Cantor Fitzgerald Begins Coverage on ON Semiconductor (NASDAQ:ON)

Research analysts at Cantor Fitzgerald assumed coverage on shares of ON Semiconductor (NASDAQ:ON - Get Free Report) in a research note issued to investors on Wednesday,Briefing.com Automated Import reports. The firm set a "neutral" rating and a $55.00 price target on the semiconductor company's stock. Cantor Fitzgerald's price objective would indicate a potential upside of 3.89% from the company's previous close.

Several other research analysts have also recently issued reports on the stock. Citigroup dropped their target price on shares of ON Semiconductor from $52.00 to $40.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Robert W. Baird lowered their target price on ON Semiconductor from $42.00 to $34.00 and set a "neutral" rating for the company in a report on Tuesday, May 6th. UBS Group cut their price target on ON Semiconductor from $55.00 to $40.00 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. Rosenblatt Securities restated a "neutral" rating and set a $42.00 price objective on shares of ON Semiconductor in a research note on Tuesday, May 6th. Finally, Stifel Nicolaus dropped their price objective on ON Semiconductor from $52.00 to $42.00 and set a "hold" rating on the stock in a research report on Thursday, April 17th. Thirteen equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, ON Semiconductor presently has a consensus rating of "Moderate Buy" and a consensus target price of $55.12.

ON Semiconductor Stock Down 1.7%

Shares of NASDAQ:ON opened at $52.94 on Wednesday. The firm has a market capitalization of $22.12 billion, a PE ratio of 36.76, a price-to-earnings-growth ratio of 4.39 and a beta of 1.39. The business has a 50 day simple moving average of $42.57 and a two-hundred day simple moving average of $49.53. ON Semiconductor has a 1 year low of $31.04 and a 1 year high of $80.08. The company has a debt-to-equity ratio of 0.42, a current ratio of 4.95 and a quick ratio of 3.32.

ON Semiconductor (NASDAQ:ON - Get Free Report) last released its earnings results on Monday, May 5th. The semiconductor company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.04. The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.40 billion. ON Semiconductor had a return on equity of 17.40% and a net margin of 9.51%. The business's revenue for the quarter was down 22.4% compared to the same quarter last year. During the same period last year, the company earned $1.08 earnings per share. On average, equities analysts predict that ON Semiconductor will post 2.6 EPS for the current year.

Institutional Trading of ON Semiconductor

Several institutional investors have recently made changes to their positions in ON. Elequin Capital LP raised its holdings in ON Semiconductor by 108.3% in the fourth quarter. Elequin Capital LP now owns 527 shares of the semiconductor company's stock valued at $33,000 after acquiring an additional 274 shares in the last quarter. Costello Asset Management INC acquired a new stake in shares of ON Semiconductor in the first quarter valued at approximately $26,000. Pilgrim Partners Asia Pte Ltd purchased a new position in ON Semiconductor during the 4th quarter worth $43,000. Golden State Wealth Management LLC raised its holdings in shares of ON Semiconductor by 83.3% in the first quarter. Golden State Wealth Management LLC now owns 704 shares of the semiconductor company's stock valued at $29,000 after buying an additional 320 shares during the last quarter. Finally, Plato Investment Management Ltd purchased a new stake in ON Semiconductor during the 4th quarter valued at approximately $51,000. Hedge funds and other institutional investors own 97.70% of the company's stock.

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.

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