ON Semiconductor (NASDAQ:ON) PT Raised to $99.00 at Jefferies Financial Group

Posted by Defense World Staff on May 19th, 2023

ON Semiconductor (NASDAQ:ON – Get Rating) had its price target upped by equities researchers at Jefferies Financial Group from $93.00 to $99.00 in a research note issued to investors on Wednesday, The Fly reports. Jefferies Financial Group’s price objective indicates a potential upside of 14.46% from the company’s previous close.

Other research analysts have also issued research reports about the company. Benchmark raised their price objective on ON Semiconductor from $69.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, February 7th. Rosenblatt Securities lifted their price target on ON Semiconductor from $75.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, February 7th. Raymond James lowered ON Semiconductor from an “outperform” rating to a “market perform” rating in a report on Thursday, March 2nd. They noted that the move was a valuation call. Bank of America lifted their price target on ON Semiconductor from $100.00 to $110.00 in a report on Wednesday. Finally, BMO Capital Markets lifted their price target on ON Semiconductor from $75.00 to $80.00 in a report on Tuesday, May 2nd. Seven investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, ON Semiconductor has an average rating of “Moderate Buy” and a consensus price target of $91.08.

ON Semiconductor Trading Up 1.0 %

Shares of ON stock opened at $86.49 on Wednesday. The stock’s fifty day moving average is $78.35 and its two-hundred day moving average is $73.81. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.51 and a current ratio of 2.22. The firm has a market capitalization of $37.35 billion, a P/E ratio of 21.10, a PEG ratio of 4.67 and a beta of 1.74. ON Semiconductor has a fifty-two week low of $44.76 and a fifty-two week high of $87.55.

ON Semiconductor (NASDAQ:ON – Get Rating) last announced its quarterly earnings data on Monday, May 1st. The semiconductor company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.10. The company had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.93 billion. ON Semiconductor had a return on equity of 39.27% and a net margin of 21.98%. The firm’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter last year, the firm posted $1.22 EPS. Research analysts expect that ON Semiconductor will post 4.83 earnings per share for the current fiscal year.

ON Semiconductor declared that its board has authorized a stock repurchase plan on Monday, February 6th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the semiconductor company to repurchase up to 8.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at ON Semiconductor

In other news, CEO Hassane El-Khoury sold 5,000 shares of ON Semiconductor stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $81.76, for a total value of $408,800.00. Following the completion of the transaction, the chief executive officer now owns 596,312 shares in the company, valued at approximately $48,754,469.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 15,000 shares of company stock valued at $1,190,200 in the last three months. 0.27% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ON Semiconductor

Institutional investors have recently added to or reduced their stakes in the business. Householder Group Estate & Retirement Specialist LLC purchased a new stake in ON Semiconductor during the first quarter worth approximately $26,000. Godsey & Gibb Inc. purchased a new stake in ON Semiconductor during the fourth quarter worth approximately $25,000. SOA Wealth Advisors LLC. lifted its stake in ON Semiconductor by 100.0% in the first quarter. SOA Wealth Advisors LLC. now owns 400 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 200 shares during the last quarter. FinTrust Capital Advisors LLC purchased a new stake in ON Semiconductor in the fourth quarter valued at approximately $25,000. Finally, Ancora Advisors LLC purchased a new stake in ON Semiconductor in the first quarter valued at approximately $33,000. Hedge funds and other institutional investors own 96.84% of the company’s stock.

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.