Piper Sandler Increases ON Semiconductor (NASDAQ:ON) Price Target to $100.00

Posted by Defense World Staff on May 19th, 2023

ON Semiconductor (NASDAQ:ON – Get Rating) had its price objective upped by equities researchers at Piper Sandler from $85.00 to $100.00 in a research note issued to investors on Wednesday, The Fly reports. Piper Sandler’s price target would suggest a potential upside of 15.62% from the company’s current price.

A number of other equities analysts have also recently issued reports on the company. Truist Financial increased their target price on ON Semiconductor from $83.00 to $93.00 and gave the stock a “buy” rating in a report on Tuesday, February 7th. JPMorgan Chase & Co. increased their target price on ON Semiconductor from $70.00 to $90.00 and gave the stock a “neutral” rating in a report on Tuesday, February 7th. Summit Insights raised ON Semiconductor from a “hold” rating to a “buy” rating in a report on Monday, February 6th. KeyCorp increased their target price on ON Semiconductor from $80.00 to $100.00 and gave the stock an “overweight” rating in a report on Tuesday, February 7th. Finally, Susquehanna increased their target price on ON Semiconductor from $80.00 to $100.00 and gave the stock a “positive” rating in a report on Tuesday, February 7th. Seven research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $91.08.

ON Semiconductor Trading Up 1.0 %

ON Semiconductor stock opened at $86.49 on Wednesday. The business has a 50 day moving average price of $78.35 and a two-hundred day moving average price of $73.81. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.40. The stock has a market cap of $37.35 billion, a price-to-earnings ratio of 21.10, a price-to-earnings-growth ratio of 4.67 and a beta of 1.74. ON Semiconductor has a 12 month low of $44.76 and a 12 month high of $87.55.

ON Semiconductor (NASDAQ:ON – Get Rating) last posted its quarterly earnings results on Monday, May 1st. The semiconductor company reported $1.19 EPS for the quarter, beating the consensus estimate of $1.09 by $0.10. The firm had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.93 billion. ON Semiconductor had a return on equity of 39.27% and a net margin of 21.98%. The company’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.22 EPS. As a group, equities analysts forecast that ON Semiconductor will post 4.83 EPS for the current year.

ON Semiconductor declared that its Board of Directors has approved a share buyback plan on Monday, February 6th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to purchase up to 8.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at ON Semiconductor

In other news, CEO Hassane El-Khoury sold 5,000 shares of the firm’s stock in a transaction on Monday, April 17th. The stock was sold at an average price of $77.10, for a total value of $385,500.00. Following the transaction, the chief executive officer now directly owns 601,312 shares in the company, valued at approximately $46,361,155.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders have sold 15,000 shares of company stock worth $1,190,200. Insiders own 0.27% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ON. Centaurus Financial Inc. raised its stake in ON Semiconductor by 3.4% during the 1st quarter. Centaurus Financial Inc. now owns 8,382 shares of the semiconductor company’s stock worth $690,000 after buying an additional 279 shares during the period. B. Riley Wealth Advisors Inc. raised its stake in ON Semiconductor by 21.9% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 7,868 shares of the semiconductor company’s stock worth $648,000 after buying an additional 1,413 shares during the period. Advisory Services Network LLC raised its stake in ON Semiconductor by 132.0% during the 1st quarter. Advisory Services Network LLC now owns 29,988 shares of the semiconductor company’s stock worth $2,469,000 after buying an additional 17,064 shares during the period. Rockefeller Capital Management L.P. raised its stake in ON Semiconductor by 152.7% during the 1st quarter. Rockefeller Capital Management L.P. now owns 32,097 shares of the semiconductor company’s stock worth $2,640,000 after buying an additional 19,394 shares during the period. Finally, Chevy Chase Trust Holdings LLC raised its stake in ON Semiconductor by 0.9% during the 1st quarter. Chevy Chase Trust Holdings LLC now owns 251,026 shares of the semiconductor company’s stock worth $20,664,000 after buying an additional 2,314 shares during the period. 96.84% of the stock is currently owned by institutional investors.

About ON Semiconductor

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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.