ON Semiconductor (NASDAQ:ON) Price Target Increased to $65.00 by Analysts at Morgan Stanley

ON Semiconductor (NASDAQ:ONGet Rating) had its target price raised by Morgan Stanley from $56.00 to $65.00 in a report released on Tuesday morning, The Fly reports. They currently have an equal weight rating on the semiconductor company’s stock.

A number of other equities analysts also recently weighed in on the company. Bank of America cut their target price on ON Semiconductor from $80.00 to $65.00 and set a buy rating on the stock in a research note on Wednesday, June 29th. Summit Insights downgraded ON Semiconductor from a buy rating to a hold rating in a research note on Monday. Needham & Company LLC dropped their price objective on ON Semiconductor to $60.00 in a research note on Tuesday, July 5th. Benchmark reiterated a buy rating and issued a $72.00 price objective on shares of ON Semiconductor in a research note on Tuesday, May 3rd. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on ON Semiconductor from $70.00 to $65.00 in a research note on Wednesday, July 20th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $71.46.

ON Semiconductor Price Performance

Shares of NASDAQ ON opened at $65.59 on Tuesday. ON Semiconductor has a twelve month low of $40.85 and a twelve month high of $71.25. The stock’s 50 day moving average price is $56.87 and its 200-day moving average price is $57.47. The company has a market capitalization of $28.50 billion, a PE ratio of 20.12, a PEG ratio of 0.71 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 0.60.

ON Semiconductor (NASDAQ:ONGet Rating) last announced its earnings results on Monday, August 1st. The semiconductor company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.08. ON Semiconductor had a return on equity of 38.08% and a net margin of 20.13%. The firm had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter in the previous year, the business earned $0.63 EPS. The company’s revenue was up 24.9% compared to the same quarter last year. On average, equities analysts anticipate that ON Semiconductor will post 4.9 EPS for the current year.

Insider Activity at ON Semiconductor

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

Institutional Trading of ON Semiconductor

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Shaker Investments LLC OH purchased a new stake in shares of ON Semiconductor during the first quarter valued at approximately $973,000. Norges Bank purchased a new stake in ON Semiconductor during the 4th quarter valued at $373,702,000. Ameritas Advisory Services LLC purchased a new stake in ON Semiconductor during the first quarter valued at $683,000. CVA Family Office LLC increased its position in shares of ON Semiconductor by 222.2% during the 1st quarter. CVA Family Office LLC now owns 725 shares of the semiconductor company’s stock valued at $45,000 after purchasing an additional 500 shares during the last quarter. Finally, Laidlaw Wealth Management LLC purchased a new stake in ON Semiconductor during the fourth quarter valued at approximately $206,000. Hedge funds and other institutional investors own 92.86% of the company’s stock.

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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