ON Semiconductor (ON) Lowered to “Buy” at ValuEngine

ON Semiconductor (NASDAQ:ON) was downgraded by investment analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a research note issued on Friday.

ON has been the subject of several other reports. Credit Suisse Group boosted their price objective on shares of ON Semiconductor from $14.50 to $17.00 and gave the company an “underperform” rating in a research report on Tuesday, November 7th. Goldman Sachs Group cut shares of ON Semiconductor from a “buy” rating to a “neutral” rating and set a $18.00 price objective for the company. in a research report on Tuesday, September 12th. Needham & Company LLC reissued a “buy” rating and issued a $25.00 price objective on shares of ON Semiconductor in a research report on Monday, September 11th. BidaskClub raised shares of ON Semiconductor from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Finally, Robert W. Baird reissued a “buy” rating and issued a $20.00 price objective on shares of ON Semiconductor in a research report on Thursday, August 24th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. ON Semiconductor currently has a consensus rating of “Buy” and an average target price of $21.23.

ON Semiconductor (NASDAQ ON) traded down $0.22 during trading on Friday, reaching $19.86. 7,170,000 shares of the company’s stock traded hands, compared to its average volume of 6,330,000. The stock has a market cap of $8,420.00, a PE ratio of 18.42, a price-to-earnings-growth ratio of 0.76 and a beta of 2.06. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.25 and a current ratio of 1.97. ON Semiconductor has a 12 month low of $10.96 and a 12 month high of $22.15.

In other news, CFO Bernard Gutmann sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $19.62, for a total value of $392,400.00. Following the completion of the sale, the chief financial officer now owns 555,248 shares of the company’s stock, valued at approximately $10,893,965.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daryl Ostrander sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $16.78, for a total transaction of $33,560.00. Following the completion of the sale, the director now directly owns 65,458 shares of the company’s stock, valued at approximately $1,098,385.24. The disclosure for this sale can be found here. Insiders sold a total of 740,243 shares of company stock valued at $14,692,763 in the last ninety days. Corporate insiders own 1.60% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in ON. Optimum Investment Advisors raised its stake in shares of ON Semiconductor by 12.5% during the 3rd quarter. Optimum Investment Advisors now owns 40,500 shares of the semiconductor company’s stock worth $748,000 after acquiring an additional 4,500 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of ON Semiconductor by 10.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 197,277 shares of the semiconductor company’s stock worth $3,644,000 after acquiring an additional 18,934 shares in the last quarter. GSA Capital Partners LLP raised its stake in shares of ON Semiconductor by 50.4% during the 3rd quarter. GSA Capital Partners LLP now owns 39,059 shares of the semiconductor company’s stock worth $721,000 after acquiring an additional 13,087 shares in the last quarter. Moors & Cabot Inc. bought a new position in shares of ON Semiconductor during the 3rd quarter worth approximately $233,000. Finally, Neuberger Berman Group LLC raised its stake in shares of ON Semiconductor by 9.0% during the 3rd quarter. Neuberger Berman Group LLC now owns 2,668,743 shares of the semiconductor company’s stock worth $49,292,000 after acquiring an additional 221,017 shares in the last quarter. 99.79% of the stock is owned by hedge funds and other institutional investors.

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About ON Semiconductor

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 (NASDAQ:ON)

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