Roth Capital Reiterates “Buy” Rating for ON Semiconductor (NASDAQ:ON)

Roth Capital reiterated their buy rating on shares of ON Semiconductor (NASDAQ:ON) in a research note issued to investors on Tuesday, MarketBeat.com reports. Roth Capital currently has a $70.00 target price on the semiconductor company’s stock, up from their prior target price of $50.00.

A number of other equities research analysts also recently commented on ON. TD Cowen lifted their price target on shares of ON Semiconductor from $38.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday, May 6th. Benchmark lowered their price target on shares of ON Semiconductor from $60.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, May 6th. Citigroup lowered their price target on shares of ON Semiconductor from $52.00 to $40.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Stifel Nicolaus lowered their price target on shares of ON Semiconductor from $52.00 to $42.00 and set a “hold” rating for the company in a report on Thursday, April 17th. Finally, Mizuho lowered their price target on shares of ON Semiconductor from $71.00 to $62.00 and set an “outperform” rating for the company in a report on Monday, March 24th. Thirteen equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, ON Semiconductor has an average rating of “Moderate Buy” and a consensus price target of $55.62.

ON Semiconductor Stock Performance

NASDAQ:ON opened at $52.26 on Tuesday. The company has a current ratio of 4.95, a quick ratio of 3.32 and a debt-to-equity ratio of 0.42. The firm has a 50-day moving average price of $43.18 and a two-hundred day moving average price of $49.40. ON Semiconductor has a twelve month low of $31.04 and a twelve month high of $80.08. The company has a market capitalization of $21.84 billion, a P/E ratio of 36.29, a price-to-earnings-growth ratio of 4.26 and a beta of 1.39.

ON Semiconductor (NASDAQ:ON) last posted its earnings results on Monday, May 5th. The semiconductor company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.04. ON Semiconductor had a net margin of 9.51% and a return on equity of 17.40%. The firm had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period last year, the firm posted $1.08 EPS. The firm’s revenue for the quarter was down 22.4% 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 Investors Weigh In On ON Semiconductor

Several institutional investors have recently bought and sold shares of ON. Costello Asset Management INC purchased a new stake in ON Semiconductor during the first quarter worth approximately $26,000. Golden State Wealth Management LLC grew its stake in ON Semiconductor by 83.3% during the first quarter. Golden State Wealth Management LLC now owns 704 shares of the semiconductor company’s stock worth $29,000 after buying an additional 320 shares during the period. Elequin Capital LP grew its stake in ON Semiconductor by 108.3% during the fourth quarter. Elequin Capital LP now owns 527 shares of the semiconductor company’s stock worth $33,000 after buying an additional 274 shares during the period. Opal Wealth Advisors LLC purchased a new stake in ON Semiconductor during the first quarter worth approximately $41,000. Finally, Pilgrim Partners Asia Pte Ltd purchased a new stake in ON Semiconductor during the fourth quarter worth approximately $43,000. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

ON Semiconductor Company Profile

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.