ON Semiconductor (NASDAQ:ON) had its price objective upped by analysts at Morgan Stanley from $18.50 to $20.00 in a research note issued on Wednesday. The firm currently has an “equal weight” rating on the semiconductor company’s stock. Morgan Stanley’s price objective suggests a potential upside of 2.51% from the company’s previous close.
Several other equities research analysts also recently weighed in on ON. KeyCorp restated a “hold” rating on shares of ON Semiconductor in a report on Monday. Robert W. Baird restated a “buy” rating and set a $25.00 price target on shares of ON Semiconductor in a report on Tuesday, October 17th. Jefferies Group restated a “hold” rating and set a $16.00 price target on shares of ON Semiconductor in a report on Tuesday, September 12th. Craig Hallum upped their price target on ON Semiconductor from $25.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, November 7th. Finally, ValuEngine downgraded ON Semiconductor from a “strong-buy” rating to a “buy” rating in a report on Friday, December 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. ON Semiconductor currently has a consensus rating of “Buy” and a consensus target price of $21.39.
Shares of ON Semiconductor (NASDAQ:ON) traded up $0.15 during midday trading on Wednesday, reaching $19.51. The company’s stock had a trading volume of 4,748,363 shares, compared to its average volume of 6,208,952. The company has a current ratio of 1.97, a quick ratio of 1.25 and a debt-to-equity ratio of 1.20. ON Semiconductor has a 12 month low of $12.35 and a 12 month high of $22.15. The stock has a market cap of $8,262.68, a P/E ratio of 17.87, a price-to-earnings-growth ratio of 0.74 and a beta of 2.02.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC boosted its position 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 valued at $562,753,000 after purchasing an additional 14,818,360 shares during the period. Vanguard Group Inc. boosted its position in shares of ON Semiconductor by 5.0% in the 2nd quarter. Vanguard Group Inc. now owns 34,915,253 shares of the semiconductor company’s stock valued at $490,210,000 after purchasing an additional 1,652,005 shares during the period. Janus Henderson Group PLC boosted its position in shares of ON Semiconductor by 6.0% in the 3rd quarter. Janus Henderson Group PLC now owns 34,605,410 shares of the semiconductor company’s stock valued at $639,162,000 after purchasing an additional 1,949,089 shares during the period. Capital International Investors boosted its position in shares of ON Semiconductor by 1.9% in the 3rd quarter. Capital International Investors now owns 24,062,785 shares of the semiconductor company’s stock valued at $444,440,000 after purchasing an additional 439,448 shares during the period. Finally, Pictet Asset Management Ltd. boosted its position in shares of ON Semiconductor by 16.8% in the 3rd quarter. Pictet Asset Management Ltd. now owns 8,576,929 shares of the semiconductor company’s stock valued at $158,416,000 after purchasing an additional 1,234,603 shares during the period. 99.82% of the stock is owned by hedge funds and other institutional investors.
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.
