ON Semiconductor Corporation (ON) Earns Outperform Rating from Mizuho
ON Semiconductor Corporation (NASDAQ:ON)‘s stock had its “outperform” rating reissued by analysts at Mizuho in a research note issued on Wednesday. They presently have a $19.00 price objective on the semiconductor company’s stock, up from their prior price objective of $18.00. Mizuho’s price objective indicates a potential upside of 16.14% from the stock’s previous close.
ON has been the subject of several other reports. Zacks Investment Research upgraded shares of ON Semiconductor Corporation from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a report on Tuesday, May 9th. Credit Suisse Group reiterated a “sell” rating and issued a $14.00 price objective on shares of ON Semiconductor Corporation in a report on Wednesday, May 10th. Vetr upgraded shares of ON Semiconductor Corporation from a “sell” rating to a “strong-buy” rating and set a $16.85 price objective for the company in a report on Tuesday, April 11th. BidaskClub cut shares of ON Semiconductor Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. Finally, Raymond James Financial, Inc. initiated coverage on shares of ON Semiconductor Corporation in a report on Friday, June 16th. They issued an “outperform” rating and a $19.00 price objective for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $16.80.
Shares of ON Semiconductor Corporation (NASDAQ ON) traded down 0.49% during midday trading on Wednesday, hitting $16.36. The stock had a trading volume of 9,036,728 shares. The firm has a 50 day moving average of $14.90 and a 200-day moving average of $14.89. ON Semiconductor Corporation has a one year low of $10.03 and a one year high of $16.93. The company has a market cap of $6.88 billion, a P/E ratio of 31.46 and a beta of 1.97.
In related news, VP Paul E. Rolls sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $16.00, for a total value of $160,000.00. Following the completion of the transaction, the vice president now owns 270,101 shares of the company’s stock, valued at approximately $4,321,616. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gilles Delfassy sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $16.87, for a total transaction of $75,915.00. Following the completion of the transaction, the director now directly owns 33,044 shares of the company’s stock, valued at approximately $557,452.28. The disclosure for this sale can be found here. Insiders sold a total of 124,690 shares of company stock valued at $1,954,040 in the last ninety days. Company insiders own 1.60% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in ON. Bank of Montreal Can increased its stake in ON Semiconductor Corporation by 59.1% in the first quarter. Bank of Montreal Can now owns 952,931 shares of the semiconductor company’s stock worth $14,761,000 after buying an additional 353,974 shares during the last quarter. Alpha Windward LLC bought a new stake in ON Semiconductor Corporation during the first quarter worth about $475,000. Boston Advisors LLC increased its stake in ON Semiconductor Corporation by 35.8% in the first quarter. Boston Advisors LLC now owns 1,261,735 shares of the semiconductor company’s stock worth $19,544,000 after buying an additional 332,470 shares during the last quarter. Quotient Investors LLC bought a new stake in ON Semiconductor Corporation during the first quarter worth about $3,572,000. Finally, James Investment Research Inc. bought a new stake in ON Semiconductor Corporation during the first quarter worth about $174,000. Institutional investors own 97.43% of the company’s stock.
About ON Semiconductor Corporation
ON Semiconductor Corporation offers a portfolio of sensors, power management, connectivity, custom and system on chip (SoC), analog, logic, timing, and discrete devices. The Company’s segments include Power Solutions Group, Analog Solutions Group and Image Sensor Group. The Power Solutions Group offers a range of discrete, module and integrated semiconductor products.
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