ON Semiconductor (NASDAQ:ON – Get Free Report) had its price objective cut by analysts at Truist Financial from $122.00 to $81.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Truist Financial’s target price would suggest a potential upside of 24.92% from the company’s current price.
Several other analysts have also weighed in on ON. Craig Hallum lowered shares of ON Semiconductor from a “buy” rating to a “hold” rating and lowered their target price for the company from $132.00 to $78.00 in a research note on Monday. Rosenblatt Securities lowered their price target on shares of ON Semiconductor from $100.00 to $75.00 and set a “neutral” rating for the company in a research report on Tuesday. Needham & Company LLC lowered their price target on shares of ON Semiconductor from $120.00 to $92.00 and set a “buy” rating for the company in a research report on Tuesday. Wells Fargo & Company upped their price target on shares of ON Semiconductor from $95.00 to $120.00 and gave the stock an “overweight” rating in a research report on Monday, July 24th. Finally, KeyCorp lowered their price target on shares of ON Semiconductor from $125.00 to $95.00 and set an “overweight” rating for the company in a research report on Tuesday. Fourteen equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $97.88.
Check Out Our Latest Analysis on ON
ON Semiconductor Stock Up 3.5 %
ON Semiconductor (NASDAQ:ON – Get Free Report) last released its earnings results on Monday, October 30th. The semiconductor company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.05. ON Semiconductor had a net margin of 26.69% and a return on equity of 33.78%. The firm had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.15 billion. During the same quarter in the previous year, the firm earned $1.45 earnings per share. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. Research analysts predict that ON Semiconductor will post 5.24 EPS for the current year.
Insider Activity
In other news, Director Christine Y. Yan sold 3,624 shares of the company’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $92.16, for a total value of $333,987.84. Following the transaction, the director now owns 38,532 shares in the company, valued at approximately $3,551,109.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Christine Y. Yan sold 3,624 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $92.16, for a total transaction of $333,987.84. Following the transaction, the director now owns 38,532 shares of the company’s stock, valued at $3,551,109.12. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Bernard Raymond Colpitts, Jr. sold 2,795 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $99.18, for a total transaction of $277,208.10. Following the transaction, the chief accounting officer now directly owns 32,050 shares in the company, valued at approximately $3,178,719. The disclosure for this sale can be found here. 0.27% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On ON Semiconductor
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. HighTower Advisors LLC raised its position in shares of ON Semiconductor by 3.2% in the first quarter. HighTower Advisors LLC now owns 27,412 shares of the semiconductor company’s stock valued at $1,716,000 after purchasing an additional 845 shares during the period. MetLife Investment Management LLC bought a new position in shares of ON Semiconductor in the first quarter valued at approximately $1,171,000. Yousif Capital Management LLC raised its position in shares of ON Semiconductor by 4.2% in the first quarter. Yousif Capital Management LLC now owns 9,877 shares of the semiconductor company’s stock valued at $618,000 after purchasing an additional 395 shares during the period. Raymond James Trust N.A. raised its position in shares of ON Semiconductor by 15.4% in the first quarter. Raymond James Trust N.A. now owns 5,938 shares of the semiconductor company’s stock valued at $372,000 after purchasing an additional 793 shares during the period. Finally, Blair William & Co. IL increased its position in ON Semiconductor by 22.0% during the first quarter. Blair William & Co. IL now owns 4,258 shares of the semiconductor company’s stock worth $267,000 after acquiring an additional 768 shares during the period. Institutional investors own 96.36% of the company’s stock.
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.
See Also
- Five stocks we like better than ON Semiconductor
- What Are Trending Stocks? Trending Stocks Explained
- First Solar, an affordable, high-quality green investment
- How the NYSE and NASDAQ are Different, Why That Matters to Investors
- 5 Dow stocks to track during the market correction
- Basic Materials Stocks Investing
- Lean on these stocks during GDP expansion
Receive News & Ratings for ON Semiconductor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ON Semiconductor and related companies with MarketBeat.com's FREE daily email newsletter.
