ON Semiconductor (NASDAQ:ON) Price Target Raised to $58.00

ON Semiconductor (NASDAQ:ON) had its price objective boosted by Needham & Company LLC from $50.00 to $58.00 in a report released on Monday morning,Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

ON has been the topic of a number of other research reports. Cantor Fitzgerald began coverage on ON Semiconductor in a research note on Wednesday, June 18th. They set a “neutral” rating and a $55.00 price objective on the stock. KGI Securities initiated coverage on shares of ON Semiconductor in a report on Friday, May 23rd. They set a “neutral” rating for the company. UBS Group reissued a “neutral” rating and issued a $55.00 price objective (up previously from $45.00) on shares of ON Semiconductor in a research report on Monday, July 7th. The Goldman Sachs Group began coverage on shares of ON Semiconductor in a research report on Thursday, July 10th. They set a “neutral” rating and a $60.00 target price on the stock. Finally, Susquehanna lifted their target price on shares of ON Semiconductor from $50.00 to $75.00 and gave the stock a “positive” rating in a research note on Tuesday, July 22nd. Fifteen investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $56.84.

ON Semiconductor Stock Performance

NASDAQ:ON opened at $46.98 on Monday. The company has a current ratio of 5.02, a quick ratio of 3.32 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $19.21 billion, a P/E ratio of 43.91, a price-to-earnings-growth ratio of 3.89 and a beta of 1.45. The firm has a 50-day moving average price of $54.13 and a two-hundred day moving average price of $47.70. ON Semiconductor has a twelve month low of $31.04 and a twelve month high of $78.61.

ON Semiconductor (NASDAQ:ON) last issued its quarterly earnings data on Monday, August 4th. The semiconductor company reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.01). ON Semiconductor had a return on equity of 15.33% and a net margin of 7.28%. The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same quarter in the prior year, the firm earned $0.96 earnings per share. The company’s revenue for the quarter was down 15.4% on a year-over-year basis. As a group, research analysts expect that ON Semiconductor will post 2.6 earnings per share for the current fiscal year.

Institutional Trading of ON Semiconductor

Several large investors have recently bought and sold shares of ON. Moody National Bank Trust Division lifted its stake in shares of ON Semiconductor by 1.5% in the second quarter. Moody National Bank Trust Division now owns 11,404 shares of the semiconductor company’s stock worth $598,000 after acquiring an additional 169 shares in the last quarter. Freedom Investment Management Inc. increased its holdings in ON Semiconductor by 2.6% during the 2nd quarter. Freedom Investment Management Inc. now owns 7,853 shares of the semiconductor company’s stock worth $412,000 after purchasing an additional 196 shares during the last quarter. New York Life Investment Management LLC raised its position in shares of ON Semiconductor by 0.4% in the 2nd quarter. New York Life Investment Management LLC now owns 62,678 shares of the semiconductor company’s stock valued at $3,285,000 after purchasing an additional 221 shares in the last quarter. Sowell Financial Services LLC boosted its stake in shares of ON Semiconductor by 4.1% during the 2nd quarter. Sowell Financial Services LLC now owns 5,668 shares of the semiconductor company’s stock valued at $297,000 after buying an additional 223 shares during the last quarter. Finally, Applied Finance Capital Management LLC increased its stake in shares of ON Semiconductor by 2.2% in the second quarter. Applied Finance Capital Management LLC now owns 10,668 shares of the semiconductor company’s stock worth $559,000 after buying an additional 225 shares during the last quarter. Institutional investors and hedge funds own 97.70% of the company’s stock.

About ON Semiconductor

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.