ON Semiconductor Corporation (NASDAQ:ON) Receives Average Recommendation of “Hold” from Analysts

ON Semiconductor Corporation (NASDAQ:ON) has received an average rating of “Hold” from the twenty-four ratings firms that are covering the company, MarketBeat reports. Thirteen equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $56.13.

ON has been the subject of a number of analyst reports. Mizuho increased their target price on shares of ON Semiconductor from $60.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, June 26th. Citigroup upped their price target on ON Semiconductor from $40.00 to $60.00 and gave the stock a “neutral” rating in a report on Monday, July 7th. KeyCorp boosted their price objective on ON Semiconductor from $50.00 to $65.00 and gave the company an “overweight” rating in a research report on Tuesday, July 8th. The Goldman Sachs Group started coverage on ON Semiconductor in a research note on Thursday, July 10th. They set a “neutral” rating and a $60.00 target price for the company. Finally, Rosenblatt Securities reissued a “neutral” rating and issued a $42.00 price target on shares of ON Semiconductor in a report on Tuesday, May 6th.

ON Semiconductor Stock Down 0.6%

Shares of ON stock opened at $58.05 on Thursday. The company has a current ratio of 4.95, a quick ratio of 3.32 and a debt-to-equity ratio of 0.42. ON Semiconductor has a twelve month low of $31.04 and a twelve month high of $79.45. The stock has a 50 day moving average of $53.24 and a 200 day moving average of $47.83. The stock has a market cap of $24.26 billion, a P/E ratio of 40.31, a P/E/G ratio of 4.80 and a beta of 1.43.

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

Institutional Investors Weigh In On ON Semiconductor

Hedge funds have recently modified their holdings of the company. Janus Henderson Group PLC increased its position in shares of ON Semiconductor by 9.2% during the 4th quarter. Janus Henderson Group PLC now owns 12,377,264 shares of the semiconductor company’s stock worth $780,387,000 after purchasing an additional 1,041,989 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of ON Semiconductor by 1.0% during the first quarter. Ameriprise Financial Inc. now owns 11,328,463 shares of the semiconductor company’s stock valued at $460,958,000 after acquiring an additional 110,735 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of ON Semiconductor by 15.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 5,835,332 shares of the semiconductor company’s stock valued at $312,774,000 after acquiring an additional 774,087 shares during the last quarter. Baillie Gifford & Co. purchased a new stake in shares of ON Semiconductor in the 1st quarter valued at approximately $219,001,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of ON Semiconductor by 18.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,014,671 shares of the semiconductor company’s stock worth $316,195,000 after acquiring an additional 771,610 shares during the last quarter. Hedge funds and other institutional investors own 97.70% of the company’s stock.

ON Semiconductor Company Profile

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.