ON Semiconductor (NASDAQ:ON) Price Target Raised to $57.00 at Truist Financial

ON Semiconductor (NASDAQ:ON) had its target price hoisted by stock analysts at Truist Financial from $51.00 to $57.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “hold” rating on the semiconductor company’s stock. Truist Financial’s target price indicates a potential upside of 4.90% from the company’s previous close.

A number of other equities analysts have also recently commented on ON. Robert W. Baird raised their target price on ON Semiconductor from $48.00 to $56.00 and gave the company a “neutral” rating in a report on Tuesday, November 4th. TD Cowen raised their price objective on shares of ON Semiconductor from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Cowen reaffirmed a “buy” rating on shares of ON Semiconductor in a research note on Tuesday, November 4th. Bank of America cut their target price on shares of ON Semiconductor from $56.00 to $52.00 and set a “neutral” rating on the stock in a research note on Friday, September 5th. Finally, Cfra reissued a “buy” rating and issued a $64.00 price target on shares of ON Semiconductor in a research report on Tuesday, November 4th. Fourteen equities research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $59.35.

ON Semiconductor Stock Performance

Shares of ON stock opened at $54.34 on Friday. ON Semiconductor has a one year low of $31.04 and a one year high of $67.95. The company has a debt-to-equity ratio of 0.43, a quick ratio of 3.54 and a current ratio of 5.23. The firm’s 50 day moving average price is $50.95 and its 200-day moving average price is $51.77. The firm has a market cap of $21.87 billion, a P/E ratio of 70.57, a P/E/G ratio of 2.85 and a beta of 1.57.

ON Semiconductor (NASDAQ:ON) last announced its earnings results on Monday, November 3rd. The semiconductor company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. ON Semiconductor had a return on equity of 13.60% and a net margin of 5.16%.The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same quarter in the previous year, the company earned $0.99 earnings per share. The firm’s quarterly revenue was down 12.0% compared to the same quarter last year. ON Semiconductor has set its Q4 2025 guidance at 0.570-0.670 EPS. As a group, equities research analysts predict that ON Semiconductor will post 2.6 EPS for the current year.

ON Semiconductor announced that its Board of Directors has approved a share buyback plan on Tuesday, November 18th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to repurchase up to 32.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Insider Activity

In other news, CFO Trent Thad sold 20,000 shares of ON Semiconductor stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $55.05, for a total transaction of $1,101,000.00. Following the completion of the sale, the chief financial officer directly owned 379,448 shares of the company’s stock, valued at approximately $20,888,612.40. The trade was a 5.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.31% of the company’s stock.

Institutional Trading of ON Semiconductor

A number of institutional investors have recently bought and sold shares of ON. Norges Bank purchased a new stake in ON Semiconductor during the second quarter worth approximately $228,835,000. Two Sigma Investments LP increased its stake in ON Semiconductor by 636.1% in the third quarter. Two Sigma Investments LP now owns 3,749,751 shares of the semiconductor company’s stock valued at $184,900,000 after purchasing an additional 3,240,375 shares during the last quarter. Rafferty Asset Management LLC raised its holdings in ON Semiconductor by 55.0% during the second quarter. Rafferty Asset Management LLC now owns 5,837,502 shares of the semiconductor company’s stock worth $305,943,000 after purchasing an additional 2,072,125 shares in the last quarter. M&G PLC lifted its position in shares of ON Semiconductor by 164.2% during the 2nd quarter. M&G PLC now owns 2,459,104 shares of the semiconductor company’s stock worth $127,873,000 after buying an additional 1,528,311 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its position in shares of ON Semiconductor by 312.8% during the 2nd quarter. Alliancebernstein L.P. now owns 2,011,077 shares of the semiconductor company’s stock worth $105,401,000 after buying an additional 1,523,866 shares during the last quarter. 97.70% of the stock is owned by hedge funds and other 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.