ON Semiconductor (NASDAQ:ON) Earns Neutral Rating from Analysts at The Goldman Sachs Group

The Goldman Sachs Group assumed coverage on shares of ON Semiconductor (NASDAQ:ON - Get Free Report) in a research report issued to clients and investors on Thursday, Marketbeat.com reports. The brokerage set a "neutral" rating and a $60.00 price target on the semiconductor company's stock. The Goldman Sachs Group's target price indicates a potential upside of 0.57% from the stock's current price.

Several other research firms also recently commented on ON. Morgan Stanley initiated coverage on shares of ON Semiconductor in a report on Monday, May 12th. They set an "equal weight" rating and a $39.00 price objective for the company. Rosenblatt Securities restated a "neutral" rating and issued a $42.00 price target on shares of ON Semiconductor in a research report on Tuesday, May 6th. Cantor Fitzgerald initiated coverage on shares of ON Semiconductor in a research report on Wednesday, June 18th. They issued a "neutral" rating and a $55.00 price target on the stock. Stifel Nicolaus reduced their price target on shares of ON Semiconductor from $52.00 to $42.00 and set a "hold" rating on the stock in a research report on Thursday, April 17th. Finally, KGI Securities assumed coverage on ON Semiconductor in a research note on Friday, May 23rd. They issued a "neutral" rating for the company. Fourteen equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $57.65.

ON Semiconductor Stock Performance

ON Semiconductor stock traded up $0.14 during midday trading on Thursday, reaching $59.66. 3,200,569 shares of the company traded hands, compared to its average volume of 8,331,647. The firm has a market capitalization of $24.93 billion, a price-to-earnings ratio of 41.48, a price-to-earnings-growth ratio of 4.76 and a beta of 1.43. The business has a 50 day moving average of $48.60 and a two-hundred day moving average of $48.21. ON Semiconductor has a 12 month low of $31.04 and a 12 month 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 quarterly earnings results on Monday, May 5th. The semiconductor company reported $0.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 quarterly revenue was down 22.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.08 EPS. As a group, research analysts predict that ON Semiconductor will post 2.6 earnings per share for the current year.

Institutional Trading of ON Semiconductor

A number of institutional investors have recently bought and sold shares of the stock. Costello Asset Management INC acquired a new position in shares of ON Semiconductor in the first quarter valued at about $26,000. Golden State Wealth Management LLC increased 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 purchasing an additional 320 shares during the period. Elequin Capital LP lifted its position in ON Semiconductor by 108.3% during the fourth quarter. Elequin Capital LP now owns 527 shares of the semiconductor company's stock valued at $33,000 after purchasing an additional 274 shares during the period. Opal Wealth Advisors LLC acquired a new position in ON Semiconductor during the first quarter valued at $41,000. Finally, Pilgrim Partners Asia Pte Ltd acquired a new position in ON Semiconductor during the fourth quarter valued at $43,000. 97.70% of the stock is currently owned by institutional investors and hedge funds.

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.