ON Semiconductor (ON) Upgraded by BidaskClub to Sell

BidaskClub upgraded shares of ON Semiconductor (NASDAQ:ON) from a strong sell rating to a sell rating in a research note released on Thursday morning.

A number of other research analysts have also weighed in on the stock. B. Riley lifted their price target on shares of ON Semiconductor from $29.00 to $30.00 and gave the company a buy rating in a research note on Tuesday, July 31st. Needham & Company LLC reaffirmed a buy rating and issued a $30.00 price target on shares of ON Semiconductor in a research note on Monday, July 30th. Mizuho reaffirmed a buy rating and issued a $27.00 price target on shares of ON Semiconductor in a research note on Monday, July 30th. Zacks Investment Research raised shares of ON Semiconductor from a hold rating to a buy rating and set a $27.00 price target on the stock in a research note on Tuesday, July 24th. Finally, Nomura assumed coverage on shares of ON Semiconductor in a research note on Wednesday, July 18th. They issued a buy rating and a $30.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. ON Semiconductor currently has a consensus rating of Hold and a consensus target price of $25.74.

Shares of ON Semiconductor opened at $21.34 on Thursday, according to Marketbeat. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.91 and a current ratio of 1.54. ON Semiconductor has a twelve month low of $15.52 and a twelve month high of $27.10. The company has a market capitalization of $9.34 billion, a price-to-earnings ratio of 14.62, a P/E/G ratio of 0.90 and a beta of 2.06.

ON Semiconductor (NASDAQ:ON) last announced its quarterly earnings results on Sunday, July 29th. The semiconductor company reported $0.46 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.01. ON Semiconductor had a net margin of 16.66% and a return on equity of 24.14%. The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.43 billion. analysts anticipate that ON Semiconductor will post 1.84 earnings per share for the current year.

In other news, Director Daryl Ostrander sold 2,750 shares of the business’s stock in a transaction on Monday, May 21st. The shares were sold at an average price of $23.75, for a total value of $65,312.50. Following the sale, the director now owns 81,310 shares of the company’s stock, valued at $1,931,112.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP George H. Cave sold 5,000 shares of the business’s stock in a transaction on Tuesday, May 29th. The stock was sold at an average price of $26.00, for a total transaction of $130,000.00. Following the completion of the sale, the executive vice president now directly owns 232,382 shares in the company, valued at approximately $6,041,932. The disclosure for this sale can be found here. In the last three months, insiders sold 112,929 shares of company stock worth $2,709,996. 1.60% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Point72 Asia Hong Kong Ltd increased its holdings in ON Semiconductor by 9,749.0% during the first quarter. Point72 Asia Hong Kong Ltd now owns 4,826 shares of the semiconductor company’s stock worth $118,000 after buying an additional 4,777 shares during the last quarter. LS Investment Advisors LLC acquired a new position in ON Semiconductor during the second quarter worth $109,000. Psagot Investment House Ltd. acquired a new position in ON Semiconductor during the second quarter worth $123,000. Focused Wealth Management Inc acquired a new position in ON Semiconductor during the first quarter worth $181,000. Finally, Cerebellum GP LLC acquired a new position in ON Semiconductor during the second quarter worth $170,000. Institutional investors and hedge funds own 91.05% of the company’s stock.

About ON Semiconductor

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