ON Semiconductor (NASDAQ:ON) Price Target Raised to $45.00


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ON Semiconductor (NASDAQ:ON) had its target price increased by stock analysts at Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell from $41.50 to $45.00 in a research report issued to clients and investors on Tuesday, Stock Target Advisor reports. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell’s price objective would indicate a potential upside of 21.39% from the stock’s current price.

Several other equities research analysts have also commented on the stock. Zacks Investment Research lowered shares of ON Semiconductor from a “buy” rating to a “hold” rating and set a $39.00 target price on the stock. in a research report on Tuesday, January 12th. Susquehanna Bancshares boosted their price objective on shares of ON Semiconductor from $45.00 to $46.00 and gave the stock a “positive” rating in a report on Tuesday. Piper Sandler boosted their price target on ON Semiconductor from $35.00 to $45.00 and gave the stock an “overweight” rating in a research note on Monday, January 25th. Morgan Stanley raised their price objective on ON Semiconductor from $26.00 to $32.00 and gave the company an “underweight” rating in a research note on Tuesday. Finally, Summit Insights downgraded ON Semiconductor from a “buy” rating to a “hold” rating in a research report on Tuesday, February 16th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen 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 price target of $39.61.

NASDAQ:ON traded down $0.50 during mid-day trading on Tuesday, reaching $37.07. The stock had a trading volume of 938,108 shares, compared to its average volume of 7,090,835. ON Semiconductor has a twelve month low of $13.48 and a twelve month high of $44.59. The business has a 50 day simple moving average of $41.30 and a 200 day simple moving average of $35.14. The firm has a market capitalization of $15.50 billion, a price-to-earnings ratio of 75.41, a PEG ratio of 5.67 and a beta of 1.99. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.40 and a current ratio of 2.11.

ON Semiconductor (NASDAQ:ON) last issued its earnings results on Sunday, May 2nd. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. ON Semiconductor had a return on equity of 9.92% and a net margin of 3.87%. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the prior year, the business posted $0.10 EPS. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. As a group, sell-side analysts expect that ON Semiconductor will post 0.77 earnings per share for the current year.

In related news, VP Paul E. Rolls sold 29,261 shares of the business’s stock in a transaction that occurred on Friday, April 9th. The shares were sold at an average price of $42.58, for a total value of $1,245,933.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Emmanuel T. Hernandez sold 74,165 shares of the company’s stock in a transaction that occurred on Monday, March 8th. The stock was sold at an average price of $37.73, for a total transaction of $2,798,245.45. Following the transaction, the director now directly owns 103,461 shares of the company’s stock, valued at approximately $3,903,583.53. The disclosure for this sale can be found here. Insiders sold 113,413 shares of company stock valued at $4,464,308 over the last quarter. Insiders own 1.42% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ON. Janus Henderson Group PLC purchased a new position in shares of ON Semiconductor in the second quarter valued at $458,495,000. FMR LLC increased its holdings in shares of ON Semiconductor by 58.7% in the 2nd quarter. FMR LLC now owns 40,082,107 shares of the semiconductor company’s stock worth $562,753,000 after acquiring an additional 14,818,360 shares during the period. Capital International Investors boosted its position in ON Semiconductor by 88.6% during the 2nd quarter. Capital International Investors now owns 21,106,509 shares of the semiconductor company’s stock worth $186,159,000 after acquiring an additional 9,913,421 shares during the period. Bank of Montreal Can bought a new position in ON Semiconductor during the 2nd quarter valued at $216,682,000. Finally, Starboard Value LP acquired a new position in ON Semiconductor during the fourth quarter worth about $295,803,000. 98.89% of the stock is currently owned by institutional investors and hedge funds.

ON Semiconductor Company Profile

ON Semiconductor Corporation, together with its subsidiaries, manufactures and sells semiconductor components for various electronic devices worldwide. The company operates in three segments: Power Solutions Group (PSG), Advanced Solutions Group (ASG), and Intelligent Sensing Group (ISG). The PSG segment offers analog, discrete, module, and integrated semiconductor products for various applications, such as power switching, power conversion, signal conditioning, circuit protection, signal amplification, and voltage regulation functions.

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Analyst Recommendations for ON Semiconductor (NASDAQ:ON)

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