Credit Agricole SA Raises ON Semiconductor Corp. (ON) Price Target to $13.00
ON Semiconductor Corp. (NASDAQ:ON) had its target price lifted by Credit Agricole SA from $12.00 to $13.00 in a research note issued to investors on Tuesday. The firm currently has a market perform rating on the stock.
A number of other equities analysts have also recently commented on ON. Stifel Nicolaus restated a buy rating and set a $11.00 target price on shares of ON Semiconductor Corp. in a report on Tuesday, May 31st. Stephens started coverage on ON Semiconductor Corp. in a research report on Thursday, June 2nd. They issued an equal weight rating and a $11.00 price target on the stock. Wedbush reaffirmed an outperform rating and issued a $13.00 price target (up previously from $12.00) on shares of ON Semiconductor Corp. in a research report on Friday, June 3rd. Pacific Crest raised ON Semiconductor Corp. from a sector weight rating to an overweight rating and set a $13.00 price target on the stock in a research report on Monday, June 13th. Finally, Mizuho reaffirmed a buy rating and issued a $16.00 price target on shares of ON Semiconductor Corp. in a research report on Tuesday, June 14th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seventeen have issued a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $13.61.
Shares of ON Semiconductor Corp. (NASDAQ:ON) opened at 12.04 on Tuesday. ON Semiconductor Corp. has a 12 month low of $6.97 and a 12 month high of $12.22. The company has a 50-day moving average price of $10.67 and a 200-day moving average price of $9.76. The stock has a market cap of $5.00 billion, a price-to-earnings ratio of 30.87 and a beta of 1.64.
ON Semiconductor Corp. (NASDAQ:ON) last announced its earnings results on Monday, August 8th. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates 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 company earned $877.80 million during the quarter, compared to analysts’ expectations of $854.55 million. During the same period last year, the business posted $0.22 EPS. ON Semiconductor Corp.’s revenue for the quarter was down .3% on a year-over-year basis. On average, analysts expect that ON Semiconductor Corp. will post $0.86 EPS for the current fiscal year.
In related news, VP Paul E. Rolls sold 15,000 shares of ON Semiconductor Corp. stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $11.25, for a total value of $168,750.00. Following the sale, the vice president now directly 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 can be accessed through this link. 1.60% of the stock is owned by corporate insiders.
Several hedge funds have recently bought and sold shares of ON. Geode Capital Management LLC increased its stake 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 during the period. Nuveen Asset Management LLC increased its stake 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 during the last quarter. Jericho Capital Asset Management L.P. purchased a new stake in ON Semiconductor Corp. during the first quarter worth approximately $20,484,000. Prudential Financial Inc. increased its stake 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 during the last quarter. Finally, Robecosam AG increased its stake 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 during the last quarter. Hedge funds and other institutional investors own 94.67% of the company’s stock.
ON Semiconductor Corp. Company Profile
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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