ON Semiconductor (NASDAQ:ON) Upgraded to Sell at BidaskClub

BidaskClub upgraded shares of ON Semiconductor (NASDAQ:ON) from a strong sell rating to a sell rating in a report released on Thursday morning, BidAskClub reports.

Other equities analysts have also recently issued reports about the stock. BNP Paribas started coverage on shares of ON Semiconductor in a research report on Friday, August 30th. They issued an outperform rating for the company. Raymond James upgraded shares of ON Semiconductor from a market perform rating to a strong-buy rating and set a $21.00 target price for the company in a research report on Monday, August 19th. B. Riley restated a buy rating on shares of ON Semiconductor in a research report on Monday, August 5th. Citigroup dropped their target price on shares of ON Semiconductor from $25.00 to $21.00 and set a buy rating for the company in a research report on Tuesday, August 6th. Finally, Cowen restated an outperform rating and issued a $25.00 target price (down from $29.00) on shares of ON Semiconductor in a research report on Tuesday, August 6th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. ON Semiconductor currently has a consensus rating of Buy and an average price target of $24.10.

ON Semiconductor stock traded up $0.09 during midday trading on Thursday, hitting $20.12. The company’s stock had a trading volume of 9,651,095 shares, compared to its average volume of 4,827,742. ON Semiconductor has a 1-year low of $14.55 and a 1-year high of $23.54. The company has a debt-to-equity ratio of 1.08, a current ratio of 2.42 and a quick ratio of 1.41. The company has a 50-day moving average price of $18.70 and a two-hundred day moving average price of $20.28. The company has a market cap of $8.24 billion, a price-to-earnings ratio of 10.27, a PEG ratio of 1.85 and a beta of 2.19.

ON Semiconductor (NASDAQ:ON) last issued its earnings results on Sunday, August 4th. The semiconductor company reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.38 billion. ON Semiconductor had a net margin of 9.49% and a return on equity of 25.36%. The business’s revenue for the quarter was down 7.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.46 EPS. Sell-side analysts forecast that ON Semiconductor will post 1.58 EPS for the current year.

In related news, Director Emmanuel T. Hernandez sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $22.00, for a total transaction of $660,000.00. Following the completion of the transaction, the director now directly owns 100,994 shares in the company, valued at approximately $2,221,868. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Paul E. Rolls sold 11,467 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $22.00, for a total transaction of $252,274.00. The disclosure for this sale can be found here. 1.40% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC grew its holdings in ON Semiconductor by 76.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 62,542 shares of the semiconductor company’s stock worth $1,286,000 after acquiring an additional 27,010 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in ON Semiconductor by 405.8% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 164,114 shares of the semiconductor company’s stock worth $3,375,000 after acquiring an additional 131,666 shares during the last quarter. Boston Partners grew its holdings in ON Semiconductor by 0.3% during the 1st quarter. Boston Partners now owns 289,787 shares of the semiconductor company’s stock worth $5,961,000 after acquiring an additional 979 shares during the last quarter. Nissay Asset Management Corp Japan ADV grew its holdings in ON Semiconductor by 2.9% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 39,693 shares of the semiconductor company’s stock worth $816,000 after acquiring an additional 1,108 shares during the last quarter. Finally, First Allied Advisory Services Inc. grew its holdings in ON Semiconductor by 4.2% during the 1st quarter. First Allied Advisory Services Inc. now owns 30,262 shares of the semiconductor company’s stock worth $619,000 after acquiring an additional 1,214 shares during the last quarter. Institutional investors and hedge funds own 96.97% of the company’s stock.

About ON Semiconductor

ON Semiconductor Corporation manufactures and sells semiconductor components for various electronic devices worldwide. The company operates in three segments: Power Solutions Group, Analog Solutions Group, and Intelligent Sensing Group. The Power Solutions Group segment offers discrete, module, and integrated semiconductor products for various applications, such as power switching and conversion, signal conditioning, circuit protection, signal amplification, and voltage reference.

Recommended Story: Trading Stocks – What are percentage gainers?

Analyst Recommendations for ON Semiconductor (NASDAQ:ON)

Receive News & Ratings for ON Semiconductor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ON Semiconductor and related companies with MarketBeat.com's FREE daily email newsletter.