ON Semiconductor Corp. (ON) Rating Lowered to Hold at Vetr Inc.
ON Semiconductor Corp. (NASDAQ:ON) was downgraded by investment analysts at Vetr from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday. They presently have a $12.07 price target on the stock. Vetr‘s price objective indicates a potential upside of 3.43% from the stock’s previous close.
A number of other research firms have also commented on ON. Pacific Crest reaffirmed a “buy” rating and set a $16.00 price target on shares of ON Semiconductor Corp. in a research report on Thursday, October 6th. Stephens raised ON Semiconductor Corp. from an “equal weight” rating to an “overweight” rating in a research report on Monday, October 3rd. Morgan Stanley raised ON Semiconductor Corp. from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $10.00 to $12.00 in a research report on Thursday, September 22nd. B. Riley reaffirmed a “buy” rating and set a $16.00 price target on shares of ON Semiconductor Corp. in a research report on Sunday, September 25th. Finally, JPMorgan Chase & Co. reaffirmed a “hold” rating and set a $13.50 price target on shares of ON Semiconductor Corp. in a research report on Tuesday, September 20th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eighteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $13.68.
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 has a market cap of $4.85 billion, a PE ratio of 29.92 and a beta of 1.75. ON Semiconductor Corp. has a 52-week low of $6.97 and a 52-week high of $12.69. The company’s 50-day moving average is $11.47 and its 200 day moving average is $10.11.
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ON Semiconductor Corp. (NASDAQ:ON) last released its earnings results on Monday, August 8th. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.02. ON Semiconductor Corp. had a return on equity of 20.14% and a net margin of 4.70%. The firm had revenue of $877.80 million for the quarter, compared to analyst estimates of $854.55 million. During the same quarter in the prior year, the firm posted $0.22 earnings per share. The company’s quarterly revenue was down .3% on a year-over-year basis. On average, equities research analysts forecast that ON Semiconductor Corp. will post $0.85 EPS for the current year.
In other ON Semiconductor Corp. news, VP Paul E. Rolls sold 5,246 shares of ON Semiconductor Corp. stock in a transaction on Thursday, September 22nd. The stock was sold at an average price of $12.00, for a total value of $62,952.00. Following the completion of the transaction, the vice president now directly owns 267,202 shares of the company’s stock, valued at approximately $3,206,424. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Paul E. Rolls sold 3,507 shares of ON Semiconductor Corp. stock in a transaction 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 transaction, 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 company insiders.
A number of institutional investors have recently made changes to their positions in the stock. 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. Westfield Capital Management Co. LP raised 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 during the last quarter. Jericho Capital Asset Management L.P. acquired a new position in shares of ON Semiconductor Corp. during the first quarter valued at about $20,484,000. Prudential Financial Inc. raised 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 during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of ON Semiconductor Corp. by 3.1% in the second quarter. Vanguard Group Inc. now owns 31,106,680 shares of the company’s stock valued at $274,361,000 after buying an additional 931,075 shares during the last quarter. 94.70% 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.
To view Vetr’s full report, visit Vetr’s official website.
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