ON Semiconductor (NASDAQ:ON) PT Raised to $72.00 at Mizuho

ON Semiconductor (NASDAQ:ONGet Rating) had its target price increased by Mizuho from $68.00 to $72.00 in a research note issued to investors on Tuesday morning, The Fly reports. The brokerage currently has a buy rating on the semiconductor company’s stock.

A number of other analysts have also weighed in on ON. Needham & Company LLC decreased their target price on shares of ON Semiconductor to $60.00 in a report on Tuesday, July 5th. Bank of America decreased their price target on shares of ON Semiconductor from $80.00 to $65.00 and set a buy rating for the company in a research note on Wednesday, June 29th. Truist Financial reduced their price objective on shares of ON Semiconductor from $73.00 to $65.00 and set a buy rating for the company in a research note on Friday, April 8th. Wells Fargo & Company upgraded shares of ON Semiconductor from an equal weight rating to an overweight rating and raised their price objective for the company from $58.00 to $65.00 in a research note on Wednesday, May 11th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of ON Semiconductor from $70.00 to $65.00 in a report on Wednesday, July 20th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $72.23.

ON Semiconductor Stock Down 0.6 %

ON Semiconductor stock opened at $67.63 on Tuesday. ON Semiconductor has a twelve month low of $40.85 and a twelve month high of $71.25. The company’s 50-day moving average price is $57.43 and its two-hundred day moving average price is $57.60. The stock has a market cap 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 company has a quick ratio of 1.83, a current ratio of 2.79 and a debt-to-equity ratio of 0.56.

ON Semiconductor (NASDAQ:ONGet Rating) last issued its quarterly earnings results on Monday, August 1st. The semiconductor company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.08. ON Semiconductor had a net margin of 22.60% and a return on equity of 41.43%. The company had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same quarter in the previous year, the business earned $0.63 earnings per share. ON Semiconductor’s revenue was up 24.9% compared to the same quarter last year. As a group, analysts expect that ON Semiconductor will post 5.13 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Hassane El-Khoury sold 20,000 shares of the stock in a transaction that occurred on Monday, July 18th. The stock was sold at an average price of $56.17, for a total transaction of $1,123,400.00. Following the sale, the chief executive officer now directly owns 261,162 shares in the company, valued at approximately $14,669,469.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Vince Craig Hopkin sold 6,296 shares of the firm’s stock in a transaction on Tuesday, May 10th. The stock was sold at an average price of $52.10, for a total value of $328,021.60. Following the completion of the sale, the executive vice president now owns 169,073 shares of the company’s stock, valued at $8,808,703.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 sale, the chief executive officer now directly owns 261,162 shares of the company’s stock, valued at approximately $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 bought and sold shares of ON. State Board of Administration of Florida Retirement System boosted its holdings in shares of ON Semiconductor by 8.8% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 556,397 shares of the semiconductor company’s stock worth $27,992,000 after acquiring an additional 45,061 shares in the last quarter. M&T Bank Corp raised its position in shares of ON Semiconductor by 61.0% during the 2nd quarter. M&T Bank Corp now owns 21,971 shares of the semiconductor company’s stock valued at $928,000 after acquiring an additional 8,325 shares during the last quarter. Illinois Municipal Retirement Fund increased its position in shares of ON Semiconductor by 441.6% in the 2nd quarter. Illinois Municipal Retirement Fund now owns 188,210 shares of the semiconductor company’s stock valued at $9,469,000 after buying an additional 153,462 shares in the last quarter. Los Angeles Capital Management LLC boosted its stake in ON Semiconductor by 39.8% in the 2nd quarter. Los Angeles Capital Management LLC now owns 170,747 shares of the semiconductor company’s stock worth $8,590,000 after purchasing an additional 48,580 shares during the period. Finally, Convergence Investment Partners LLC boosted its stake in shares of ON Semiconductor by 57.5% during the 2nd quarter. Convergence Investment Partners LLC now owns 8,571 shares of the semiconductor company’s stock worth $431,000 after buying an additional 3,128 shares during the last quarter. 92.86% of the stock is currently 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.

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