B. Riley Boosts ON Semiconductor (NASDAQ:ON) Price Target to $80.00

ON Semiconductor (NASDAQ:ONGet Rating) had its target price lifted by B. Riley from $77.00 to $80.00 in a research report released on Tuesday morning, The Fly reports. They currently have a buy rating on the semiconductor company’s stock. B. Riley also issued estimates for ON Semiconductor’s Q3 2022 earnings at $1.31 EPS, Q4 2022 earnings at $1.27 EPS, FY2022 earnings at $5.14 EPS, Q1 2023 earnings at $1.22 EPS, Q2 2023 earnings at $1.26 EPS, Q3 2023 earnings at $1.36 EPS, Q4 2023 earnings at $1.36 EPS and FY2023 earnings at $5.20 EPS.

Other research analysts also recently issued reports about the company. Summit Insights downgraded ON Semiconductor from a buy rating to a hold rating in a report on Monday, August 1st. Morgan Stanley boosted their price target on ON Semiconductor from $56.00 to $65.00 and gave the company an equal weight rating in a report on Tuesday. The Goldman Sachs Group dropped their price objective on ON Semiconductor from $74.00 to $60.00 in a report on Friday, July 15th. Mizuho upped their price objective on ON Semiconductor from $68.00 to $72.00 and gave the stock a buy rating in a report on Tuesday. Finally, Benchmark restated a buy rating and set a $72.00 price objective on shares of ON Semiconductor in a report on Tuesday, May 3rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $72.23.

ON Semiconductor Trading Down 0.6 %

Shares of ON Semiconductor stock opened at $67.63 on Tuesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.79 and a quick ratio of 1.83. ON Semiconductor has a 1 year low of $40.85 and a 1 year high of $71.25. The company has a market capitalization of $29.30 billion, a P/E ratio of 17.52, a P/E/G ratio of 0.52 and a beta of 1.82. The business has a 50 day moving average price of $57.43 and a 200 day moving average price of $57.60.

ON Semiconductor (NASDAQ:ONGet Rating) last issued its quarterly earnings data on Monday, August 1st. The semiconductor company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.08. The firm had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.01 billion. ON Semiconductor had a return on equity of 41.43% and a net margin of 22.60%. The company’s quarterly revenue was up 24.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.63 EPS. Sell-side analysts anticipate that ON Semiconductor will post 5.13 EPS for the current fiscal year.

Insiders Place Their Bets

In other ON Semiconductor news, CEO Hassane El-Khoury sold 20,000 shares of ON Semiconductor stock in a transaction on Monday, July 18th. The shares were sold at an average price of $56.17, for a total value of $1,123,400.00. Following the completion of the transaction, the chief executive officer now owns 261,162 shares of the company’s stock, valued at $14,669,469.54. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Vince Craig Hopkin sold 6,296 shares of the company’s stock in a transaction that occurred on Tuesday, May 10th. The stock was sold at an average price of $52.10, for a total transaction of $328,021.60. Following the completion of the transaction, the executive vice president now directly owns 169,073 shares of the company’s stock, valued at $8,808,703.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Hassane El-Khoury sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, July 18th. The shares were sold at an average price of $56.17, for a total value of $1,123,400.00. Following the transaction, the chief executive officer now directly owns 261,162 shares of the company’s stock, valued at $14,669,469.54. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ON Semiconductor

Several institutional investors have recently made changes to their positions in ON. Janney Montgomery Scott LLC grew its holdings in shares of ON Semiconductor by 181.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 30,428 shares of the semiconductor company’s stock valued at $2,067,000 after purchasing an additional 19,601 shares during the last quarter. State of Michigan Retirement System lifted its position in ON Semiconductor by 163.6% in the fourth quarter. State of Michigan Retirement System now owns 20,036 shares of the semiconductor company’s stock worth $1,361,000 after purchasing an additional 12,436 shares during the period. National Asset Management Inc. acquired a new stake in ON Semiconductor in the fourth quarter worth approximately $229,000. Yousif Capital Management LLC acquired a new stake in ON Semiconductor in the fourth quarter worth approximately $644,000. Finally, CWM LLC acquired a new stake in ON Semiconductor in the fourth quarter worth approximately $46,000. 92.86% of the stock is owned by institutional investors.

About ON Semiconductor

(Get Rating)

onsemi is engaged in disruptive innovations and also a supplier of power and analog semiconductors. The firm offers vehicle electrification and safety, sustainable energy grids, industrial automation, and 5G and cloud infrastructure, with a focus on automotive and industrial end-markets. It operates through the following segments: Power Solutions Group, Advanced Solutions Group, and Intelligent Sensing Group.

Read More

The Fly logo

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.