Vetr Inc. Lowers ON Semiconductor Corp. (ON) to Hold
ON Semiconductor Corp. (NASDAQ:ON) was downgraded by analysts at Vetr from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday. They currently have a $12.07 price objective on the stock. Vetr‘s target price indicates a potential upside of 3.43% from the company’s current price.
A number of other equities research analysts have also recently commented on the company. B. Riley reissued a “buy” rating and issued a $15.00 target price on shares of ON Semiconductor Corp. in a research note on Sunday, August 14th. Credit Suisse Group AG reaffirmed a “buy” rating and set a $13.00 price target on shares of ON Semiconductor Corp. in a report on Tuesday, August 9th. Jefferies Group upped their price target on ON Semiconductor Corp. from $10.00 to $10.50 and gave the company a “hold” rating in a report on Tuesday, August 9th. KeyCorp reaffirmed a “buy” rating and set a $13.00 price target on shares of ON Semiconductor Corp. in a report on Wednesday, July 6th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $14.00 price target on shares of ON Semiconductor Corp. in a report on Monday, August 8th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eighteen have issued a buy rating to the company’s stock. ON Semiconductor Corp. has an average rating of “Buy” and an average target price of $13.68.
Shares of ON Semiconductor Corp. (NASDAQ:ON) traded up 1.39% during midday trading on Tuesday, reaching $11.67. The company had a trading volume of 4,479,111 shares. The company’s 50-day moving average is $11.47 and its 200-day moving average is $10.11. The stock has a market capitalization of $4.85 billion, a PE ratio of 29.92 and a beta of 1.75. ON Semiconductor Corp. has a 1-year low of $6.97 and a 1-year high of $12.69.
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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 Thomson Reuters’ consensus estimate of $0.19 by $0.02. The company had revenue of $877.80 million for the quarter, compared to analysts’ expectations 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 for the quarter was down .3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.22 earnings per share. On average, equities research analysts forecast that ON Semiconductor Corp. will post $0.85 EPS for the current year.
In other news, VP Paul E. Rolls sold 15,000 shares of the firm’s stock in a transaction that occurred on 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Paul E. Rolls sold 3,507 shares of the firm’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $12.50, for a total value of $43,837.50. Following the completion of the sale, the vice president now directly owns 265,345 shares of the company’s stock, valued at $3,316,812.50. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.
Several large investors have recently bought and sold shares of ON. Aperio Group LLC raised 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 valued at $493,000 after buying an additional 14,561 shares during the last quarter. Prudential Financial Inc. raised its stake 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 worth $13,682,000 after buying an additional 1,348,020 shares in the last quarter. Menta Capital LLC raised its stake in shares of 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 in the last quarter. Canada Pension Plan Investment Board raised its stake in shares of 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 in the last quarter. Finally, State Street Corp raised its stake in shares of 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. 94.70% of the stock is 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.
To view Vetr’s full report, visit Vetr’s official website.
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