ON Semiconductor (NASDAQ:ON) Earns “Buy” Rating from Roth Capital

ON Semiconductor (NASDAQ:ON)‘s stock had its “buy” rating restated by equities researchers at Roth Capital in a research note issued on Tuesday, MarketBeat.com reports. They presently have a $70.00 price objective on the semiconductor company’s stock, up from their previous price objective of $50.00. Roth Capital’s price target would indicate a potential upside of 33.95% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the stock. Mizuho reduced their price target on shares of ON Semiconductor from $71.00 to $62.00 and set an “outperform” rating for the company in a research report on Monday, March 24th. B. Riley downgraded shares of ON Semiconductor from a “buy” rating to a “neutral” rating and set a $41.00 target price on the stock. in a research note on Thursday, April 24th. Needham & Company LLC reduced their target price on ON Semiconductor from $57.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, May 6th. Loop Capital lowered their price target on ON Semiconductor from $65.00 to $55.00 and set a “buy” rating on the stock in a report on Tuesday, May 6th. Finally, Robert W. Baird reduced their price objective on ON Semiconductor from $42.00 to $34.00 and set a “neutral” rating for the company in a research note on Tuesday, May 6th. Thirteen equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $55.62.

ON Semiconductor Stock Down 1.3%

Shares of ON Semiconductor stock opened at $52.26 on Tuesday. ON Semiconductor has a 12-month low of $31.04 and a 12-month high of $80.08. The firm has a market capitalization of $21.84 billion, a PE ratio of 36.29, a price-to-earnings-growth ratio of 4.31 and a beta of 1.39. The company has a quick ratio of 3.32, a current ratio of 4.95 and a debt-to-equity ratio of 0.42. The stock’s fifty day moving average is $42.83 and its 200-day moving average is $49.55.

ON Semiconductor (NASDAQ:ON) last posted its quarterly earnings data on Monday, May 5th. The semiconductor company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.04. ON Semiconductor had a return on equity of 17.40% and a net margin of 9.51%. The firm had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the previous year, the company earned $1.08 EPS. The business’s revenue for the quarter was down 22.4% compared to the same quarter last year. Equities analysts anticipate that ON Semiconductor will post 2.6 earnings per share for the current year.

Institutional Investors Weigh In On ON Semiconductor

A number of large investors have recently bought and sold shares of the business. Truvestments Capital LLC boosted its position in ON Semiconductor by 3.8% during the fourth quarter. Truvestments Capital LLC now owns 5,661 shares of the semiconductor company’s stock worth $357,000 after purchasing an additional 207 shares during the period. Assetmark Inc. lifted its stake in shares of ON Semiconductor by 0.3% in the fourth quarter. Assetmark Inc. now owns 78,495 shares of the semiconductor company’s stock worth $4,949,000 after buying an additional 235 shares during the last quarter. Huntington National Bank boosted its holdings in shares of ON Semiconductor by 8.9% during the 4th quarter. Huntington National Bank now owns 3,310 shares of the semiconductor company’s stock worth $209,000 after buying an additional 271 shares during the period. Elequin Capital LP grew its stake in ON Semiconductor by 108.3% in the 4th quarter. Elequin Capital LP now owns 527 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 274 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. raised its holdings in ON Semiconductor by 2.3% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 13,025 shares of the semiconductor company’s stock worth $530,000 after acquiring an additional 289 shares during the period. 97.70% of the stock is currently owned by institutional investors.

ON Semiconductor Company Profile

onsemi is engaged in disruptive innovations and also a supplier of power and analog semiconductors. The firm offers vehicle electrification and safety, sustainable energy grids, industrial automation, and 5G and cloud infrastructure, with a focus on automotive and industrial end-markets. It operates through the following segments: Power Solutions Group, Advanced Solutions Group, and Intelligent Sensing Group.