ON Semiconductor (ON) Rating Lowered to Hold at Zacks Investment Research
ON Semiconductor (NASDAQ:ON) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Monday.
According to Zacks, “ON Semi reported stellar fourth quarter results. Both earnings and revenues increased on a year-over-year basis. Management is particularly positive about the strong operating model followed by the company. The addition of Fairchild’s offerings has expanded the company’s product portfolio. The company is benefiting from strong adoption of its products in the automotive, industrial and communications end-markets. Also, synergies from acquisitions have given the company exposure to new end markets along with higher margin capabilities. Despite stellar results, investors remain disappointed by the company’s guidance. Revenues from Consumer and Communications end markets are expected to go down sequentially due to seasonality. The company faces significant competition in all of the served markets. Additionally, leveraged balance sheet remains a concern.”
ON has been the topic of several other reports. BidaskClub lowered shares of ON Semiconductor from a “buy” rating to a “hold” rating in a report on Friday, February 9th. MKM Partners boosted their price objective on shares of ON Semiconductor to $28.00 and gave the company a “buy” rating in a report on Tuesday, February 6th. Jefferies Group restated a “hold” rating and issued a $26.00 price objective on shares of ON Semiconductor in a report on Tuesday, February 6th. Credit Suisse Group boosted their price objective on shares of ON Semiconductor from $17.00 to $20.00 and gave the company an “underperform” rating in a report on Tuesday, February 6th. Finally, Robert W. Baird boosted their price objective on shares of ON Semiconductor from $25.00 to $26.00 and gave the company an “outperform” rating in a report on Tuesday, February 6th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $23.99.
ON Semiconductor (NASDAQ:ON) last posted its quarterly earnings results on Friday, February 2nd. The semiconductor company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.37 by $0.02. ON Semiconductor had a return on equity of 21.88% and a net margin of 14.63%. The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same quarter in the previous year, the firm earned $0.29 EPS. The company’s quarterly revenue was up 9.2% compared to the same quarter last year. equities research analysts expect that ON Semiconductor will post 1.73 earnings per share for the current fiscal year.
In other ON Semiconductor news, EVP George H. Cave sold 20,000 shares of ON Semiconductor stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $24.38, for a total value of $487,600.00. Following the completion of the transaction, the executive vice president now directly owns 260,357 shares of the company’s stock, valued at approximately $6,347,503.66. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Daryl Ostrander sold 1,398 shares of ON Semiconductor stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $19.10, for a total value of $26,701.80. Following the completion of the transaction, the director now directly owns 64,060 shares of the company’s stock, valued at $1,223,546. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 102,593 shares of company stock valued at $2,361,997. 1.40% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ON. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of ON Semiconductor during the fourth quarter worth about $101,000. Fuller & Thaler Asset Management Inc. acquired a new position in shares of ON Semiconductor during the fourth quarter worth about $174,000. BB&T Securities LLC acquired a new position in shares of ON Semiconductor during the third quarter worth about $187,000. Cambridge Investment Research Advisors Inc. acquired a new position in shares of ON Semiconductor during the third quarter worth about $200,000. Finally, Premia Global Advisors LLC acquired a new position in shares of ON Semiconductor during the fourth quarter worth about $200,000. 96.27% of the stock is owned by institutional investors.
ON Semiconductor Company Profile
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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