ON Semiconductor (ON) Downgraded to “Underweight” at Morgan Stanley

ON Semiconductor (NASDAQ:ON) was downgraded by equities research analysts at Morgan Stanley from an “equal weight” rating to an “underweight” rating in a research report issued to clients and investors on Thursday, Marketbeat.com reports. They presently have a $18.50 price target on the semiconductor company’s stock, down from their previous price target of $20.00. Morgan Stanley’s price objective points to a potential downside of 16.06% from the stock’s current price.

ON has been the subject of a number of other reports. BidaskClub upgraded shares of ON Semiconductor from a “buy” rating to a “strong-buy” rating in a report on Wednesday, May 30th. Zacks Investment Research lowered shares of ON Semiconductor from a “hold” rating to a “sell” rating in a report on Wednesday, April 25th. Craig Hallum upped their price target on shares of ON Semiconductor from $28.00 to $31.00 and gave the company a “buy” rating in a report on Tuesday, June 5th. JPMorgan Chase & Co. upped their price target on shares of ON Semiconductor from $23.00 to $24.00 and gave the company a “neutral” rating in a report on Tuesday, May 1st. Finally, Needham & Company LLC reiterated a “buy” rating and set a $30.00 price target on shares of ON Semiconductor in a report on Monday, July 30th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. ON Semiconductor currently has a consensus rating of “Hold” and a consensus price target of $25.74.

Shares of ON Semiconductor traded down $0.38, reaching $22.04, during trading on Thursday, Marketbeat.com reports. The company’s stock had a trading volume of 192,976 shares, compared to its average volume of 6,165,551. ON Semiconductor has a 52-week low of $15.52 and a 52-week high of $27.10. The stock has a market capitalization of $9.42 billion, a price-to-earnings ratio of 15.03, a price-to-earnings-growth ratio of 0.91 and a beta of 2.06. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.91 and a current ratio of 1.54.

ON Semiconductor (NASDAQ:ON) last announced its quarterly earnings data on Sunday, July 29th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.01. ON Semiconductor had a net margin of 16.66% and a return on equity of 24.14%. The company had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.43 billion. equities research analysts forecast that ON Semiconductor will post 1.84 earnings per share for the current fiscal year.

In related news, EVP William Hall sold 25,179 shares of the stock in a transaction dated Tuesday, May 15th. The shares were sold at an average price of $23.65, for a total value of $595,483.35. Following the completion of the transaction, the executive vice president now directly owns 375,391 shares in the company, valued at approximately $8,877,997.15. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Keith D. Jackson sold 80,000 shares of the stock in a transaction dated Wednesday, May 23rd. The stock was sold at an average price of $23.99, for a total transaction of $1,919,200.00. Following the completion of the transaction, the chief executive officer now owns 3,107,401 shares of the company’s stock, valued at $74,546,549.99. The disclosure for this sale can be found here. Insiders sold a total of 112,929 shares of company stock valued at $2,709,996 over the last 90 days. Company insiders own 1.60% of the company’s stock.

Several institutional investors have recently modified their holdings of ON. LS Investment Advisors LLC bought a new position in shares of ON Semiconductor in the 2nd quarter worth about $109,000. Point72 Asia Hong Kong Ltd grew its position in ON Semiconductor by 9,749.0% during the 1st quarter. Point72 Asia Hong Kong Ltd now owns 4,826 shares of the semiconductor company’s stock valued at $118,000 after purchasing an additional 4,777 shares during the last quarter. Psagot Investment House Ltd. purchased a new stake in ON Semiconductor during the 2nd quarter valued at about $123,000. Cerebellum GP LLC purchased a new stake in ON Semiconductor during the 2nd quarter valued at about $170,000. Finally, Focused Wealth Management Inc purchased a new stake in ON Semiconductor during the 1st quarter valued at about $181,000. Institutional investors own 91.05% of the company’s stock.

ON Semiconductor Company Profile

ON Semiconductor Corporation manufactures and sells semiconductor components for various electronic devices worldwide. It operates through three segments: Power Solutions Group, Analog Solutions Group, and Image Sensor Group. The Power Solutions Group segment offers discrete, module, and integrated semiconductor products for various applications, such as power switching, power conversion, signal conditioning, circuit protection, signal amplification, and voltage reference.

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Analyst Recommendations for ON Semiconductor (NASDAQ:ON)

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