ON Semiconductor (NASDAQ:ON) PT Set at $28.00 by B. Riley

B. Riley set a $28.00 target price on ON Semiconductor (NASDAQ:ON) in a research note issued to investors on Monday, TipRanks reports. The firm currently has a buy rating on the semiconductor company’s stock.

A number of other research analysts have also recently weighed in on ON. Zacks Investment Research cut ON Semiconductor from a hold rating to a sell rating and set a $19.00 target price on the stock. in a report on Wednesday, October 9th. Mizuho reissued a buy rating and issued a $26.00 price objective on shares of ON Semiconductor in a research report on Monday, August 5th. Loop Capital cut their price objective on ON Semiconductor to $23.00 and set a buy rating on the stock in a research report on Tuesday, August 6th. Cowen reissued an outperform rating and issued a $25.00 price objective (down from $29.00) on shares of ON Semiconductor in a research report on Tuesday, August 6th. Finally, BNP Paribas assumed coverage on ON Semiconductor in a research report on Friday, August 30th. They issued an outperform rating on the stock. Four analysts have rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. ON Semiconductor presently has a consensus rating of Buy and an average price target of $24.28.

ON Semiconductor stock traded down $0.69 during midday trading on Monday, reaching $18.58. The stock had a trading volume of 9,203,813 shares, compared to its average volume of 6,419,688. ON Semiconductor has a twelve month low of $14.55 and a twelve month high of $23.54. The stock has a market capitalization of $8.00 billion, a PE ratio of 9.48, a price-to-earnings-growth ratio of 1.89 and a beta of 2.18. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.41 and a current ratio of 2.42. The stock’s 50-day simple moving average is $18.88 and its 200 day simple moving average is $19.73.

ON Semiconductor (NASDAQ:ON) last issued its earnings results on Sunday, August 4th. The semiconductor company reported $0.42 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.42. ON Semiconductor had a return on equity of 25.36% and a net margin of 9.49%. The firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.38 billion. During the same quarter last year, the firm earned $0.46 earnings per share. The firm’s revenue for the quarter was down 7.4% compared to the same quarter last year. Equities analysts predict that ON Semiconductor will post 1.55 earnings per share for the current fiscal year.

In other ON Semiconductor news, EVP Simon Keeton sold 8,812 shares of ON Semiconductor stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $20.02, for a total value of $176,416.24. Following the completion of the transaction, the executive vice president now directly owns 119,101 shares in the company, valued at $2,384,402.02. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Bernard Gutmann sold 43,266 shares of ON Semiconductor stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $18.79, for a total value of $812,968.14. Following the completion of the transaction, the chief financial officer now owns 700,344 shares of the company’s stock, valued at $13,159,463.76. The disclosure for this sale can be found here. 1.40% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the business. Oakworth Capital Inc. acquired a new position in ON Semiconductor in the second quarter valued at approximately $28,000. Stonebridge Capital Advisors LLC acquired a new position in ON Semiconductor in the second quarter valued at approximately $71,000. Redhawk Wealth Advisors Inc. acquired a new position in ON Semiconductor in the second quarter valued at approximately $77,000. Stephens Inc. AR boosted its stake in ON Semiconductor by 11.2% in the second quarter. Stephens Inc. AR now owns 4,983 shares of the semiconductor company’s stock valued at $101,000 after acquiring an additional 503 shares during the period. Finally, Meeder Asset Management Inc. boosted its position in shares of ON Semiconductor by 40.4% during the second quarter. Meeder Asset Management Inc. now owns 6,375 shares of the semiconductor company’s stock worth $129,000 after buying an additional 1,835 shares during the period. Institutional investors own 96.21% of the company’s stock.

ON Semiconductor Company Profile

ON Semiconductor Corporation manufactures and sells semiconductor components for various electronic devices worldwide. The company operates in three segments: Power Solutions Group, Analog Solutions Group, and Intelligent Sensing Group. The Power Solutions Group segment offers discrete, module, and integrated semiconductor products for various applications, such as power switching and 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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