ON Semiconductor's (ON) "Buy" Rating Reiterated at Benchmark

Key Points

• Analysts at Benchmark have increased the price target for ON Semiconductor from $50.00 to $60.00, implying a potential upside of 25.08% from its previous close.
• Despite the positive rating from Benchmark, several other firms have lowered their price targets for ON Semiconductor, reflecting a mix of opinions on the stock's performance.
• ON Semiconductor reported a 15.4% decrease in revenue year-over-year, with earnings per share of $0.53, missing estimates by $0.01.

Benchmark reaffirmed their buy rating on shares of ON Semiconductor (NASDAQ:ON - Free Report) in a research note issued to investors on Tuesday morning, Marketbeat reports. They currently have a $60.00 target price on the semiconductor company's stock, up from their prior target price of $50.00.

ON has been the topic of several other research reports. JPMorgan Chase & Co. dropped their price objective on ON Semiconductor from $60.00 to $48.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 6th. Robert W. Baird dropped their target price on ON Semiconductor from $42.00 to $34.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 6th. Mizuho increased their target price on ON Semiconductor from $60.00 to $72.00 and gave the company an "outperform" rating in a research report on Thursday, June 26th. Stifel Nicolaus increased their target price on ON Semiconductor from $42.00 to $50.00 and gave the company a "hold" rating in a research report on Friday, July 18th. Finally, KGI Securities assumed coverage on ON Semiconductor in a research report on Friday, May 23rd. They issued a "neutral" rating for the company. Fifteen investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $56.84.

ON Semiconductor Price Performance

Shares of ON stock traded up $0.61 during trading hours on Tuesday, hitting $47.59. The stock had a trading volume of 9,866,399 shares, compared to its average volume of 10,746,045. ON Semiconductor has a one year low of $31.04 and a one year high of $78.61. The company has a debt-to-equity ratio of 0.42, a current ratio of 5.02 and a quick ratio of 3.32. The stock's 50-day moving average price is $54.22 and its two-hundred day moving average price is $47.65. The stock has a market capitalization of $19.46 billion, a price-to-earnings ratio of 44.48, a PEG ratio of 2.37 and a beta of 1.45.

ON Semiconductor (NASDAQ:ON - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The semiconductor company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.01). The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.45 billion. ON Semiconductor had a return on equity of 15.33% and a net margin of 7.28%. The company's revenue was down 15.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.96 earnings per share. Equities analysts forecast that ON Semiconductor will post 2.6 EPS for the current year.

Hedge Funds Weigh In On ON Semiconductor

A number of institutional investors have recently modified their holdings of ON. STF Management LP increased its stake in shares of ON Semiconductor by 6.1% in the 2nd quarter. STF Management LP now owns 4,061 shares of the semiconductor company's stock valued at $213,000 after purchasing an additional 234 shares in the last quarter. Robeco Schweiz AG increased its stake in shares of ON Semiconductor by 10.6% in the 2nd quarter. Robeco Schweiz AG now owns 1,436,644 shares of the semiconductor company's stock valued at $75,295,000 after purchasing an additional 137,602 shares in the last quarter. Hodges Capital Management Inc. purchased a new position in shares of ON Semiconductor in the 2nd quarter valued at about $209,000. Ibex Wealth Advisors purchased a new position in shares of ON Semiconductor in the 2nd quarter valued at about $263,000. Finally, Vise Technologies Inc. purchased a new position in shares of ON Semiconductor in the 2nd quarter valued at about $574,000. 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.