Credit Suisse Group AG Reiterates Buy Rating for ON Semiconductor Corp. (ON)
ON Semiconductor Corp. (NASDAQ:ON)‘s stock had its “buy” rating restated by investment analysts at Credit Suisse Group AG in a research note issued to investors on Tuesday. They currently have a $15.00 price objective on the stock. Credit Suisse Group AG’s target price indicates a potential upside of 27.33% from the stock’s previous close.
Other analysts also recently issued reports about the company. Zacks Investment Research downgraded ON Semiconductor Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, July 26th. Susquehanna began coverage on ON Semiconductor Corp. in a research note on Tuesday. They set a “positive” rating for the company. Mizuho restated an “outperform” rating and set a $16.00 target price on shares of ON Semiconductor Corp. in a research note on Friday, September 9th. KeyCorp restated a “buy” rating and set a $13.00 target price on shares of ON Semiconductor Corp. in a research note on Wednesday, July 6th. Finally, B. Riley restated a “buy” rating and set a $15.00 target price on shares of ON Semiconductor Corp. in a research note on Tuesday, August 9th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and seventeen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $13.41.
ON Semiconductor Corp. (NASDAQ:ON) opened at 11.78 on Tuesday. The firm has a market cap of $4.90 billion, a PE ratio of 30.21 and a beta of 1.64. ON Semiconductor Corp. has a 12 month low of $6.97 and a 12 month high of $12.00. The company has a 50-day moving average price of $10.61 and a 200 day moving average price of $9.75.
ON Semiconductor Corp. (NASDAQ:ON) last announced its quarterly earnings results on Monday, August 8th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.02. ON Semiconductor Corp. had a return on equity of 20.14% and a net margin of 4.70%. The firm earned $877.80 million during the quarter, compared to the consensus estimate of $854.55 million. During the same period in the prior year, the firm earned $0.22 EPS. The firm’s quarterly revenue was down .3% compared to the same quarter last year. Equities research analysts anticipate that ON Semiconductor Corp. will post $0.85 EPS for the current year.
In other ON Semiconductor Corp. news, VP Paul E. Rolls sold 15,000 shares of ON Semiconductor Corp. stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $11.25, for a total value of $168,750.00. Following the transaction, the vice president now owns 277,202 shares in the company, valued at $3,118,522.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 1.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC raised its position in ON Semiconductor Corp. by 5.6% in the first quarter. Geode Capital Management LLC now owns 2,652,199 shares of the company’s stock worth $25,433,000 after buying an additional 139,951 shares in the last quarter. Nuveen Asset Management LLC raised its position in ON Semiconductor Corp. by 343.8% in the first quarter. Nuveen Asset Management LLC now owns 784,062 shares of the company’s stock worth $7,519,000 after buying an additional 607,400 shares in the last quarter. Jericho Capital Asset Management L.P. purchased a new position in ON Semiconductor Corp. during the first quarter worth approximately $20,484,000. Prudential Financial Inc. raised its position in ON Semiconductor Corp. by 1,713.4% in the first quarter. Prudential Financial Inc. now owns 1,426,694 shares of the company’s stock worth $13,682,000 after buying an additional 1,348,020 shares in the last quarter. Finally, Robecosam AG raised its position in ON Semiconductor Corp. by 36.8% in the first quarter. Robecosam AG now owns 959,500 shares of the company’s stock worth $9,317,000 after buying an additional 258,000 shares in the last quarter. Hedge funds and other institutional investors own 94.67% of the company’s stock.
About ON Semiconductor Corp.
ON Semiconductor Corporation offers a portfolio of analog, digital and mixed signal integrated circuits (ICs), standard products, image sensors and custom devices for customers to solve their design challenges in advanced electronic systems and products. The Company operates through four segments: Application Products Group, Image Sensor Group, Standard Products Group, and System Solutions Group.
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