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

ON Semiconductor (NASDAQ:ON) was downgraded by stock analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Friday.

A number of other equities analysts have also commented on the company. Credit Suisse Group boosted their price objective on ON Semiconductor from $14.50 to $17.00 and gave the stock an “underperform” rating in a research note on Tuesday, November 7th. Summit Redstone lowered ON Semiconductor to a “hold” rating in a research note on Monday, November 6th. Citigroup set a $23.50 price objective on ON Semiconductor and gave the stock a “buy” rating in a research note on Tuesday, October 24th. B. Riley boosted their price objective on ON Semiconductor from $21.00 to $25.00 and gave the stock a “buy” rating in a research note on Tuesday, November 7th. Finally, KeyCorp reissued a “hold” rating on shares of ON Semiconductor in a research note on Monday, December 11th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $22.33.

Shares of ON Semiconductor (NASDAQ:ON) traded up $1.32 during mid-day trading on Friday, reaching $25.14. The company had a trading volume of 10,203,965 shares, compared to its average volume of 6,200,000. The company has a current ratio of 1.97, a quick ratio of 1.25 and a debt-to-equity ratio of 1.20. The firm has a market cap of $11,250.00, a price-to-earnings ratio of 27.33, a price-to-earnings-growth ratio of 0.78 and a beta of 2.02. ON Semiconductor has a twelve month low of $13.06 and a twelve month high of $25.60.

ON Semiconductor (NASDAQ:ON) last announced its quarterly earnings results on Sunday, November 5th. The semiconductor company reported $0.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.10). ON Semiconductor had a net margin of 7.22% and a return on equity of 22.97%. research analysts anticipate that ON Semiconductor will post 1.44 EPS for the current year.

In other news, EVP William Hall sold 22,583 shares of the business’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $23.86, for a total transaction of $538,830.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO William A. Schromm sold 54,366 shares of the business’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $21.18, for a total value of $1,151,471.88. Following the sale, the chief operating officer now owns 666,815 shares of the company’s stock, valued at approximately $14,123,141.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 180,549 shares of company stock valued at $3,928,954. 1.60% of the stock is currently owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in ON. Public Employees Retirement System of Ohio increased its holdings in ON Semiconductor by 10.6% in the third quarter. Public Employees Retirement System of Ohio now owns 197,277 shares of the semiconductor company’s stock valued at $3,644,000 after purchasing an additional 18,934 shares during the last quarter. Convergence Investment Partners LLC increased its holdings in ON Semiconductor by 4.9% in the fourth quarter. Convergence Investment Partners LLC now owns 183,149 shares of the semiconductor company’s stock valued at $3,835,000 after purchasing an additional 8,579 shares during the last quarter. GSA Capital Partners LLP increased its holdings in ON Semiconductor by 50.4% in the third quarter. GSA Capital Partners LLP now owns 39,059 shares of the semiconductor company’s stock valued at $721,000 after purchasing an additional 13,087 shares during the last quarter. Neuberger Berman Group LLC increased its holdings in ON Semiconductor by 9.0% in the third quarter. Neuberger Berman Group LLC now owns 2,668,743 shares of the semiconductor company’s stock valued at $49,292,000 after purchasing an additional 221,017 shares during the last quarter. Finally, SignalPoint Asset Management LLC bought a new stake in ON Semiconductor in the third quarter valued at about $739,000.

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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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