ON Semiconductor Corporation (NASDAQ:ON - Get Free Report)'s share price fell 1.3% during mid-day trading on Wednesday . The company traded as low as $56.80 and last traded at $56.85. 1,792,251 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 8,310,605 shares. The stock had previously closed at $57.62.
Analysts Set New Price Targets
ON has been the subject of several research analyst reports. JPMorgan Chase & Co. dropped their target price on shares of ON Semiconductor from $60.00 to $48.00 and set a "neutral" rating for the company in a research report on Tuesday, May 6th. Loop Capital dropped their target price on shares of ON Semiconductor from $65.00 to $55.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. The Goldman Sachs Group initiated coverage on shares of ON Semiconductor in a research report on Thursday. They issued a "neutral" rating and a $60.00 target price for the company. Benchmark dropped their target price on shares of ON Semiconductor from $60.00 to $50.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Finally, Needham & Company LLC dropped their target price on shares of ON Semiconductor from $57.00 to $50.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Fourteen investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $57.65.
Check Out Our Latest Analysis on ON
ON Semiconductor Stock Performance
The business has a 50-day moving average price of $48.60 and a 200-day moving average price of $48.21. The firm has a market capitalization of $24.96 billion, a price-to-earnings ratio of 41.48, a P/E/G ratio of 4.76 and a beta of 1.43. The company has a quick ratio of 3.32, a current ratio of 4.95 and a debt-to-equity ratio of 0.42.
ON Semiconductor (NASDAQ:ON - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The semiconductor company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.51 by $0.04. ON Semiconductor had a net margin of 9.51% and a return on equity of 17.40%. The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same period in the prior year, the company earned $1.08 earnings per share. The firm's revenue was down 22.4% on a year-over-year basis. As a group, sell-side analysts forecast that ON Semiconductor Corporation will post 2.6 earnings per share for the current year.
Hedge Funds Weigh In On ON Semiconductor
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Elequin Capital LP lifted its holdings in shares of 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 purchasing an additional 274 shares in the last quarter. Costello Asset Management INC bought a new position in ON Semiconductor during the 1st quarter valued at $26,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of ON Semiconductor during the fourth quarter worth $43,000. Golden State Wealth Management LLC raised its holdings in shares of ON Semiconductor by 83.3% during the first quarter. Golden State Wealth Management LLC now owns 704 shares of the semiconductor company's stock worth $29,000 after purchasing an additional 320 shares during the period. Finally, Rakuten Securities Inc. raised its holdings in shares of ON Semiconductor by 434.6% during the fourth quarter. Rakuten Securities Inc. now owns 850 shares of the semiconductor company's stock worth $54,000 after purchasing an additional 691 shares during the period. Hedge funds and other institutional investors own 97.70% of the company's stock.
ON Semiconductor Company Profile
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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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