Morgan Stanley Raises ON Semiconductor (ON) Price Target to $20.00

ON Semiconductor (NASDAQ:ON) had its target price hoisted by Morgan Stanley from $18.50 to $20.00 in a research report sent to investors on Wednesday morning. The brokerage currently has an equal weight rating on the semiconductor company’s stock.

A number of other research analysts have also recently commented on the stock. KeyCorp reissued a hold rating on shares of ON Semiconductor in a report on Monday, December 11th. ValuEngine cut shares of ON Semiconductor from a strong-buy rating to a buy rating in a report on Friday, December 1st. Bank of America reissued a buy rating and issued a $25.00 target price on shares of ON Semiconductor in a report on Monday, November 13th. Zacks Investment Research cut shares of ON Semiconductor from a buy rating to a hold rating in a report on Friday, November 10th. Finally, B. Riley increased their target price on shares of ON Semiconductor from $21.00 to $25.00 and gave the stock a buy rating in a report on Tuesday, November 7th. 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 issued a strong buy rating to the company’s stock. ON Semiconductor has an average rating of Buy and a consensus target price of $21.39.

ON Semiconductor (NASDAQ ON) traded up $0.36 during mid-day trading on Wednesday, hitting $19.90. 5,127,422 shares of the stock were exchanged, compared to its average volume of 5,692,991. The company has a market capitalization of $8,288.13, a PE ratio of 17.93, a P/E/G ratio of 0.74 and a beta of 2.02. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.97 and a quick ratio of 1.25. ON Semiconductor has a 52-week low of $12.36 and a 52-week high of $22.15.

In other ON Semiconductor news, Director Daryl Ostrander sold 1,398 shares of the stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $19.10, for a total transaction of $26,701.80. Following the completion of the sale, the director now owns 64,060 shares of the company’s stock, valued at approximately $1,223,546. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Keith D. Jackson sold 476,191 shares of the stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $19.59, for a total transaction of $9,328,581.69. Following the sale, the chief executive officer now directly owns 3,649,468 shares of the company’s stock, valued at approximately $71,493,078.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 734,526 shares of company stock valued at $14,597,833. 1.60% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the company. Oppenheimer Asset Management Inc. grew its position in shares of ON Semiconductor by 13.5% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 8,060 shares of the semiconductor company’s stock worth $113,000 after buying an additional 960 shares during the period. Marshall Wace North America L.P. acquired a new stake in shares of ON Semiconductor during the 2nd quarter worth approximately $184,000. BB&T Securities LLC acquired a new stake in shares of ON Semiconductor during the 3rd quarter worth approximately $187,000. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of ON Semiconductor during the 3rd quarter worth approximately $200,000. Finally, Airain ltd acquired a new stake in shares of ON Semiconductor during the 2nd quarter worth approximately $207,000. 99.82% of the stock is owned by institutional investors.

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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.

Analyst Recommendations for ON Semiconductor (NASDAQ:ON)

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