ON Semiconductor (NASDAQ:ON) PT Raised to $75.00

ON Semiconductor (NASDAQ:ONGet Rating) had its target price lifted by equities researchers at Citigroup from $73.00 to $75.00 in a research report issued to clients and investors on Tuesday, The Fly reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Citigroup’s price target indicates a potential upside of 8.96% from the stock’s previous close.

Several other equities analysts have also recently issued reports on the stock. Truist Financial lowered their price objective on shares of ON Semiconductor from $73.00 to $65.00 and set a “buy” rating on the stock in a research note on Friday, April 8th. Wells Fargo & Company raised shares of ON Semiconductor from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $58.00 to $65.00 in a research note on Wednesday, May 11th. Bank of America dropped their target price on shares of ON Semiconductor from $80.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, June 29th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of ON Semiconductor from $70.00 to $65.00 in a research report on Wednesday, July 20th. Finally, Needham & Company LLC dropped their target price on shares of ON Semiconductor to $60.00 in a research report on Tuesday, July 5th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, ON Semiconductor presently has an average rating of “Moderate Buy” and an average price target of $71.46.

ON Semiconductor Stock Up 4.9 %

ON stock opened at $68.83 on Tuesday. ON Semiconductor has a 52 week low of $40.85 and a 52 week high of $71.25. The company has a market capitalization of $29.91 billion, a price-to-earnings ratio of 17.83, a price-to-earnings-growth ratio of 0.67 and a beta of 1.82. The firm’s 50-day moving average is $57.12 and its two-hundred day moving average is $57.55. The company has a current ratio of 2.79, a quick ratio of 1.83 and a debt-to-equity ratio of 0.56.

ON Semiconductor (NASDAQ:ONGet Rating) last announced 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 company had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.01 billion. ON Semiconductor had a net margin of 22.60% and a return on equity of 41.43%. The business’s revenue was up 24.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.63 EPS. On average, analysts forecast that ON Semiconductor will post 4.9 earnings per share for the current fiscal year.

Insider Buying and Selling at ON Semiconductor

In other 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 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 can be accessed through the SEC website. 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 transaction, the executive vice president now owns 169,073 shares in the company, valued at approximately $8,808,703.30. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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 in the company, 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

A number of large investors have recently added to or reduced their stakes in ON. Cedar Mountain Advisors LLC acquired a new position in ON Semiconductor during the 1st quarter valued at about $25,000. Tsfg LLC acquired a new position in ON Semiconductor during the 4th quarter valued at about $27,000. IronBridge Private Wealth LLC acquired a new position in ON Semiconductor during the 4th quarter valued at about $27,000. Assetmark Inc. acquired a new position in ON Semiconductor during the 2nd quarter valued at about $27,000. Finally, IndexIQ Advisors LLC acquired a new position in ON Semiconductor during the 1st quarter valued at about $40,000. 92.86% of the stock is currently owned by institutional investors and hedge funds.

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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