ON Semiconductor (NASDAQ:ON) Sets New 1-Year High After Analyst Upgrade

Shares of ON Semiconductor Corp (NASDAQ:ON) hit a new 52-week high during mid-day trading on Tuesday after Benchmark raised their price target on the stock from $26.00 to $28.00. Benchmark currently has a buy rating on the stock. ON Semiconductor traded as high as $25.50 and last traded at $25.34, with a volume of 122219 shares trading hands. The stock had previously closed at $25.32.

Other equities analysts have also issued reports about the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $25.00 price target on shares of ON Semiconductor in a report on Wednesday, December 18th. B. Riley set a $28.00 price target on shares of ON Semiconductor and gave the stock a “buy” rating in a report on Monday, October 21st. Citigroup lifted their price target on shares of ON Semiconductor from $21.00 to $24.50 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Wells Fargo & Co reaffirmed a “hold” rating on shares of ON Semiconductor in a report on Monday, December 9th. Finally, BidaskClub raised shares of ON Semiconductor from a “hold” rating to a “buy” rating in a report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, four have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $25.04.

In other ON Semiconductor news, SVP Taner Ozcelik sold 141,739 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $25.00, for a total value of $3,543,475.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Paul E. Rolls sold 10,837 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $25.02, for a total transaction of $271,141.74. The disclosure for this sale can be found here. Insiders have sold 222,858 shares of company stock valued at $5,390,884 over the last 90 days. 1.40% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the company. Simon Quick Advisors LLC purchased a new stake in shares of ON Semiconductor during the fourth quarter worth about $32,000. Steward Partners Investment Advisory LLC increased its stake in shares of ON Semiconductor by 76.0% during the third quarter. Steward Partners Investment Advisory LLC now owns 1,894 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 818 shares in the last quarter. Stonebridge Capital Advisors LLC purchased a new stake in shares of ON Semiconductor during the second quarter worth about $71,000. ETF Managers Group LLC increased its stake in shares of ON Semiconductor by 44.6% during the second quarter. ETF Managers Group LLC now owns 8,458 shares of the semiconductor company’s stock worth $172,000 after purchasing an additional 2,607 shares in the last quarter. Finally, Park Avenue Securities LLC purchased a new stake in shares of ON Semiconductor during the third quarter worth about $205,000. 96.83% of the stock is owned by institutional investors and hedge funds.

The firm has a market cap of $10.10 billion, a PE ratio of 12.93, a PEG ratio of 1.55 and a beta of 2.23. The business’s 50 day moving average price is $23.42 and its 200 day moving average price is $20.50. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.54 and a quick ratio of 0.92.

ON Semiconductor (NASDAQ:ON) last announced its quarterly earnings data on Sunday, October 27th. The semiconductor company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.03). ON Semiconductor had a net margin of 5.71% and a return on equity of 21.95%. The business had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.38 billion. During the same period in the prior year, the company posted $0.57 EPS. The firm’s revenue was down 10.4% on a year-over-year basis. As a group, analysts predict that ON Semiconductor Corp will post 1.51 earnings per share for the current year.

ON Semiconductor Company Profile (NASDAQ:ON)

ON Semiconductor Corporation manufactures and sells semiconductor components for various electronic devices worldwide. The company operates in three segments: Power Solutions Group, Analog Solutions Group, and Intelligent Sensing Group. The Power Solutions Group segment offers discrete, module, and integrated semiconductor products for various applications, such as power switching and conversion, signal conditioning, circuit protection, signal amplification, and voltage reference.

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