B. Riley Boosts ON Semiconductor (NASDAQ:ON) Price Target to $80.00

ON Semiconductor (NASDAQ:ONGet Rating) had its price target increased by B. Riley from $77.00 to $80.00 in a report released on Tuesday, The Fly reports. They currently have a buy rating on the semiconductor company’s stock. B. Riley also issued estimates for ON Semiconductor’s Q3 2022 earnings at $1.31 EPS, Q4 2022 earnings at $1.27 EPS, FY2022 earnings at $5.14 EPS, Q1 2023 earnings at $1.22 EPS, Q2 2023 earnings at $1.26 EPS, Q3 2023 earnings at $1.36 EPS, Q4 2023 earnings at $1.36 EPS and FY2023 earnings at $5.20 EPS.

Several other research firms have also issued reports on ON. The Goldman Sachs Group reduced their target price on ON Semiconductor from $74.00 to $60.00 in a report on Friday, July 15th. Summit Insights cut ON Semiconductor from a buy rating to a hold rating in a research note on Monday, August 1st. Needham & Company LLC lowered their price objective on ON Semiconductor to $60.00 in a research note on Tuesday, July 5th. Deutsche Bank Aktiengesellschaft lowered their price objective on ON Semiconductor from $70.00 to $65.00 in a research note on Wednesday, July 20th. Finally, Wells Fargo & Company raised ON Semiconductor from an equal weight rating to an overweight rating and boosted their price objective for the stock from $58.00 to $65.00 in a report on Wednesday, May 11th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $72.23.

ON Semiconductor Stock Down 0.6 %

ON stock opened at $67.63 on Tuesday. The stock’s 50 day simple moving average is $57.43 and its 200 day simple moving average is $57.60. ON Semiconductor has a fifty-two week low of $40.85 and a fifty-two week high of $71.25. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.83 and a current ratio of 2.79. The company has a market cap of $29.30 billion, a P/E ratio of 17.52, a price-to-earnings-growth ratio of 0.52 and a beta of 1.82.

ON Semiconductor (NASDAQ:ONGet Rating) last issued its quarterly earnings data on Monday, August 1st. The semiconductor company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.08. The firm had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.01 billion. ON Semiconductor had a return on equity of 41.43% and a net margin of 22.60%. The company’s revenue for the quarter was up 24.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.63 EPS. On average, research analysts expect that ON Semiconductor will post 5.13 earnings per share for the current fiscal year.

Insider Buying and Selling at ON Semiconductor

In other ON Semiconductor news, EVP Vince Craig Hopkin sold 6,296 shares of ON Semiconductor stock in a transaction on Tuesday, May 10th. The stock was sold at an average price of $52.10, for a total transaction of $328,021.60. Following the completion of the sale, the executive vice president now directly owns 169,073 shares of the company’s stock, valued at approximately $8,808,703.30. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Vince Craig Hopkin sold 6,296 shares of the business’s stock in a transaction on Tuesday, May 10th. The stock was sold at an average price of $52.10, for a total value of $328,021.60. Following the completion of the transaction, the executive vice president now directly owns 169,073 shares of the company’s stock, valued at approximately $8,808,703.30. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Hassane El-Khoury sold 20,000 shares of the business’s stock in a transaction on Monday, July 18th. The stock was sold at an average price of $56.17, for a total value of $1,123,400.00. Following the completion of the transaction, the chief executive officer now directly owns 261,162 shares of the company’s stock, valued at $14,669,469.54. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ON. Janney Montgomery Scott LLC increased its position in ON Semiconductor by 181.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 30,428 shares of the semiconductor company’s stock valued at $2,067,000 after buying an additional 19,601 shares in the last quarter. State of Michigan Retirement System increased its position in ON Semiconductor by 163.6% during the 4th quarter. State of Michigan Retirement System now owns 20,036 shares of the semiconductor company’s stock valued at $1,361,000 after buying an additional 12,436 shares in the last quarter. National Asset Management Inc. purchased a new stake in ON Semiconductor during the 4th quarter valued at about $229,000. Yousif Capital Management LLC purchased a new stake in ON Semiconductor during the 4th quarter valued at about $644,000. Finally, CWM LLC purchased a new stake in ON Semiconductor during the 4th quarter valued at about $46,000. 92.86% of the stock is owned by institutional investors and hedge funds.

About ON Semiconductor

(Get Rating)

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.

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