ON Semiconductor (NASDAQ:ON) Lowered to Sell at ValuEngine

ValuEngine downgraded shares of ON Semiconductor (NASDAQ:ON) from a hold rating to a sell rating in a research report released on Monday morning, ValuEngine reports.

Other equities research analysts have also recently issued research reports about the stock. BNP Paribas started coverage on shares of ON Semiconductor in a research note on Friday, August 30th. They issued an outperform rating on the stock. Raymond James raised ON Semiconductor from a market perform rating to a strong-buy rating and set a $21.00 price objective on the stock in a research note on Monday, August 19th. Mizuho reaffirmed a buy rating and set a $26.00 price objective on shares of ON Semiconductor in a research note on Monday, August 5th. Loop Capital decreased their price objective on ON Semiconductor to $23.00 and set a buy rating on the stock in a research note on Tuesday, August 6th. Finally, BidaskClub raised ON Semiconductor from a strong sell rating to a sell rating in a report on Thursday, September 12th. Three research analysts have rated the stock with a sell rating, three have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. ON Semiconductor currently has an average rating of Buy and an average target price of $24.77.

NASDAQ:ON opened at $17.53 on Monday. The stock’s fifty day moving average price is $18.59 and its two-hundred day moving average price is $19.91. ON Semiconductor has a 52-week low of $14.55 and a 52-week high of $23.54. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.41 and a current ratio of 2.42. The company has a market cap of $7.62 billion, a price-to-earnings ratio of 8.94, a P/E/G ratio of 1.80 and a beta of 2.18.

ON Semiconductor (NASDAQ:ON) last posted its quarterly earnings data on Sunday, August 4th. The semiconductor company reported $0.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.42. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.38 billion. ON Semiconductor had a return on equity of 25.36% and a net margin of 9.49%. The business’s revenue for the quarter was down 7.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.46 EPS. On average, equities analysts predict that ON Semiconductor will post 1.55 EPS for the current fiscal year.

In related news, EVP Simon Keeton sold 8,812 shares of ON Semiconductor stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $20.02, for a total value of $176,416.24. Following the transaction, the executive vice president now directly owns 119,101 shares in the company, valued at approximately $2,384,402.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Bernard Gutmann sold 43,266 shares of ON Semiconductor stock in a transaction on Monday, September 30th. The stock was sold at an average price of $18.79, for a total value of $812,968.14. Following the completion of the transaction, the chief financial officer now owns 700,344 shares in the company, valued at $13,159,463.76. The disclosure for this sale can be found here. Insiders sold a total of 93,545 shares of company stock worth $1,901,658 in the last three months. Company insiders own 1.40% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Janus Henderson Group PLC grew its holdings in shares of ON Semiconductor by 19.4% during the second quarter. Janus Henderson Group PLC now owns 36,912,800 shares of the semiconductor company’s stock valued at $746,008,000 after buying an additional 6,008,620 shares in the last quarter. Point72 Asset Management L.P. lifted its position in shares of ON Semiconductor by 185.3% in the second quarter. Point72 Asset Management L.P. now owns 5,706,798 shares of the semiconductor company’s stock worth $115,334,000 after buying an additional 3,706,611 shares during the last quarter. Villere ST Denis J & Co. LLC acquired a new stake in shares of ON Semiconductor in the second quarter worth about $68,973,000. Nuveen Asset Management LLC lifted its position in shares of ON Semiconductor by 206.8% in the second quarter. Nuveen Asset Management LLC now owns 3,681,173 shares of the semiconductor company’s stock worth $74,397,000 after buying an additional 2,481,156 shares during the last quarter. Finally, Westfield Capital Management Co. LP lifted its position in shares of ON Semiconductor by 120.4% in the second quarter. Westfield Capital Management Co. LP now owns 4,101,364 shares of the semiconductor company’s stock worth $82,889,000 after buying an additional 2,240,369 shares during the last quarter. Institutional investors and hedge funds own 96.06% of the company’s stock.

ON Semiconductor Company Profile

ON Semiconductor Corporation manufactures and sells semiconductor components for various electronic devices worldwide. The company operates in three segments: Power Solutions Group, Analog Solutions Group, and Intelligent Sensing Group. The Power Solutions Group segment offers discrete, module, and integrated semiconductor products for various applications, such as power switching and conversion, signal conditioning, circuit protection, signal amplification, and voltage reference.

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Analyst Recommendations for ON Semiconductor (NASDAQ:ON)

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