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

ON Semiconductor (NASDAQ:ONGet Rating) had its price objective raised by Mizuho from $68.00 to $72.00 in a report released on Tuesday, The Fly reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Mizuho’s target price indicates a potential upside of 4.61% from the stock’s previous close.

Several other research firms also recently commented on ON. Morgan Stanley decreased their price objective on ON Semiconductor from $60.00 to $56.00 and set an “equal weight” rating for the company in a report on Friday, June 10th. Needham & Company LLC decreased their price objective on ON Semiconductor to $60.00 in a report on Tuesday, July 5th. Deutsche Bank Aktiengesellschaft decreased their price objective on ON Semiconductor from $70.00 to $65.00 in a report on Wednesday, July 20th. The Goldman Sachs Group decreased their price objective on ON Semiconductor from $74.00 to $60.00 in a report on Friday, July 15th. Finally, Bank of America decreased their price objective on ON Semiconductor from $80.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, June 29th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $71.46.

ON Semiconductor Price Performance

ON Semiconductor stock opened at $68.83 on Tuesday. The stock’s 50 day moving average is $57.12 and its 200 day moving average is $57.55. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.79 and a quick ratio of 1.83. The firm has a market cap of $29.91 billion, a P/E ratio of 17.83, a P/E/G ratio of 0.67 and a beta of 1.82. ON Semiconductor has a one year low of $40.85 and a one year high of $71.25.

ON Semiconductor (NASDAQ:ONGet Rating) last issued its quarterly earnings results on Monday, August 1st. The semiconductor company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.08. ON Semiconductor had a return on equity of 41.43% and a net margin of 22.60%. The firm had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same period in the previous year, the firm earned $0.63 earnings per share. The company’s revenue was up 24.9% compared to the same quarter last year. As a group, research analysts expect that ON Semiconductor will post 4.9 EPS for the current year.

Insider Buying and Selling

In related news, EVP Vince Craig Hopkin sold 6,296 shares of the stock in a transaction dated Tuesday, May 10th. The stock was sold at an average price of $52.10, for a total transaction of $328,021.60. Following the sale, the executive vice president now owns 169,073 shares of the company’s stock, valued at approximately $8,808,703.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other ON Semiconductor 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 value of $1,123,400.00. Following the sale, the chief executive officer now owns 261,162 shares of the company’s stock, valued at approximately $14,669,469.54. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Vince Craig Hopkin sold 6,296 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now directly owns 169,073 shares in the company, valued at approximately $8,808,703.30. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by insiders.

Institutional Trading of ON Semiconductor

Several institutional investors and hedge funds have recently modified their holdings of the business. IronBridge Private Wealth LLC bought a new position in shares of ON Semiconductor during the 4th quarter valued at about $27,000. Tsfg LLC bought a new position in shares of ON Semiconductor during the 4th quarter valued at about $27,000. Cedar Mountain Advisors LLC bought a new position in shares of ON Semiconductor during the 1st quarter valued at about $25,000. Assetmark Inc. bought a new position in shares of ON Semiconductor during the 2nd quarter valued at about $27,000. Finally, IndexIQ Advisors LLC bought a new position in shares of ON Semiconductor during the 1st quarter valued at about $40,000. 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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