ON Semiconductor Corp. (ON) Given New $13.00 Price Target at Credit Agricole SA
ON Semiconductor Corp. (NASDAQ:ON) had its price target lifted by research analysts at Credit Agricole SA from $12.00 to $13.00 in a research report issued to clients and investors on Tuesday. The brokerage currently has a “market perform” rating on the stock. Credit Agricole SA’s target price suggests a potential upside of 12.26% from the stock’s previous close.
ON has been the subject of several other research reports. Stephens assumed coverage on shares of ON Semiconductor Corp. in a report on Thursday, June 2nd. They issued an “equal weight” rating and a $11.00 target price for the company. B. Riley reaffirmed a “buy” rating and issued a $15.00 target price on shares of ON Semiconductor Corp. in a report on Sunday, August 14th. Zacks Investment Research raised shares of ON Semiconductor Corp. from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a report on Tuesday, July 12th. Longbow Research raised shares of ON Semiconductor Corp. from a “neutral” rating to a “buy” rating and set a $14.00 target price for the company in a report on Wednesday, August 24th. Finally, Jefferies Group upped their target price on shares of ON Semiconductor Corp. from $10.00 to $10.50 and gave the stock a “hold” rating in a report on Tuesday, August 9th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and seventeen have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $13.41.
Shares of ON Semiconductor Corp. (NASDAQ:ON) traded up 0.52% on Tuesday, hitting $11.58. The stock had a trading volume of 9,069,871 shares. The stock has a market cap of $4.81 billion, a PE ratio of 29.69 and a beta of 1.64. ON Semiconductor Corp. has a 12 month low of $6.97 and a 12 month high of $12.00. The company has a 50 day moving average price of $10.50 and a 200-day moving average price of $9.71.
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ON Semiconductor Corp. (NASDAQ:ON) last issued its earnings results on Monday, August 8th. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.02. The company earned $877.80 million during the quarter, compared to the consensus estimate of $854.55 million. ON Semiconductor Corp. had a net margin of 4.70% and a return on equity of 20.14%. ON Semiconductor Corp.’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.22 EPS. On average, equities research analysts anticipate 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 stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $11.25, for a total transaction of $168,750.00. Following the transaction, the vice president now directly owns 277,202 shares in the company, valued at $3,118,522.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.60% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. State Street Corp increased its position in ON Semiconductor Corp. by 1.9% in the first quarter. State Street Corp now owns 6,038,290 shares of the company’s stock worth $57,913,000 after buying an additional 110,395 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in ON Semiconductor Corp. by 15.9% in the first quarter. Canada Pension Plan Investment Board now owns 1,156,300 shares of the company’s stock worth $11,089,000 after buying an additional 159,000 shares during the last quarter. Spark Investment Management LLC boosted its stake in ON Semiconductor Corp. by 153.2% in the first quarter. Spark Investment Management LLC now owns 981,800 shares of the company’s stock worth $9,415,000 after buying an additional 594,000 shares during the last quarter. Menta Capital LLC boosted its stake in ON Semiconductor Corp. by 338.7% in the first quarter. Menta Capital LLC now owns 108,800 shares of the company’s stock worth $1,043,000 after buying an additional 84,000 shares during the last quarter. Finally, Prudential Financial Inc. boosted its stake in ON Semiconductor Corp. by 1,713.4% in the first quarter. Prudential Financial Inc. now owns 1,426,694 shares of the company’s stock worth $13,682,000 after buying an additional 1,348,020 shares during the last quarter. Hedge funds and other institutional investors own 94.71% of the company’s stock.
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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