Shares of ON Semiconductor Corporation (NASDAQ:ON - Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $62.45, but opened at $60.41. ON Semiconductor shares last traded at $57.51, with a volume of 1,898,049 shares.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on ON shares. Susquehanna boosted their price target on ON Semiconductor from $50.00 to $75.00 and gave the company a "positive" rating in a report on Tuesday. B. Riley reiterated a "neutral" rating and issued a $56.00 price target (up from $40.00) on shares of ON Semiconductor in a report on Wednesday, June 18th. Stifel Nicolaus boosted their price target on ON Semiconductor from $42.00 to $50.00 and gave the company a "hold" rating in a report on Friday, July 18th. Citigroup boosted their price target on ON Semiconductor from $40.00 to $60.00 and gave the company a "neutral" rating in a report on Monday, July 7th. Finally, KeyCorp boosted their price target on ON Semiconductor from $50.00 to $65.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Fourteen investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $58.73.
Check Out Our Latest Research Report on ON Semiconductor
ON Semiconductor Price Performance
The company has a quick ratio of 3.32, a current ratio of 4.95 and a debt-to-equity ratio of 0.42. The firm has a market cap of $23.44 billion, a P/E ratio of 38.78, a PEG ratio of 4.92 and a beta of 1.43. The business has a fifty day moving average of $52.14 and a 200 day moving average of $47.84.
ON Semiconductor (NASDAQ:ON - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the previous year, the business earned $1.08 earnings per share. The company's revenue was down 22.4% on a year-over-year basis. On average, sell-side analysts anticipate that ON Semiconductor Corporation will post 2.6 earnings per share for the current year.
Hedge Funds Weigh In On ON Semiconductor
A number of hedge funds have recently added to or reduced their stakes in the stock. Costello Asset Management INC purchased a new stake in shares of ON Semiconductor during the first quarter valued at approximately $26,000. Golden State Wealth Management LLC increased its position 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 valued at $29,000 after acquiring an additional 320 shares during the last quarter. Trust Co. of Toledo NA OH purchased a new stake in shares of ON Semiconductor during the second quarter valued at approximately $29,000. Elequin Capital LP increased its position in shares of 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 acquiring an additional 274 shares during the last quarter. Finally, Opal Wealth Advisors LLC purchased a new stake in shares of ON Semiconductor during the first quarter valued at approximately $41,000. Institutional investors and hedge funds own 97.70% of the company's stock.
About ON Semiconductor
(
Get Free Report)
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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