ON Semiconductor Corporation (NASDAQ:ON) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Thursday.

ON has been the subject of several other research reports. Zacks Investment Research lowered shares of ON Semiconductor Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. Credit Suisse Group boosted their price target on shares of ON Semiconductor Corporation from $13.50 to $14.50 and gave the company an “underperform” rating in a report on Tuesday, August 8th. Robert W. Baird reiterated a “buy” rating and set a $20.00 price objective on shares of ON Semiconductor Corporation in a research note on Thursday, August 24th. Needham & Company LLC reiterated a “buy” rating and set a $25.00 price objective on shares of ON Semiconductor Corporation in a research note on Monday, September 11th. Finally, Goldman Sachs Group, Inc. (The) lowered shares of ON Semiconductor Corporation from a “buy” rating to a “neutral” rating and set a $18.00 price objective for the company. in a research note on Tuesday, September 12th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. ON Semiconductor Corporation presently has an average rating of “Buy” and an average target price of $17.91.

Shares of ON Semiconductor Corporation (NASDAQ:ON) traded up 1.44% during trading on Thursday, hitting $17.64. 3,937,791 shares of the company’s stock were exchanged. The stock has a market cap of $7.44 billion, a P/E ratio of 25.98 and a beta of 1.98. ON Semiconductor Corporation has a one year low of $10.74 and a one year high of $17.73. The firm has a 50-day moving average price of $16.37 and a 200-day moving average price of $15.37.

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In other news, Director Daryl Ostrander sold 2,000 shares of the company’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $16.78, for a total value of $33,560.00. Following the sale, the director now directly owns 65,458 shares of the company’s stock, valued at approximately $1,098,385.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP George H. Cave sold 3,057 shares of the company’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $17.50, for a total transaction of $53,497.50. Following the completion of the sale, the executive vice president now directly owns 327,439 shares in the company, valued at $5,730,182.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,548 shares of company stock worth $450,275. 1.60% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the company. Bank of Montreal Can boosted its holdings in shares of ON Semiconductor Corporation by 93.2% in the 2nd quarter. Bank of Montreal Can now owns 1,840,953 shares of the semiconductor company’s stock valued at $25,847,000 after acquiring an additional 888,022 shares during the last quarter. Stephens Inc. AR boosted its holdings in shares of ON Semiconductor Corporation by 7.2% in the 1st quarter. Stephens Inc. AR now owns 110,224 shares of the semiconductor company’s stock valued at $1,707,000 after acquiring an additional 7,406 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in shares of ON Semiconductor Corporation by 1.3% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 783,224 shares of the semiconductor company’s stock valued at $10,996,000 after acquiring an additional 10,400 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of ON Semiconductor Corporation by 234.5% in the 1st quarter. Wellington Management Group LLP now owns 688,092 shares of the semiconductor company’s stock valued at $10,659,000 after acquiring an additional 482,387 shares during the last quarter. Finally, Prudential Financial Inc. boosted its holdings in shares of ON Semiconductor Corporation by 898.9% in the 1st quarter. Prudential Financial Inc. now owns 245,474 shares of the semiconductor company’s stock valued at $3,802,000 after acquiring an additional 220,900 shares during the last quarter. 98.07% 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.

Analyst Recommendations for ON Semiconductor Corporation (NASDAQ:ON)

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