ON Semiconductor Corporation (NASDAQ:ON) was downgraded by equities research analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a report released on Tuesday.

A number of other equities research analysts have also issued reports on the company. Morgan Stanley increased their target price on ON Semiconductor Corporation from $16.00 to $17.00 and gave the company an “equal weight” rating in a research note on Tuesday. Credit Suisse Group raised their price objective on ON Semiconductor Corporation from $13.50 to $14.50 and gave the company an “underperform” rating in a research note on Tuesday. B. Riley raised their price objective on ON Semiconductor Corporation from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Monday. Needham & Company LLC upgraded ON Semiconductor Corporation from a “buy” rating to a “strong-buy” rating in a research note on Monday. Finally, BidaskClub lowered ON Semiconductor Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $16.61.

ON Semiconductor Corporation (NASDAQ ON) traded up 0.67% during midday trading on Tuesday, reaching $16.44. The company had a trading volume of 10,592,433 shares. ON Semiconductor Corporation has a 12 month low of $10.03 and a 12 month high of $16.93. The firm has a market capitalization of $6.92 billion, a PE ratio of 31.62 and a beta of 1.97. The firm’s 50-day moving average price is $14.90 and its 200 day moving average price is $14.89.

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In related news, Director Daryl Ostrander sold 17,726 shares of the firm’s stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $16.18, for a total value of $286,806.68. Following the sale, the director now owns 67,458 shares of the company’s stock, valued at approximately $1,091,470.44. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Bernard Raymond Colpitts, Jr. sold 6,100 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $15.59, for a total value of $95,099.00. The disclosure for this sale can be found here. In the last three months, insiders sold 124,690 shares of company stock worth $1,954,040. Company insiders own 1.60% of the company’s stock.

Several hedge funds have recently made changes to their positions in ON. Monarch Partners Asset Management LLC bought a new stake in shares of ON Semiconductor Corporation during the first quarter valued at about $16,447,000. Canada Pension Plan Investment Board increased its stake in shares of ON Semiconductor Corporation by 40.1% in the first quarter. Canada Pension Plan Investment Board now owns 262,200 shares of the semiconductor company’s stock valued at $4,061,000 after buying an additional 75,000 shares during the period. Sumitomo Mitsui Asset Management Company LTD increased its stake in shares of ON Semiconductor Corporation by 12.7% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 3,293,380 shares of the semiconductor company’s stock valued at $51,014,000 after buying an additional 371,925 shares during the period. IFP Advisors Inc increased its stake in shares of ON Semiconductor Corporation by 87.5% in the first quarter. IFP Advisors Inc now owns 28,112 shares of the semiconductor company’s stock valued at $435,000 after buying an additional 13,118 shares during the period. Finally, ProShare Advisors LLC increased its stake in shares of ON Semiconductor Corporation by 1.7% in the first quarter. ProShare Advisors LLC now owns 25,741 shares of the semiconductor company’s stock valued at $399,000 after buying an additional 440 shares during the period. 97.43% of the stock is currently owned by institutional investors and hedge funds.

ON Semiconductor Corporation Company Profile

ON Semiconductor Corporation offers a portfolio of sensors, power management, connectivity, custom and system on chip (SoC), analog, logic, timing, and discrete devices. The Company’s segments include Power Solutions Group, Analog Solutions Group and Image Sensor Group. The Power Solutions Group offers a range of discrete, module and integrated semiconductor products.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for ON Semiconductor Corporation (NASDAQ:ON)

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