12.00) on shares of ON Semiconductor Corp. in a report on Friday, June 3rd. Finally, Zacks Investment Research downgraded ON Semiconductor Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, August 9th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and eighteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $12.55.
Shares of ON Semiconductor Corp. (NASDAQ:ON) opened at 11.52 on Tuesday. The company has a market capitalization of $4.79 billion, a P/E ratio of 29.54 and a beta of 1.64. The firm has a 50-day moving average price of $10.50 and a 200 day moving average price of $9.71. ON Semiconductor Corp. has a 12-month low of $6.97 and a 12-month high of $11.74.
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ON Semiconductor Corp. (NASDAQ:ON) last posted its quarterly earnings data on Monday, August 8th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.02. The business earned $877.80 million during the quarter, compared to analyst estimates of $854.55 million. ON Semiconductor Corp. had a return on equity of 20.14% and a net margin of 4.70%. The company’s revenue for the quarter was down .3% on a year-over-year basis. During the same period last year, the company earned $0.22 EPS. On average, equities research analysts predict that ON Semiconductor Corp. will post $0.84 earnings per share for the current year.
In other news, VP Paul E. Rolls sold 15,000 shares of the company’s stock in a transaction on Friday, August 26th. The stock was sold at an average price of $11.25, for a total transaction of $168,750.00. Following the sale, the vice president now owns 277,202 shares of the company’s stock, valued at $3,118,522.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.60% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Acrospire Investment Management LLC raised its stake in ON Semiconductor Corp. by 36.0% in the second quarter. Acrospire Investment Management LLC now owns 11,700 shares of the company’s stock worth $103,000 after buying an additional 3,100 shares in the last quarter. American International Group Inc. raised its position in shares of ON Semiconductor Corp. by 14.3% in the second quarter. American International Group Inc. now owns 13,435 shares of the company’s stock valued at $118,000 after buying an additional 1,682 shares during the last quarter. Emerald Mutual Fund Advisers Trust raised its position in shares of ON Semiconductor Corp. by 2.5% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 14,642 shares of the company’s stock valued at $129,000 after buying an additional 356 shares during the last quarter. YHB Investment Advisors Inc. purchased a new position in shares of ON Semiconductor Corp. during the second quarter valued at about $133,000. Finally, TradeLink Capital LLC purchased a new position in shares of ON Semiconductor Corp. during the second quarter valued at about $138,000. 94.71% of the stock is currently owned by institutional investors and hedge funds.
ON Semiconductor Corp. Company Profile
ON Semiconductor Corporation offers a portfolio of analog, digital and mixed signal integrated circuits (ICs), standard products, image sensors and custom devices for customers to solve their design challenges in advanced electronic systems and products. The Company operates through four segments: Application Products Group, Image Sensor Group, Standard Products Group, and System Solutions Group.
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