ON Semiconductor (NASDAQ:ON) Given “Outperform” Rating at Cowen

Cowen restated their outperform rating on shares of ON Semiconductor (NASDAQ:ON) in a research note issued to investors on Tuesday morning, Briefing.com Automated Import reports. Cowen currently has a $25.00 price objective on the semiconductor company’s stock, down from their previous price objective of $29.00.

Several other brokerages also recently commented on ON. Mizuho restated a buy rating and issued a $26.00 price objective on shares of ON Semiconductor in a research report on Monday. Jefferies Financial Group raised ON Semiconductor from a hold rating to a buy rating and upped their target price for the company from $26.00 to $29.00 in a research note on Tuesday, April 30th. Loop Capital assumed coverage on ON Semiconductor in a research note on Tuesday, June 18th. They set a buy rating on the stock. ValuEngine cut ON Semiconductor from a hold rating to a sell rating in a research note on Friday, August 2nd. Finally, BidaskClub raised ON Semiconductor from a strong sell rating to a sell rating in a research note on Wednesday, July 24th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $24.83.

NASDAQ:ON opened at $17.66 on Tuesday. The firm’s 50-day moving average is $20.27. ON Semiconductor has a 52-week low of $14.55 and a 52-week high of $23.54. The company has a quick ratio of 1.38, a current ratio of 2.31 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $8.24 billion, a price-to-earnings ratio of 9.01, a PEG ratio of 1.73 and a beta of 2.16.

ON Semiconductor (NASDAQ:ON) last released its quarterly earnings results on Sunday, August 4th. The semiconductor company reported $0.42 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.42. ON Semiconductor had a return on equity of 26.54% and a net margin of 10.22%. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the previous year, the company posted $0.46 earnings per share. ON Semiconductor’s revenue for the quarter was down 7.4% on a year-over-year basis. On average, equities analysts anticipate that ON Semiconductor will post 1.74 earnings per share for the current year.

In other ON Semiconductor news, Director Gilles Delfassy sold 3,731 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $18.96, for a total transaction of $70,739.76. Following the completion of the sale, the director now owns 49,208 shares in the company, valued at $932,983.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Vince Craig Hopkin sold 3,000 shares of the company’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $19.81, for a total value of $59,430.00. Following the sale, the executive vice president now owns 91,049 shares of the company’s stock, valued at approximately $1,803,680.69. The disclosure for this sale can be found here. In the last three months, insiders sold 48,198 shares of company stock worth $1,042,444. 1.40% of the stock is owned by insiders.

A number of institutional investors have recently bought and sold shares of ON. Janus Henderson Group PLC lifted its holdings in shares of ON Semiconductor by 19.4% during the 2nd quarter. Janus Henderson Group PLC now owns 36,912,800 shares of the semiconductor company’s stock valued at $746,008,000 after purchasing an additional 6,008,620 shares during the last quarter. LSV Asset Management raised its stake in ON Semiconductor by 9.9% in the 1st quarter. LSV Asset Management now owns 9,491,021 shares of the semiconductor company’s stock worth $195,230,000 after acquiring an additional 854,500 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in ON Semiconductor by 12.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,780,073 shares of the semiconductor company’s stock worth $128,449,000 after acquiring an additional 881,265 shares during the last quarter. Villere ST Denis J & Co. LLC purchased a new position in ON Semiconductor in the 2nd quarter worth $68,973,000. Finally, Bank of Montreal Can raised its stake in ON Semiconductor by 3.4% in the 1st quarter. Bank of Montreal Can now owns 2,014,278 shares of the semiconductor company’s stock worth $41,433,000 after acquiring an additional 65,611 shares during the last quarter. Institutional investors own 96.19% of the company’s stock.

ON Semiconductor Company Profile

ON Semiconductor Corporation manufactures and sells semiconductor components for various electronic devices worldwide. The company operates in three segments: Power Solutions Group, Analog Solutions Group, and Intelligent Sensing Group. The Power Solutions Group segment offers discrete, module, and integrated semiconductor products for various applications, such as power switching and conversion, signal conditioning, circuit protection, signal amplification, and voltage reference.

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Analyst Recommendations for ON Semiconductor (NASDAQ:ON)

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