ON Semiconductor (NASDAQ:ON) Price Target Raised to $81.00 at Cowen

ON Semiconductor (NASDAQ:ONGet Rating) had its price target lifted by Cowen from $65.00 to $81.00 in a research report report published on Tuesday morning, Stock Target Advisor reports. The brokerage currently has an outperform rating on the semiconductor company’s stock.

Several other research analysts have also recently commented on the company. Truist Financial cut their price target on ON Semiconductor from $73.00 to $65.00 and set a buy rating on the stock in a research note on Friday, April 8th. The Goldman Sachs Group cut their price target on ON Semiconductor from $74.00 to $60.00 in a research note on Friday, July 15th. Bank of America cut their price target on ON Semiconductor from $80.00 to $65.00 and set a buy rating on the stock in a research note on Wednesday, June 29th. Morgan Stanley boosted their price target on ON Semiconductor from $56.00 to $65.00 and gave the stock an equal weight rating in a research note on Tuesday. Finally, Citigroup upped their price objective on ON Semiconductor from $73.00 to $75.00 and gave the company a buy rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ON Semiconductor currently has an average rating of Moderate Buy and a consensus price target of $72.23.

ON Semiconductor Price Performance

Shares of NASDAQ ON opened at $67.63 on Tuesday. ON Semiconductor has a 1-year low of $40.85 and a 1-year high of $71.25. The business has a 50-day moving average of $57.43 and a 200-day moving average of $57.60. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.79 and a quick ratio of 1.83. The company has a market capitalization of $29.30 billion, a price-to-earnings ratio of 17.52, a PEG ratio of 0.52 and a beta of 1.82.

ON Semiconductor (NASDAQ:ONGet Rating) last issued its earnings results on Monday, August 1st. The semiconductor company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.08. ON Semiconductor had a return on equity of 41.43% and a net margin of 22.60%. The company had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter in the prior year, the business earned $0.63 earnings per share. The company’s revenue was up 24.9% compared to the same quarter last year. On average, equities analysts anticipate that ON Semiconductor will post 5.13 EPS for the current fiscal year.

Insider Activity

In other news, CEO Hassane El-Khoury sold 20,000 shares of the stock in a transaction on Monday, July 18th. The stock was sold at an average price of $56.17, for a total value of $1,123,400.00. Following the completion of the sale, the chief executive officer now owns 261,162 shares in the company, valued at $14,669,469.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Vince Craig Hopkin sold 6,296 shares of the stock in a transaction on Tuesday, May 10th. The stock was sold at an average price of $52.10, for a total value of $328,021.60. Following the completion of the sale, the executive vice president now owns 169,073 shares in the company, valued at $8,808,703.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Hassane El-Khoury sold 20,000 shares of the stock in a transaction on Monday, July 18th. The stock was sold at an average price of $56.17, for a total value of $1,123,400.00. Following the sale, the chief executive officer now owns 261,162 shares of the company’s stock, valued at $14,669,469.54. The disclosure for this sale can be found here. Corporate insiders own 0.40% of the company’s stock.

Institutional Trading of ON Semiconductor

Several hedge funds and other institutional investors have recently modified their holdings of the company. Brighton Jones LLC increased its position in ON Semiconductor by 1.5% during the second quarter. Brighton Jones LLC now owns 11,100 shares of the semiconductor company’s stock worth $558,000 after buying an additional 166 shares during the last quarter. NorthCrest Asset Manangement LLC increased its position in ON Semiconductor by 2.0% during the first quarter. NorthCrest Asset Manangement LLC now owns 10,300 shares of the semiconductor company’s stock worth $645,000 after buying an additional 200 shares during the last quarter. Geneos Wealth Management Inc. increased its position in ON Semiconductor by 28.4% during the second quarter. Geneos Wealth Management Inc. now owns 905 shares of the semiconductor company’s stock worth $42,000 after buying an additional 200 shares during the last quarter. Glassman Wealth Services increased its position in ON Semiconductor by 29.5% during the second quarter. Glassman Wealth Services now owns 949 shares of the semiconductor company’s stock worth $48,000 after buying an additional 216 shares during the last quarter. Finally, AlphaMark Advisors LLC increased its position in ON Semiconductor by 1.6% during the first quarter. AlphaMark Advisors LLC now owns 14,008 shares of the semiconductor company’s stock worth $877,000 after buying an additional 217 shares during the last quarter. 92.86% of the stock is currently owned by hedge funds and other institutional investors.

ON Semiconductor Company Profile

(Get Rating)

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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