ON Semiconductor Corp. (ON) Stock Rating Reaffirmed by Credit Suisse Group AG
ON Semiconductor Corp. (NASDAQ:ON)‘s stock had its “buy” rating reiterated by investment analysts at Credit Suisse Group AG in a report issued on Tuesday. They presently have a $15.00 target price on the stock. Credit Suisse Group AG’s target price would indicate a potential upside of 30.21% from the company’s previous close.
A number of other brokerages also recently commented on ON. Zacks Investment Research downgraded ON Semiconductor Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, July 26th. Susquehanna initiated coverage on ON Semiconductor Corp. in a research report on Tuesday. They set a “positive” rating on the stock. Mizuho reiterated an “outperform” rating and set a $16.00 price objective on shares of ON Semiconductor Corp. in a research report on Friday, September 9th. KeyCorp reiterated a “buy” rating and set a $13.00 price objective on shares of ON Semiconductor Corp. in a research report on Wednesday, July 6th. Finally, B. Riley reiterated a “buy” rating and set a $15.00 price objective on shares of ON Semiconductor Corp. in a research report on Tuesday, August 9th. Two analysts have rated the stock with a sell rating, three have given a hold rating and eighteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $12.64.
Shares of ON Semiconductor Corp. (NASDAQ:ON) opened at 11.52 on Tuesday. The company has a market cap of $4.79 billion, a P/E ratio of 29.54 and a beta of 1.64. ON Semiconductor Corp. has a 12 month low of $6.97 and a 12 month high of $11.74. The company’s 50-day moving average price is $10.50 and its 200-day moving average price 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 (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.02. The firm had revenue of $877.80 million for 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 business’s revenue was down .3% on a year-over-year basis. During the same period in the previous year, the company posted $0.22 earnings per share. Equities analysts forecast that ON Semiconductor Corp. will post $0.84 EPS for the current fiscal year.
In related news, VP Paul E. Rolls sold 15,000 shares of the company’s stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $11.25, for a total value of $168,750.00. Following the completion of the sale, the vice president now directly owns 277,202 shares of the company’s stock, valued at approximately $3,118,522.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.60% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. Acrospire Investment Management LLC boosted its stake in shares of 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 during the period. American International Group Inc. boosted its stake 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 worth $118,000 after buying an additional 1,682 shares during the period. Emerald Mutual Fund Advisers Trust boosted its stake 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 worth $129,000 after buying an additional 356 shares during the period. YHB Investment Advisors Inc. purchased a new stake in shares of ON Semiconductor Corp. during the second quarter worth about $133,000. Finally, TradeLink Capital LLC purchased a new stake in shares of ON Semiconductor Corp. during the second quarter worth about $138,000. 94.71% of the stock is owned by hedge funds and other 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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