ON Semiconductor Corp. (ON) PT Raised to $13.00 at Jefferies Group
ON Semiconductor Corp. (NASDAQ:ON) had its price objective lifted by research analysts at Jefferies Group from $10.50 to $13.00 in a research note issued to investors on Tuesday. The brokerage currently has a “hold” rating on the stock. Jefferies Group’s price objective suggests a potential upside of 12.85% from the company’s current price.
A number of other brokerages also recently weighed in on ON. Zacks Investment Research downgraded shares of ON Semiconductor Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, July 26th. Credit Suisse Group AG reissued a “buy” rating and issued a $15.00 price target on shares of ON Semiconductor Corp. in a report on Tuesday. Susquehanna initiated coverage on shares of ON Semiconductor Corp. in a report on Tuesday. They issued a “positive” rating on the stock. Mizuho reissued an “outperform” rating and issued a $16.00 price target on shares of ON Semiconductor Corp. in a report on Friday, September 9th. Finally, KeyCorp reissued a “buy” rating and issued a $13.00 price target on shares of ON Semiconductor Corp. in a report on Wednesday, July 6th. Two analysts have rated the stock with a sell rating, four have given a hold rating and seventeen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $12.84.
Shares of ON Semiconductor Corp. (NASDAQ:ON) opened at 11.52 on Tuesday. ON Semiconductor Corp. has a 12 month low of $6.97 and a 12 month high of $11.74. The company has a market cap of $4.79 billion, a P/E ratio of 29.54 and a beta of 1.64. The stock’s 50 day moving average is $10.50 and its 200 day moving average is $9.71.
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ON Semiconductor Corp. (NASDAQ:ON) last issued its quarterly earnings results on Monday, August 8th. The company reported $0.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.02. The company had revenue of $877.80 million for 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%. The firm’s quarterly revenue was down .3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.22 EPS. On average, analysts anticipate that ON Semiconductor Corp. will post $0.84 EPS for the current fiscal year.
In other ON Semiconductor Corp. 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 sale was disclosed in a document filed 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 and other institutional investors have recently modified their holdings of the company. Capital International Investors boosted its position in shares of ON Semiconductor Corp. by 88.6% in the second quarter. Capital International Investors now owns 21,106,509 shares of the company’s stock valued at $186,159,000 after buying an additional 9,913,421 shares in the last quarter. Norges Bank purchased a new position in shares of ON Semiconductor Corp. during the fourth quarter valued at about $39,331,000. Westfield Capital Management Co. LP boosted its position in shares of ON Semiconductor Corp. by 73.5% in the second quarter. Westfield Capital Management Co. LP now owns 7,253,093 shares of the company’s stock valued at $63,972,000 after buying an additional 3,071,808 shares in the last quarter. Jericho Capital Asset Management L.P. purchased a new position in shares of ON Semiconductor Corp. during the first quarter valued at about $20,484,000. Finally, Prudential Financial Inc. boosted its position in shares of 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 valued at $13,682,000 after buying an additional 1,348,020 shares in the last quarter. Hedge funds and other institutional investors own 94.71% of the company’s stock.
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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