ON Semiconductor (NASDAQ:ON) Stock Price Expected to Rise, Citigroup Analyst Says

ON Semiconductor (NASDAQ:ON - Get Free Report) had its target price boosted by Citigroup from $40.00 to $60.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the semiconductor company's stock. Citigroup's price target points to a potential upside of 9.89% from the stock's previous close.

A number of other equities analysts have also recently issued reports on the company. Rosenblatt Securities reaffirmed a "neutral" rating and issued a $42.00 target price on shares of ON Semiconductor in a report on Tuesday, May 6th. JPMorgan Chase & Co. lowered their target price on ON Semiconductor from $60.00 to $48.00 and set a "neutral" rating for the company in a report on Tuesday, May 6th. B. Riley reaffirmed a "neutral" rating and issued a $56.00 target price (up previously from $40.00) on shares of ON Semiconductor in a report on Wednesday, June 18th. Stifel Nicolaus lowered their target price on ON Semiconductor from $52.00 to $42.00 and set a "hold" rating for the company in a report on Thursday, April 17th. Finally, Roth Capital reiterated a "buy" rating and issued a $70.00 price target (up previously from $50.00) on shares of ON Semiconductor in a research report on Tuesday, June 17th. Thirteen equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, ON Semiconductor has an average rating of "Moderate Buy" and a consensus target price of $57.42.

ON Semiconductor Trading Down 3.5%

ON traded down $2.00 during midday trading on Monday, reaching $54.60. 5,251,922 shares of the company were exchanged, compared to its average volume of 8,318,679. The stock has a market capitalization of $22.82 billion, a P/E ratio of 37.92, a PEG ratio of 4.67 and a beta of 1.43. The company has a debt-to-equity ratio of 0.42, a quick ratio of 3.32 and a current ratio of 4.95. The stock's 50-day simple moving average is $47.17 and its 200 day simple moving average is $48.20. ON Semiconductor has a one year low of $31.04 and a one year high of $80.08.

ON Semiconductor (NASDAQ:ON - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The semiconductor company reported $0.55 EPS for the quarter, topping analysts' consensus estimates of $0.51 by $0.04. ON Semiconductor had a return on equity of 17.40% and a net margin of 9.51%. The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same quarter last year, the firm posted $1.08 earnings per share. ON Semiconductor's revenue was down 22.4% compared to the same quarter last year. As a group, analysts forecast that ON Semiconductor will post 2.6 earnings per share for the current fiscal year.

Institutional Trading of ON Semiconductor

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. lifted its stake in ON Semiconductor by 10.6% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 5,930 shares of the semiconductor company's stock worth $311,000 after acquiring an additional 568 shares during the period. Kera Capital Partners Inc. purchased a new position in ON Semiconductor during the second quarter valued at $266,000. AG2R LA Mondiale Gestion D Actifs bought a new position in shares of ON Semiconductor during the first quarter valued at $871,000. Geneos Wealth Management Inc. increased its holdings in shares of ON Semiconductor by 61.2% during the first quarter. Geneos Wealth Management Inc. now owns 1,335 shares of the semiconductor company's stock valued at $54,000 after acquiring an additional 507 shares in the last quarter. Finally, Bayforest Capital Ltd bought a new position in shares of ON Semiconductor during the first quarter valued at $535,000. Hedge funds and other institutional investors own 97.70% of the company's stock.

About ON Semiconductor

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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