BMO Capital Markets Increases ON Semiconductor (NASDAQ:ON) Price Target to $110.00

Posted by Defense World Staff on Aug 3rd, 2023

ON Semiconductor (NASDAQ:ON – Get Free Report) had its target price lifted by equities research analysts at BMO Capital Markets from $105.00 to $110.00 in a research note issued on Tuesday, Marketbeat.com reports. The firm currently has a “market perform” rating on the semiconductor company’s stock. BMO Capital Markets’ price target would indicate a potential upside of 6.21% from the stock’s previous close.

A number of other analysts also recently issued reports on the stock. KeyCorp lifted their price target on shares of ON Semiconductor from $110.00 to $125.00 and gave the company an “overweight” rating in a report on Tuesday. Benchmark increased their price target on ON Semiconductor from $95.00 to $110.00 in a research note on Tuesday, June 20th. Robert W. Baird lifted their price objective on ON Semiconductor from $100.00 to $120.00 and gave the stock an “outperform” rating in a research note on Tuesday. Rosenblatt Securities increased their target price on ON Semiconductor from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, Wolfe Research initiated coverage on shares of ON Semiconductor in a research report on Wednesday, July 19th. They issued a “peer perform” rating on the stock. Ten research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $109.31.

Check Out Our Latest Analysis on ON Semiconductor

ON Semiconductor Price Performance

NASDAQ ON opened at $103.57 on Tuesday. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.40. ON Semiconductor has a 12 month low of $54.93 and a 12 month high of $111.35. The stock has a market cap of $44.73 billion, a price-to-earnings ratio of 23.70, a PEG ratio of 3.47 and a beta of 1.75. The company’s 50 day moving average is $93.92 and its two-hundred day moving average is $83.67.

ON Semiconductor (NASDAQ:ON – Get Free Report) last released its earnings results on Monday, July 31st. The semiconductor company reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.12. ON Semiconductor had a net margin of 23.41% and a return on equity of 38.04%. The company had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.02 billion. During the same quarter in the previous year, the company earned $1.34 EPS. ON Semiconductor’s revenue for the quarter was up .5% on a year-over-year basis. As a group, research analysts anticipate that ON Semiconductor will post 5.07 earnings per share for the current year.

Insider Transactions at ON Semiconductor

In other news, CEO Hassane El-Khoury sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The shares were 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 of the company’s stock, valued at $48,754,469.12. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, EVP Simon Keeton sold 11,310 shares of ON Semiconductor stock in a transaction that occurred on Friday, June 30th. The stock was sold at an average price of $95.00, for a total value of $1,074,450.00. Following the completion of the transaction, the executive vice president now owns 196,034 shares in the company, valued at approximately $18,623,230. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Hassane El-Khoury sold 5,000 shares of ON Semiconductor stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $81.76, for a total transaction of $408,800.00. Following the completion of the sale, the chief executive officer now owns 596,312 shares in the company, valued at $48,754,469.12. The disclosure for this sale can be found here. Insiders have sold a total of 102,959 shares of company stock worth $9,910,489 over the last ninety days. 0.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Newbridge Financial Services Group Inc. increased its position in shares of ON Semiconductor by 175.0% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 275 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 175 shares during the period. Householder Group Estate & Retirement Specialist LLC bought a new stake in ON Semiconductor in the first quarter worth about $26,000. SOA Wealth Advisors LLC. lifted its holdings in ON Semiconductor by 100.0% in the 1st quarter. SOA Wealth Advisors LLC. now owns 400 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 200 shares during the last quarter. FinTrust Capital Advisors LLC acquired a new stake in shares of ON Semiconductor during the 4th quarter valued at $25,000. Finally, Ancora Advisors LLC acquired a new position in shares of ON Semiconductor in the 1st quarter valued at $33,000. Institutional investors and hedge funds own 99.16% of the company’s stock.

About ON Semiconductor

(Get Free Report)

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.