ON Semiconductor Corporation (ON) Earns “Neutral” Rating from J P Morgan Chase & Co
ON Semiconductor Corporation (NASDAQ:ON)‘s stock had its “neutral” rating reiterated by research analysts at J P Morgan Chase & Co in a research report issued to clients and investors on Wednesday. They currently have a $17.00 price objective on the semiconductor company’s stock, up from their prior price objective of $16.00. J P Morgan Chase & Co’s price objective would indicate a potential upside of 3.91% from the company’s previous close.
Several other brokerages have also recently commented on ON. B. Riley reaffirmed a “buy” rating and set a $18.00 target price on shares of ON Semiconductor Corporation in a report on Monday, May 8th. Morgan Stanley raised their target price on shares of ON Semiconductor Corporation from $16.00 to $17.00 and gave the stock an “equal weight” rating in a report on Tuesday. ValuEngine cut shares of ON Semiconductor Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Mizuho reaffirmed an “outperform” rating and set a $19.00 target price (up from $18.00) on shares of ON Semiconductor Corporation in a report on Wednesday. Finally, BidaskClub cut shares of ON Semiconductor Corporation from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company. ON Semiconductor Corporation presently has an average rating of “Buy” and an average target price of $16.97.
Shares of ON Semiconductor Corporation (NASDAQ ON) traded down 0.49% during mid-day trading on Wednesday, hitting $16.36. The company’s stock had a trading volume of 9,036,728 shares. The company has a 50-day moving average price of $14.96 and a 200-day moving average price of $14.89. ON Semiconductor Corporation has a 1-year low of $9.78 and a 1-year high of $16.93. The stock has a market cap of $6.88 billion, a PE ratio of 31.46 and a beta of 1.97.
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In other news, EVP Robert A. Klosterboer sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, June 20th. The shares were sold at an average price of $15.40, for a total value of $154,000.00. Following the completion of the sale, the executive vice president now directly owns 324,320 shares of the company’s stock, valued at approximately $4,994,528. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP William Hall sold 41,364 shares of the firm’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $15.30, for a total transaction of $632,869.20. The disclosure for this sale can be found here. Insiders sold a total of 124,690 shares of company stock worth $1,954,040 in the last three months. Insiders own 1.60% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of ON. LSV Asset Management raised its stake in ON Semiconductor Corporation by 2,285.0% in the second quarter. LSV Asset Management now owns 2,761,800 shares of the semiconductor company’s stock worth $38,775,000 after buying an additional 2,646,000 shares in the last quarter. Commerzbank Aktiengesellschaft FI purchased a new stake in ON Semiconductor Corporation during the second quarter worth $542,000. Oppenheimer Asset Management Inc. raised its stake in ON Semiconductor Corporation by 13.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 8,060 shares of the semiconductor company’s stock worth $113,000 after buying an additional 960 shares in the last quarter. Swiss National Bank raised its stake in ON Semiconductor Corporation by 1.5% in the second quarter. Swiss National Bank now owns 699,800 shares of the semiconductor company’s stock worth $9,825,000 after buying an additional 10,100 shares in the last quarter. Finally, Pacad Investment Ltd. raised its stake in ON Semiconductor Corporation by 19.6% in the second quarter. Pacad Investment Ltd. now owns 158,131 shares of the semiconductor company’s stock worth $2,220,000 after buying an additional 25,900 shares in the last quarter. Institutional investors own 97.43% of the company’s stock.
ON Semiconductor Corporation Company Profile
ON Semiconductor Corporation offers a portfolio of sensors, power management, connectivity, custom and system on chip (SoC), analog, logic, timing, and discrete devices. The Company’s segments include Power Solutions Group, Analog Solutions Group and Image Sensor Group. The Power Solutions Group offers a range of discrete, module and integrated semiconductor products.
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