ON Semiconductor Corporation (ON) Given New $17.00 Price Target at Credit Suisse Group
ON Semiconductor Corporation (NASDAQ:ON) had its price objective increased by Credit Suisse Group from $14.50 to $17.00 in a research report sent to investors on Tuesday morning. Credit Suisse Group currently has an underperform rating on the semiconductor company’s stock.
A number of other research firms have also recently weighed in on ON. Jefferies Group LLC increased their price target on ON Semiconductor Corporation from $20.00 to $21.00 and gave the stock a hold rating in a report on Tuesday. Craig Hallum increased their price target on ON Semiconductor Corporation from $25.00 to $26.00 and gave the stock a buy rating in a report on Tuesday. Loop Capital increased their price target on ON Semiconductor Corporation from $22.00 to $27.00 and gave the stock a buy rating in a report on Tuesday. Summit Redstone cut ON Semiconductor Corporation to a hold rating in a report on Monday. Finally, Mizuho reiterated a buy rating and set a $24.00 price target (up from $19.00) on shares of ON Semiconductor Corporation in a report on Monday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the stock. The stock has an average rating of Buy and an average price target of $20.70.
Shares of ON Semiconductor Corporation (NASDAQ:ON) traded up $0.24 on Tuesday, hitting $21.85. The company’s stock had a trading volume of 5,906,396 shares, compared to its average volume of 6,240,000. ON Semiconductor Corporation has a twelve month low of $10.84 and a twelve month high of $22.03. The firm has a market cap of $9,260.00, a P/E ratio of 19.64, a PEG ratio of 0.84 and a beta of 2.06. The company has a quick ratio of 1.29, a current ratio of 2.03 and a debt-to-equity ratio of 1.36.
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In related news, Director Daryl Ostrander sold 2,000 shares of ON Semiconductor Corporation stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $16.78, for a total value of $33,560.00. Following the sale, the director now directly owns 65,458 shares in the company, valued at $1,098,385.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP George H. Cave sold 6,943 shares of ON Semiconductor Corporation stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $17.00, for a total value of $118,031.00. Following the completion of the sale, the executive vice president now owns 330,496 shares in the company, valued at $5,618,432. The disclosure for this sale can be found here. Insiders have sold a total of 620,517 shares of company stock worth $12,041,308 in the last three months. Corporate insiders own 1.40% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of ON. Oppenheimer Asset Management Inc. acquired a new position in shares of ON Semiconductor Corporation in the first quarter worth $110,000. Nine Chapters Capital Management LLC acquired a new position in ON Semiconductor Corporation in the second quarter valued at $157,000. Marshall Wace North America L.P. acquired a new position in ON Semiconductor Corporation in the second quarter valued at $184,000. Cambridge Investment Research Advisors Inc. acquired a new position in ON Semiconductor Corporation in the third quarter valued at $200,000. Finally, Airain ltd acquired a new position in ON Semiconductor Corporation in the second quarter valued at $207,000. Institutional investors own 98.52% of the company’s stock.
About ON Semiconductor Corporation
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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