ON Semiconductor (NASDAQ:ON – Get Free Report) had its target price upped by equities research analysts at B. Riley from $110.00 to $135.00 in a research note issued on Tuesday, MarketBeat.com reports. The firm presently has a “buy” rating on the semiconductor company’s stock. B. Riley’s target price suggests a potential upside of 30.35% from the company’s previous close. B. Riley also issued estimates for ON Semiconductor’s Q3 2023 earnings at $1.34 EPS, Q4 2023 earnings at $1.39 EPS, FY2023 earnings at $5.25 EPS, Q1 2024 earnings at $1.41 EPS, Q2 2024 earnings at $1.47 EPS, Q3 2024 earnings at $1.58 EPS and Q4 2024 earnings at $1.62 EPS.
Several other equities analysts have also recently weighed in on the company. Deutsche Bank Aktiengesellschaft lifted their price objective on ON Semiconductor from $95.00 to $100.00 in a report on Thursday, June 8th. Piper Sandler lifted their price objective on ON Semiconductor from $130.00 to $135.00 in a report on Monday. Bank of America lifted their price objective on ON Semiconductor from $120.00 to $130.00 and gave the company a “buy” rating in a report on Tuesday. StockNews.com assumed coverage on ON Semiconductor in a research note on Thursday, May 18th. They issued a “hold” rating on the stock. Finally, Stifel Nicolaus boosted their target price on ON Semiconductor from $83.00 to $98.00 and gave the company a “hold” rating in a research note on Thursday, July 20th. Ten analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $109.31.
Get Our Latest Stock Report on ON
ON Semiconductor Trading Down 4.2 %
ON Semiconductor (NASDAQ:ON – Get Free Report) last released its quarterly earnings results on Monday, July 31st. The semiconductor company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.12. ON Semiconductor had a return on equity of 38.04% and a net margin of 23.41%. The company had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same quarter last year, the firm posted $1.34 earnings per share. ON Semiconductor’s revenue was up .5% compared to the same quarter last year. Equities research analysts anticipate that ON Semiconductor will post 5.07 EPS for the current year.
Insider Buying and Selling
In other ON Semiconductor news, EVP Simon Keeton sold 9,923 shares of the company’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $109.74, for a total value of $1,088,950.02. Following the transaction, the executive vice president now directly owns 175,616 shares of the company’s stock, valued at approximately $19,272,099.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other ON Semiconductor news, EVP Simon Keeton sold 9,923 shares of the company’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $109.74, for a total value of $1,088,950.02. Following the transaction, the executive vice president now directly owns 175,616 shares of the company’s stock, valued at approximately $19,272,099.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Hassane El-Khoury sold 22,500 shares of the company’s stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $90.01, for a total value of $2,025,225.00. Following the completion of the transaction, the chief executive officer now directly owns 573,812 shares in the company, valued at $51,648,818.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 102,959 shares of company stock valued at $9,910,489. 0.40% of the stock is owned by insiders.
Institutional Trading of ON Semiconductor
A number of institutional investors have recently modified their holdings of ON. Baldwin Investment Management LLC lifted its position in shares of ON Semiconductor by 2.4% during the 2nd quarter. Baldwin Investment Management LLC now owns 4,300 shares of the semiconductor company’s stock worth $407,000 after buying an additional 100 shares during the last quarter. Integrated Advisors Network LLC lifted its position in shares of ON Semiconductor by 1.2% during the 2nd quarter. Integrated Advisors Network LLC now owns 9,800 shares of the semiconductor company’s stock worth $927,000 after buying an additional 115 shares during the last quarter. Salem Investment Counselors Inc. lifted its position in shares of ON Semiconductor by 26.4% during the 2nd quarter. Salem Investment Counselors Inc. now owns 670 shares of the semiconductor company’s stock worth $63,000 after buying an additional 140 shares during the last quarter. MONECO Advisors LLC lifted its position in shares of ON Semiconductor by 1.0% during the 1st quarter. MONECO Advisors LLC now owns 14,817 shares of the semiconductor company’s stock worth $1,220,000 after buying an additional 143 shares during the last quarter. Finally, Kentucky Retirement Systems lifted its position in shares of ON Semiconductor by 0.4% during the 4th quarter. Kentucky Retirement Systems now owns 34,062 shares of the semiconductor company’s stock worth $2,124,000 after buying an additional 149 shares during the last quarter. 99.16% of the stock is currently owned by 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.
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