ON Semiconductor (NASDAQ:ON) Price Target Increased to $45.00 by Analysts at Citigroup

ON Semiconductor (NASDAQ:ON) had its price objective upped by analysts at Citigroup from $41.50 to $45.00 in a research note issued to investors on Tuesday, The Fly reports. Citigroup’s price objective points to a potential upside of 23.42% from the stock’s previous close.

A number of other brokerages have also recently issued reports on ON. BMO Capital Markets upped their target price on ON Semiconductor from $25.00 to $35.00 and gave the stock a “market perform” rating in a report on Monday, February 1st. They noted that the move was a valuation call. JPMorgan Chase & Co. raised their price objective on shares of ON Semiconductor from $25.50 to $37.50 and gave the company a “neutral” rating in a report on Tuesday, February 2nd. KeyCorp boosted their target price on shares of ON Semiconductor from $40.00 to $45.00 and gave the stock an “overweight” rating in a report on Tuesday, February 2nd. B. Riley raised their price target on shares of ON Semiconductor from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, January 25th. Finally, Zacks Investment Research cut shares of ON Semiconductor from a “buy” rating to a “hold” rating and set a $39.00 price objective on the stock. in a research note on Tuesday, January 12th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $39.40.

ON Semiconductor stock traded down $1.11 during midday trading on Tuesday, reaching $36.46. The company’s stock had a trading volume of 494,089 shares, compared to its average volume of 7,090,835. The stock has a market cap of $15.24 billion, a PE ratio of 74.41, a price-to-earnings-growth ratio of 5.67 and a beta of 1.99. The company has a current ratio of 2.11, a quick ratio of 1.40 and a debt-to-equity ratio of 1.03. ON Semiconductor has a 52 week low of $13.48 and a 52 week high of $44.59. The business has a 50-day moving average price of $41.30 and a 200-day moving average price of $35.14.

ON Semiconductor (NASDAQ:ON) last released its quarterly earnings data on Sunday, May 2nd. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.01. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.46 billion. ON Semiconductor had a net margin of 3.87% and a return on equity of 9.92%. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.10 EPS. As a group, research analysts predict that ON Semiconductor will post 0.77 EPS for the current fiscal year.

In related news, EVP Vince Craig Hopkin sold 1,000 shares of the company’s stock in a transaction on Friday, March 19th. The stock was sold at an average price of $39.26, for a total transaction of $39,260.00. Following the completion of the sale, the executive vice president now owns 133,924 shares in the company, valued at $5,257,856.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Emmanuel T. Hernandez sold 74,165 shares of the stock in a transaction on Monday, March 8th. The shares were sold at an average price of $37.73, for a total value of $2,798,245.45. Following the completion of the sale, the director now directly owns 103,461 shares of the company’s stock, valued at $3,903,583.53. The disclosure for this sale can be found here. Insiders have sold 113,413 shares of company stock valued at $4,464,308 over the last quarter. Corporate insiders own 1.42% of the company’s stock.

Several hedge funds have recently made changes to their positions in ON. Baillie Gifford & Co. purchased a new position in ON Semiconductor during the fourth quarter worth about $27,000. Focused Wealth Management Inc bought a new position in shares of ON Semiconductor during the 1st quarter worth approximately $37,000. Jackson Grant Investment Advisers Inc. purchased a new position in shares of ON Semiconductor in the 4th quarter worth approximately $32,000. MPS Loria Financial Planners LLC bought a new position in shares of ON Semiconductor in the first quarter valued at approximately $41,000. Finally, Capital Asset Advisory Services LLC purchased a new stake in shares of ON Semiconductor during the fourth quarter valued at approximately $43,000. Institutional investors own 98.89% of the company’s stock.

About ON Semiconductor

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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