ON Semiconductor (NASDAQ:ON) Downgraded by BidaskClub to Sell

BidaskClub cut shares of ON Semiconductor (NASDAQ:ON) from a hold rating to a sell rating in a report released on Thursday, BidAskClub reports.

A number of other equities research analysts have also commented on the company. Loop Capital reduced their price target on ON Semiconductor to $23.00 and set a buy rating on the stock in a research report on Tuesday, August 6th. Cowen reiterated an outperform rating and issued a $25.00 price target (down previously from $29.00) on shares of ON Semiconductor in a research report on Tuesday, August 6th. Benchmark started coverage on ON Semiconductor in a research report on Friday, September 20th. They issued a buy rating and a $26.00 price target on the stock. Citigroup upped their price target on ON Semiconductor from $21.00 to $24.50 and gave the company a buy rating in a research report on Tuesday, October 29th. Finally, Raymond James upgraded ON Semiconductor from a market perform rating to a strong-buy rating and set a $21.00 target price on the stock in a research report on Monday, August 19th. Two analysts have rated the stock with a sell rating, three have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $25.27.

ON stock traded up $0.04 during midday trading on Thursday, reaching $20.81. 2,351,700 shares of the stock were exchanged, compared to its average volume of 6,334,240. The stock has a market capitalization of $8.67 billion, a PE ratio of 10.62, a P/E/G ratio of 1.40 and a beta of 2.21. ON Semiconductor has a 52 week low of $15.06 and a 52 week high of $23.54. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.54 and a quick ratio of 0.92. The company has a fifty day moving average price of $19.97 and a 200 day moving average price of $19.47.

ON Semiconductor (NASDAQ:ON) last released its quarterly earnings results on Sunday, October 27th. The semiconductor company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). ON Semiconductor had a net margin of 5.71% and a return on equity of 21.95%. The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter last year, the firm posted $0.57 EPS. The company’s quarterly revenue was down 10.4% on a year-over-year basis. As a group, analysts anticipate that ON Semiconductor will post 1.51 earnings per share for the current fiscal year.

In related news, CFO Bernard Gutmann sold 43,266 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $18.79, for a total transaction of $812,968.14. Following the transaction, the chief financial officer now directly owns 700,344 shares of the company’s stock, valued at approximately $13,159,463.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Simon Keeton sold 8,812 shares of the company’s stock in a transaction that occurred 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 $2,384,402.02. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 87,535 shares of company stock worth $1,737,379. 1.40% of the stock is owned by corporate insiders.

Hedge funds have recently bought and sold shares of the stock. Stephens Inc. AR raised its stake in shares of ON Semiconductor by 11.2% in the second quarter. Stephens Inc. AR now owns 4,983 shares of the semiconductor company’s stock worth $101,000 after purchasing an additional 503 shares during the last quarter. CFO4Life Group LLC raised its stake in shares of ON Semiconductor by 2.3% in the second quarter. CFO4Life Group LLC now owns 28,915 shares of the semiconductor company’s stock worth $584,000 after purchasing an additional 659 shares during the last quarter. World Asset Management Inc raised its stake in shares of ON Semiconductor by 5.3% in the third quarter. World Asset Management Inc now owns 13,315 shares of the semiconductor company’s stock worth $256,000 after purchasing an additional 671 shares during the last quarter. First Republic Investment Management Inc. raised its stake in shares of ON Semiconductor by 5.0% in the second quarter. First Republic Investment Management Inc. now owns 14,852 shares of the semiconductor company’s stock worth $300,000 after purchasing an additional 712 shares during the last quarter. Finally, MML Investors Services LLC raised its stake in shares of ON Semiconductor by 6.7% in the second quarter. MML Investors Services LLC now owns 11,599 shares of the semiconductor company’s stock worth $234,000 after purchasing an additional 724 shares during the last quarter. 97.49% of the stock is currently owned by institutional investors and hedge funds.

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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