ON Semiconductor’s (ON) “Buy” Rating Reaffirmed at Craig Hallum

ON Semiconductor (NASDAQ:ON)‘s stock had its “buy” rating reiterated by equities research analysts at Craig Hallum in a research report issued on Tuesday, MarketBeat reports. They presently have a $25.00 target price on the semiconductor company’s stock, down from their previous target price of $31.00. Craig Hallum’s price objective suggests a potential upside of 57.13% from the company’s current price.

Other research analysts have also recently issued research reports about the stock. B. Riley raised their price target on shares of ON Semiconductor from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, July 31st. ValuEngine cut shares of ON Semiconductor from a “buy” rating to a “hold” rating in a report on Monday, July 2nd. Nomura started coverage on shares of ON Semiconductor in a report on Wednesday, July 18th. They issued a “buy” rating and a $30.00 price target for the company. BidaskClub raised shares of ON Semiconductor from a “strong sell” rating to a “sell” rating in a report on Thursday, August 9th. Finally, Zacks Investment Research cut shares of ON Semiconductor from a “buy” rating to a “hold” rating in a report on Tuesday, July 3rd. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $25.64.

Shares of ON opened at $15.91 on Tuesday. The company has a market capitalization of $6.23 billion, a price-to-earnings ratio of 10.90, a PEG ratio of 0.62 and a beta of 2.01. ON Semiconductor has a twelve month low of $14.55 and a twelve month high of $27.10. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.54 and a quick ratio of 0.91.

ON Semiconductor (NASDAQ:ON) last announced its earnings results on Sunday, July 29th. The semiconductor company reported $0.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.01. The company had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.43 billion. ON Semiconductor had a net margin of 16.66% and a return on equity of 24.14%. On average, equities analysts predict that ON Semiconductor will post 1.83 earnings per share for the current fiscal year.

In related news, Director Paul Anthony Mascarenas sold 9,100 shares of the firm’s stock in a transaction on Friday, September 28th. The shares were sold at an average price of $18.16, for a total transaction of $165,256.00. Following the completion of the transaction, the director now owns 57,104 shares of the company’s stock, valued at $1,037,008.64. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Bernard Raymond Colpitts, Jr. sold 1,214 shares of the firm’s stock in a transaction on Monday, August 13th. The stock was sold at an average price of $21.44, for a total transaction of $26,028.16. Following the transaction, the insider now directly owns 18,357 shares of the company’s stock, valued at approximately $393,574.08. The disclosure for this sale can be found here. In the last three months, insiders have sold 39,494 shares of company stock valued at $768,883. 1.29% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ladenburg Thalmann Financial Services Inc. grew its position in shares of ON Semiconductor by 76.5% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 13,576 shares of the semiconductor company’s stock valued at $326,000 after purchasing an additional 5,884 shares during the period. LPL Financial LLC grew its position in shares of ON Semiconductor by 83.4% in the first quarter. LPL Financial LLC now owns 23,319 shares of the semiconductor company’s stock valued at $570,000 after purchasing an additional 10,604 shares during the period. WINTON GROUP Ltd acquired a new stake in shares of ON Semiconductor in the first quarter valued at about $574,000. Summit Trail Advisors LLC grew its position in shares of ON Semiconductor by 14.6% in the first quarter. Summit Trail Advisors LLC now owns 36,985 shares of the semiconductor company’s stock valued at $704,000 after purchasing an additional 4,722 shares during the period. Finally, Brown Advisory Inc. acquired a new stake in shares of ON Semiconductor in the first quarter valued at about $950,000. 90.49% of the stock is owned by institutional investors.

ON Semiconductor Company Profile

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.

Further Reading: Understanding Compound Annual Growth Rate (CAGR)

Analyst Recommendations for ON Semiconductor (NASDAQ:ON)

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