BidaskClub lowered shares of ON Semiconductor Corporation (NASDAQ:ON) from a buy rating to a hold rating in a research report report published on Wednesday.
Several other research firms have also recently commented on ON. B. Riley restated a buy rating and issued a $18.00 target price on shares of ON Semiconductor Corporation in a research note on Monday, May 8th. Robert W. Baird reiterated an outperform rating and issued a $21.00 price objective on shares of ON Semiconductor Corporation in a research note on Monday, March 13th. Raymond James Financial, Inc. started coverage on shares of ON Semiconductor Corporation in a research note on Friday, June 16th. They issued an outperform rating and a $19.00 price objective for the company. Zacks Investment Research cut shares of ON Semiconductor Corporation from a buy rating to a hold rating in a research report on Wednesday, May 10th. Finally, Credit Suisse Group restated a sell rating and set a $14.00 target price on shares of ON Semiconductor Corporation in a research report on Wednesday, May 10th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. ON Semiconductor Corporation has a consensus rating of Buy and an average target price of $16.40.
Shares of ON Semiconductor Corporation (NASDAQ ON) traded up 0.28% during trading on Wednesday, reaching $14.34. The company had a trading volume of 2,486,328 shares. ON Semiconductor Corporation has a 1-year low of $8.72 and a 1-year high of $16.93. The stock has a market capitalization of $6.03 billion, a price-to-earnings ratio of 27.58 and a beta of 1.96. The company’s 50 day moving average is $15.43 and its 200-day moving average is $14.57.
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In related news, EVP William Hall sold 41,364 shares of the firm’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $15.30, for a total value of $632,869.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gilles Delfassy sold 4,500 shares of the firm’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $16.87, for a total value of $75,915.00. Following the completion of the transaction, the director now directly owns 33,044 shares of the company’s stock, valued at $557,452.28. The disclosure for this sale can be found here. Insiders sold 134,690 shares of company stock valued at $2,094,440 over the last three months. 1.60% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank bought a new position in shares of ON Semiconductor Corporation during the fourth quarter worth about $49,822,000. TCW Group Inc. raised its stake in shares of ON Semiconductor Corporation by 160.1% in the first quarter. TCW Group Inc. now owns 3,060,689 shares of the semiconductor company’s stock worth $47,410,000 after buying an additional 1,884,112 shares during the period. Vanguard Group Inc. raised its stake in shares of ON Semiconductor Corporation by 5.2% in the first quarter. Vanguard Group Inc. now owns 33,263,248 shares of the semiconductor company’s stock worth $515,248,000 after buying an additional 1,655,255 shares during the period. Boston Partners raised its stake in shares of ON Semiconductor Corporation by 5.5% in the first quarter. Boston Partners now owns 20,408,521 shares of the semiconductor company’s stock worth $316,128,000 after buying an additional 1,068,570 shares during the period. Finally, Monarch Partners Asset Management LLC acquired a new stake in shares of ON Semiconductor Corporation during the first quarter worth $16,447,000. 96.45% of the stock is owned by institutional investors.
ON Semiconductor Corporation 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.
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