ON Semiconductor’s (ON) Neutral Rating Reiterated at B. Riley

B. Riley restated their neutral rating on shares of ON Semiconductor (NASDAQ:ON) in a report published on Wednesday, Marketbeat Ratings reports. They currently have a $56.00 price objective on the semiconductor company’s stock, up from their prior price objective of $40.00.

Several other brokerages also recently commented on ON. Citigroup dropped their target price on shares of ON Semiconductor from $52.00 to $40.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. UBS Group dropped their price objective on shares of ON Semiconductor from $55.00 to $40.00 and set a “neutral” rating on the stock in a report on Tuesday, April 29th. Wells Fargo & Company upped their target price on shares of ON Semiconductor from $45.00 to $60.00 and gave the stock an “overweight” rating in a research note on Monday, June 16th. Robert W. Baird dropped their price target on ON Semiconductor from $42.00 to $34.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 6th. Finally, KGI Securities began coverage on ON Semiconductor in a research report on Friday, May 23rd. They set a “neutral” rating for the company. Thirteen analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $55.62.

ON Semiconductor Price Performance

Shares of ON stock opened at $52.82 on Wednesday. The firm’s 50 day moving average price is $43.53 and its two-hundred day moving average price is $49.29. The stock has a market cap of $22.07 billion, a PE ratio of 36.68, a PEG ratio of 4.26 and a beta of 1.39. ON Semiconductor has a 52-week low of $31.04 and a 52-week high of $80.08. The company has a debt-to-equity ratio of 0.42, a quick ratio of 3.32 and a current ratio of 4.95.

ON Semiconductor (NASDAQ:ON) last announced its quarterly earnings results on Monday, May 5th. The semiconductor company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. The company had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.40 billion. ON Semiconductor had a return on equity of 17.40% and a net margin of 9.51%. ON Semiconductor’s revenue was down 22.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.08 EPS. As a group, analysts forecast that ON Semiconductor will post 2.6 EPS for the current year.

Institutional Investors Weigh In On ON Semiconductor

A number of large investors have recently bought and sold shares of the company. Truvestments Capital LLC raised its position in shares of ON Semiconductor by 3.8% in the 4th quarter. Truvestments Capital LLC now owns 5,661 shares of the semiconductor company’s stock valued at $357,000 after buying an additional 207 shares in the last quarter. Assetmark Inc. raised its position in ON Semiconductor by 0.3% during the fourth quarter. Assetmark Inc. now owns 78,495 shares of the semiconductor company’s stock valued at $4,949,000 after purchasing an additional 235 shares in the last quarter. Huntington National Bank lifted its stake in ON Semiconductor by 8.9% during the fourth quarter. Huntington National Bank now owns 3,310 shares of the semiconductor company’s stock worth $209,000 after purchasing an additional 271 shares during the last quarter. Elequin Capital LP boosted its holdings in shares of ON Semiconductor by 108.3% in the 4th quarter. Elequin Capital LP now owns 527 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 274 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. increased its stake in shares of ON Semiconductor by 2.3% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 13,025 shares of the semiconductor company’s stock valued at $530,000 after purchasing an additional 289 shares during the last quarter. 97.70% of the stock is currently owned by institutional investors and hedge funds.

About ON Semiconductor

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.