ON Semiconductor Corp. (ON) Price Target Increased to $16.00 by Analysts at Robert W. Baird
ON Semiconductor Corp. (NASDAQ:ON) had its target price upped by equities researchers at Robert W. Baird from $15.00 to $16.00 in a note issued to investors on Tuesday. The brokerage presently has a “buy” rating on the stock. Robert W. Baird’s price objective suggests a potential upside of 38.89% from the company’s previous close.
A number of other equities research analysts also recently commented on ON. B. Riley reiterated a “buy” rating and issued a $16.00 price objective on shares of ON Semiconductor Corp. in a report on Tuesday. Jefferies Group upped their price objective on ON Semiconductor Corp. from $10.50 to $13.00 and gave the company a “hold” rating in a report on Tuesday. Zacks Investment Research upgraded ON Semiconductor Corp. from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a report on Tuesday, July 12th. Stifel Nicolaus reiterated a “buy” rating and issued a $11.00 price objective on shares of ON Semiconductor Corp. in a report on Tuesday, May 31st. Finally, Susquehanna began coverage on ON Semiconductor Corp. in a report on Tuesday. They issued a “positive” rating for the company. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $13.18.
Shares of ON Semiconductor Corp. (NASDAQ:ON) traded up 1.39% during midday trading on Tuesday, hitting $11.68. The stock had a trading volume of 4,557,499 shares. The firm’s 50-day moving average is $10.50 and its 200 day moving average is $9.71. The company has a market capitalization of $4.85 billion, a PE ratio of 29.95 and a beta of 1.64. ON Semiconductor Corp. has a one year low of $6.97 and a one year high of $12.00.
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ON Semiconductor Corp. (NASDAQ:ON) last released its quarterly earnings data on Monday, August 8th. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. The business earned $877.80 million during the quarter, compared to the consensus estimate of $854.55 million. ON Semiconductor Corp. had a return on equity of 20.14% and a net margin of 4.70%. The firm’s revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.22 earnings per share. Equities analysts expect that ON Semiconductor Corp. will post $0.84 earnings per share for the current fiscal year.
In related news, VP Paul E. Rolls sold 15,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the vice president now directly owns 277,202 shares of the company’s stock, valued at $3,118,522.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.60% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in ON Semiconductor Corp. during the fourth quarter worth about $39,331,000. Fisher Asset Management LLC boosted its stake in ON Semiconductor Corp. by 229.5% in the first quarter. Fisher Asset Management LLC now owns 95,562 shares of the company’s stock worth $923,000 after buying an additional 66,562 shares during the last quarter. Quantitative Systematic Strategies LLC acquired a new stake in ON Semiconductor Corp. during the first quarter worth about $254,000. Aperio Group LLC boosted its stake in ON Semiconductor Corp. by 39.5% in the first quarter. Aperio Group LLC now owns 51,425 shares of the company’s stock worth $493,000 after buying an additional 14,561 shares during the last quarter. Finally, Virginia Retirement System acquired a new stake in ON Semiconductor Corp. during the first quarter worth about $1,641,000. 94.71% of the stock is owned by institutional investors.
About ON Semiconductor Corp.
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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