ON Semiconductor’s (ON) “Maintains” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reiterated their maintains rating on shares of ON Semiconductor (NASDAQ:ONGet Rating) in a report issued on Tuesday morning, Marketbeat Ratings reports.

A number of other equities analysts also recently commented on the stock. Susquehanna boosted their price objective on shares of ON Semiconductor from $77.00 to $82.00 and gave the stock a maintains rating in a research note on Tuesday. Morgan Stanley boosted their price objective on shares of ON Semiconductor from $56.00 to $65.00 and gave the stock an equal weight rating in a research note on Tuesday. Benchmark reissued a buy rating and issued a $72.00 price objective on shares of ON Semiconductor in a research note on Tuesday, May 3rd. Cowen boosted their price objective on shares of ON Semiconductor from $65.00 to $81.00 and gave the stock a maintains rating in a research note on Tuesday. Finally, Summit Insights downgraded ON Semiconductor from a buy rating to a hold rating in a research report on Monday. 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. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $71.46.

ON Semiconductor Stock Performance

ON Semiconductor stock opened at $65.59 on Tuesday. The company has a 50 day moving average price of $56.87 and a 200-day moving average price of $57.47. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.83 and a current ratio of 2.79. ON Semiconductor has a fifty-two week low of $40.85 and a fifty-two week high of $71.25. The company has a market capitalization of $28.50 billion, a PE ratio of 20.12, a P/E/G ratio of 0.71 and a beta of 1.82.

ON Semiconductor (NASDAQ:ONGet Rating) last posted its quarterly earnings results on Monday, August 1st. The semiconductor company reported $1.34 earnings per share for the quarter, beating 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 net margin of 20.13% and a return on equity of 38.08%. The company’s revenue was up 24.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.63 earnings per share. As a group, equities analysts forecast that ON Semiconductor will post 4.9 earnings per share for the current year.

Insiders Place Their Bets

In other ON Semiconductor news, CEO Hassane El-Khoury sold 20,000 shares of the company’s stock in a transaction dated 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 in the company, valued at $14,669,469.54. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, EVP Vince Craig Hopkin sold 6,296 shares of the company’s stock in a transaction dated Tuesday, May 10th. The shares were 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 owns 169,073 shares in the company, valued at approximately $8,808,703.30. The transaction was disclosed in a legal filing with the SEC, 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 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 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. Insiders own 0.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ON. Shaker Investments LLC OH acquired a new stake in ON Semiconductor in the 1st quarter valued at about $973,000. Norges Bank acquired a new stake in ON Semiconductor in the 4th quarter valued at about $373,702,000. Ameritas Advisory Services LLC purchased a new stake in shares of ON Semiconductor in the 1st quarter valued at approximately $683,000. CVA Family Office LLC grew its stake in shares of ON Semiconductor by 222.2% in the 1st quarter. CVA Family Office LLC now owns 725 shares of the semiconductor company’s stock valued at $45,000 after buying an additional 500 shares during the period. Finally, Laidlaw Wealth Management LLC purchased a new stake in shares of ON Semiconductor in the 4th quarter valued at approximately $206,000. Institutional investors and hedge funds own 92.86% of the company’s stock.

ON Semiconductor Company Profile

(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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Analyst Recommendations for ON Semiconductor (NASDAQ:ON)

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