Jefferies Financial Group Raises ON Semiconductor (NASDAQ:ON) Price Target to $77.00

ON Semiconductor (NASDAQ:ONGet Rating) had its price target upped by Jefferies Financial Group from $75.00 to $77.00 in a research report released on Tuesday, Benzinga reports. They currently have a buy rating on the semiconductor company’s stock. Jefferies Financial Group also issued estimates for ON Semiconductor’s Q3 2022 earnings at $1.31 EPS, Q4 2022 earnings at $1.25 EPS, FY2022 earnings at $5.11 EPS, Q1 2023 earnings at $1.20 EPS, Q4 2023 earnings at $1.29 EPS and FY2023 earnings at $4.98 EPS.

Several other analysts also recently issued reports on the stock. Morgan Stanley lifted their price target on shares of ON Semiconductor from $56.00 to $65.00 and gave the company an equal weight rating in a research report on Tuesday. Cowen lifted their price objective on shares of ON Semiconductor from $65.00 to $81.00 and gave the stock an outperform rating in a report on Tuesday. Truist Financial cut their price objective on shares of ON Semiconductor from $73.00 to $65.00 and set a buy rating on the stock in a report on Friday, April 8th. B. Riley lifted their price objective on shares of ON Semiconductor from $77.00 to $80.00 and gave the stock a buy rating in a report on Tuesday. Finally, StockNews.com downgraded shares of ON Semiconductor from a buy rating to a hold rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $72.23.

ON Semiconductor Stock Performance

NASDAQ ON opened at $68.05 on Tuesday. The company has a fifty day simple moving average of $57.30 and a 200 day simple moving average of $57.56. ON Semiconductor has a 12-month low of $40.85 and a 12-month high of $71.25. The company has a current ratio of 2.79, a quick ratio of 1.83 and a debt-to-equity ratio of 0.56. The company has a market cap of $29.57 billion, a P/E ratio of 17.63, a PEG ratio of 0.50 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 (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.08. ON Semiconductor had a net margin of 22.60% and a return on equity of 41.43%. The business had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter last year, the firm posted $0.63 EPS. ON Semiconductor’s revenue was up 24.9% compared to the same quarter last year. Sell-side analysts predict that ON Semiconductor will post 5.07 earnings per share for the current fiscal year.

Insider Activity

In other news, 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 sale, the chief executive officer now directly owns 261,162 shares in the company, valued at $14,669,469.54. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, EVP Vince Craig Hopkin sold 6,296 shares of the business’s 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 completion of the transaction, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Hassane El-Khoury sold 20,000 shares of the business’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 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. Company insiders own 0.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ON. Norges Bank purchased a new stake in ON Semiconductor in the fourth quarter worth approximately $373,702,000. Mackenzie Financial Corp boosted its stake in ON Semiconductor by 231.5% in the fourth quarter. Mackenzie Financial Corp now owns 5,139,465 shares of the semiconductor company’s stock worth $349,072,000 after buying an additional 3,588,933 shares in the last quarter. Allianz Asset Management GmbH boosted its stake in ON Semiconductor by 18.0% in the fourth quarter. Allianz Asset Management GmbH now owns 14,591,648 shares of the semiconductor company’s stock worth $991,036,000 after buying an additional 2,226,677 shares in the last quarter. Pendal Group Ltd boosted its stake in ON Semiconductor by 3,085.9% in the first quarter. Pendal Group Ltd now owns 1,808,674 shares of the semiconductor company’s stock worth $113,241,000 after buying an additional 1,751,903 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in ON Semiconductor by 3.7% in the first quarter. Vanguard Group Inc. now owns 41,662,400 shares of the semiconductor company’s stock worth $2,608,483,000 after buying an additional 1,494,114 shares in the last quarter. Hedge funds and other institutional investors 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.

Read More

Analyst Recommendations for ON Semiconductor (NASDAQ:ON)

Want More Great Investing Ideas?

Receive News & Ratings for ON Semiconductor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ON Semiconductor and related companies with MarketBeat.com's FREE daily email newsletter.