ON Semiconductor (NASDAQ:ON) Earns Positive Rating from Susquehanna

Key Points

• Susquehanna has reduced its price target for ON Semiconductor from $75.00 to $65.00, while maintaining a "positive" rating which suggests a potential upside of 35.50% from the current price.
• ON Semiconductor recently reported a quarterly earnings miss with $0.53 EPS, falling short of estimates, and a revenue of $1.47 billion, which still exceeded analyst predictions.
• The stock currently holds a consensus rating of "Hold" from fifteen analysts, with a consensus target price of $57.20.

ON Semiconductor (NASDAQ:ON - Get Free Report)'s stock had its "positive" rating reiterated by Susquehanna in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports. They presently have a $65.00 target price on the semiconductor company's stock, down from their previous target price of $75.00. Susquehanna's price target suggests a potential upside of 37.60% from the stock's previous close.

Other equities analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. cut 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. Bank of America reissued a "neutral" rating and issued a $56.00 price objective (down previously from $70.00) on shares of ON Semiconductor in a research report on Tuesday. KGI Securities initiated coverage on shares of ON Semiconductor in a research report on Friday, May 23rd. They issued a "neutral" rating for the company. Robert W. Baird lowered their target price on shares of ON Semiconductor from $42.00 to $34.00 and set a "neutral" rating for the company in a report on Tuesday, May 6th. Finally, Benchmark lowered their target price on shares of ON Semiconductor from $60.00 to $50.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Fifteen equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, ON Semiconductor has an average rating of "Hold" and an average target price of $56.84.

ON Semiconductor Stock Down 1.5%

Shares of NASDAQ:ON opened at $47.24 on Tuesday. 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 has a fifty-two week low of $31.04 and a fifty-two week high of $78.61. The firm's 50-day simple moving average is $54.05 and its 200-day simple moving average is $47.71. The company has a market cap of $19.74 billion, a price-to-earnings ratio of 44.15, a PEG ratio of 3.94 and a beta of 1.45.

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

Hedge Funds Weigh In On ON Semiconductor

Institutional investors and hedge funds have recently bought and sold shares of the business. Janus Henderson Group PLC grew its position 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 valued at $780,387,000 after purchasing an additional 1,041,989 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of ON Semiconductor by 1.0% in the first 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 increased its stake in shares of ON Semiconductor by 15.3% in the second 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. acquired a new position in shares of ON Semiconductor in the first quarter worth $219,001,000. Finally, Dimensional Fund Advisors LP increased its stake in shares of ON Semiconductor by 18.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,014,671 shares of the semiconductor company's stock worth $316,195,000 after acquiring an additional 771,610 shares during the last quarter. 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.