ON Semiconductor’s (ON) Buy Rating Reiterated at Needham & Company LLC

ON Semiconductor (NASDAQ:ON)‘s stock had its “buy” rating reiterated by analysts at Needham & Company LLC in a research report issued to clients and investors on Tuesday. They currently have a $25.00 price objective on the semiconductor company’s stock. Needham & Company LLC’s price target points to a potential upside of 19.96% from the company’s previous close.

Several other equities analysts also recently commented on ON. Piper Jaffray Companies assumed coverage on ON Semiconductor in a research report on Monday. They issued a “neutral” rating and a $21.00 price objective on the stock. Morgan Stanley boosted their price objective on ON Semiconductor from $18.50 to $20.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 13th. Robert W. Baird restated a “buy” rating and issued a $25.00 price objective on shares of ON Semiconductor in a research report on Tuesday, October 17th. KeyCorp restated a “hold” rating on shares of ON Semiconductor in a research report on Monday, December 11th. Finally, Jefferies Group reaffirmed a “hold” rating and issued a $16.00 target price on shares of ON Semiconductor in a report on Tuesday, September 12th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $21.37.

Shares of ON Semiconductor (NASDAQ ON) traded up $0.94 during trading on Tuesday, hitting $20.84. The stock had a trading volume of 7,307,400 shares, compared to its average volume of 6,210,218. ON Semiconductor has a fifty-two week low of $12.37 and a fifty-two week high of $22.15. The stock has a market capitalization of $8,440.83, a P/E ratio of 18.26, a price-to-earnings-growth ratio of 0.75 and a beta of 2.02. The company has a quick ratio of 1.25, a current ratio of 1.97 and a debt-to-equity ratio of 1.20.

In other ON Semiconductor news, EVP George H. Cave sold 19,385 shares of the business’s stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $18.00, for a total transaction of $348,930.00. Following the sale, the executive vice president now directly owns 308,054 shares of the company’s stock, valued at $5,544,972. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Bernard Gutmann sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $19.62, for a total value of $392,400.00. Following the sale, the chief financial officer now directly owns 555,248 shares in the company, valued at $10,893,965.76. The disclosure for this sale can be found here. Insiders sold 734,526 shares of company stock worth $14,597,833 over the last ninety days. Insiders own 1.40% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Oppenheimer Asset Management Inc. grew its stake in shares of ON Semiconductor by 13.5% during the second quarter. Oppenheimer Asset Management Inc. now owns 8,060 shares of the semiconductor company’s stock valued at $113,000 after buying an additional 960 shares during the last quarter. Marshall Wace North America L.P. bought a new position in shares of ON Semiconductor during the second quarter valued at approximately $184,000. BB&T Securities LLC bought a new position in shares of ON Semiconductor during the third quarter valued at approximately $187,000. Cambridge Investment Research Advisors Inc. bought a new position in shares of ON Semiconductor during the third quarter valued at approximately $200,000. Finally, Airain ltd bought a new position in shares of ON Semiconductor during the second quarter valued at approximately $207,000. 99.53% of the stock is currently owned by institutional investors.

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ON Semiconductor 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 (NASDAQ:ON)

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