ON Semiconductor Corp. (ON) Receives Average Rating of “Buy” from Brokerages

Shares of ON Semiconductor Corp. (NASDAQ:ON) have earned a consensus recommendation of “Buy” from the twenty-five analysts that are covering the firm. Six investment analysts have rated the stock with a hold recommendation and nineteen have given a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $14.07.

A number of brokerages have weighed in on ON. Loop Capital began coverage on ON Semiconductor Corp. in a research report on Tuesday. They issued a “buy” rating and a $16.00 price target on the stock. B. Riley reiterated a “buy” rating and issued a $15.50 price target on shares of ON Semiconductor Corp. in a research report on Tuesday. Vetr cut ON Semiconductor Corp. from a “strong-buy” rating to a “buy” rating and set a $13.47 price target on the stock. in a research report on Monday. Zacks Investment Research cut ON Semiconductor Corp. from a “buy” rating to a “hold” rating in a research report on Monday, November 21st. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $15.00 price target on shares of ON Semiconductor Corp. in a research report on Tuesday, November 8th.

Shares of ON Semiconductor Corp. (NASDAQ:ON) traded up 0.16% during trading on Wednesday, reaching $12.43. The company had a trading volume of 6,218,984 shares. ON Semiconductor Corp. has a 52-week low of $6.97 and a 52-week high of $12.73. The firm has a market capitalization of $5.18 billion, a P/E ratio of 41.43 and a beta of 1.98. The company has a 50 day moving average of $11.62 and a 200-day moving average of $10.72.

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In other ON Semiconductor Corp. news, VP Paul E. Rolls sold 3,507 shares of the stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $12.50, for a total value of $43,837.50. Following the transaction, the vice president now owns 265,345 shares of the company’s stock, valued at $3,316,812.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Paul Anthony Mascarenas bought 2,500 shares of the business’s stock in a transaction on Thursday, November 10th. The stock was bought at an average cost of $11.30 per share, for a total transaction of $28,250.00. Following the purchase, the director now directly owns 55,028 shares of the company’s stock, valued at approximately $621,816.40. The disclosure for this purchase can be found here. 1.60% of the stock is owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Capital International Investors raised its position in 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 during the last quarter. Westfield Capital Management Co. LP increased its stake 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 period. Sumitomo Mitsui Asset Management Company LTD acquired a new stake in shares of ON Semiconductor Corp. during the third quarter valued at about $28,793,000. Victory Capital Management Inc. increased its stake in shares of ON Semiconductor Corp. by 24.9% in the third quarter. Victory Capital Management Inc. now owns 8,925,309 shares of the company’s stock valued at $109,960,000 after buying an additional 1,777,884 shares during the period. Finally, Zweig DiMenna Associates LLC acquired a new stake in shares of ON Semiconductor Corp. during the third quarter valued at about $14,353,000. 96.60% of the stock is currently 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.