UBS Group Has Lowered Expectations for ON Semiconductor (NASDAQ:ON) Stock Price

Key Points

• UBS Group has cut its price target for ON Semiconductor from $55.00 to $50.00, maintaining a "neutral" rating on the stock, which suggests a potential upside of 2.93% from the current price.
• ON Semiconductor reported earnings of $0.53 per share in its latest quarter, missing analyst expectations, while revenue decreased by 15.4% year-over-year.
• Fifteen research analysts currently rate ON Semiconductor with a "hold" while the average target price stands at $57.32, indicating mixed sentiments among analysts.

ON Semiconductor (NASDAQ:ON - Get Free Report) had its price target decreased by UBS Group from $55.00 to $50.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a "neutral" rating on the semiconductor company's stock. UBS Group's price objective points to a potential upside of 5.06% from the company's current price.

A number of other equities analysts also recently issued reports on ON. Stifel Nicolaus increased their price target on ON Semiconductor from $42.00 to $50.00 and gave the stock a "hold" rating in a research report on Friday, July 18th. B. Riley reaffirmed a "neutral" rating and set a $56.00 target price (up from $40.00) on shares of ON Semiconductor in a research note on Wednesday, June 18th. Robert W. Baird dropped their price target on shares of ON Semiconductor from $42.00 to $34.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 6th. KeyCorp boosted their price target on shares of ON Semiconductor from $50.00 to $65.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Finally, Roth Capital reaffirmed a "buy" rating and set a $70.00 price objective (up from $50.00) on shares of ON Semiconductor in a report on Tuesday, June 17th. Fifteen analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $56.84.

ON Semiconductor Stock Performance

Shares of NASDAQ:ON traded up $0.61 during trading on Tuesday, hitting $47.59. 9,866,399 shares of the stock traded hands, compared to its average volume of 10,746,045. The company has a fifty day moving average price of $54.22 and a two-hundred day moving average price of $47.65. ON Semiconductor has a 52-week low of $31.04 and a 52-week high of $78.61. The company has a market cap of $19.46 billion, a price-to-earnings ratio of 44.48, a P/E/G ratio of 2.37 and a beta of 1.45. The company has a quick ratio of 3.32, a current ratio of 5.02 and a debt-to-equity ratio of 0.42.

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

Institutional Trading of ON Semiconductor

A number of hedge funds and other institutional investors have recently made changes to their positions in ON. Janus Henderson Group PLC boosted its stake in ON Semiconductor by 9.2% during the fourth quarter. Janus Henderson Group PLC now owns 12,377,264 shares of the semiconductor company's stock worth $780,387,000 after buying an additional 1,041,989 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of ON Semiconductor by 1.0% in the 1st quarter. Ameriprise Financial Inc. now owns 11,328,463 shares of the semiconductor company's stock worth $460,958,000 after acquiring an additional 110,735 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of ON Semiconductor by 15.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 5,835,332 shares of the semiconductor company's stock worth $312,774,000 after acquiring an additional 774,087 shares during the last quarter. Baillie Gifford & Co. purchased a new position in shares of ON Semiconductor during the 1st quarter worth approximately $219,001,000. Finally, Dimensional Fund Advisors LP increased its holdings in ON Semiconductor by 18.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,014,671 shares of the semiconductor company's stock valued at $316,195,000 after purchasing an additional 771,610 shares during the last quarter. Institutional investors and hedge funds 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.