Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell Raises ON Semiconductor (NASDAQ:ON) Price Target to $45.00

ON Semiconductor (NASDAQ:ON) had its price objective increased by equities researchers at Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell from $41.50 to $45.00 in a research report issued on Tuesday, Stock Target Advisor reports. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell’s price objective suggests a potential upside of 20.94% from the stock’s current price.

A number of other equities analysts have also recently weighed in on ON. Susquehanna upped their price target on shares of ON Semiconductor from $45.00 to $46.00 and gave the stock a “positive” rating in a research note on Tuesday. Benchmark lifted their price target on shares of ON Semiconductor from $36.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, February 2nd. Piper Sandler upped their price target on ON Semiconductor from $35.00 to $45.00 and gave the stock an “overweight” rating in a report on Monday, January 25th. Bank of America upgraded ON Semiconductor from an “underperform” rating to a “buy” rating and set a $48.00 target price on the stock in a research report on Monday, March 1st. Finally, Raymond James raised their price target on ON Semiconductor from $45.00 to $50.00 and gave the company an “outperform” rating in a research report on Tuesday, February 2nd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $39.61.

ON traded down $0.36 during trading on Tuesday, hitting $37.21. The stock had a trading volume of 973,889 shares, compared to its average volume of 7,090,835. The firm has a market capitalization of $15.56 billion, a P/E ratio of 75.41, a PEG ratio of 5.67 and a beta of 1.99. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.40 and a current ratio of 2.11. ON Semiconductor has a twelve month low of $13.48 and a twelve month high of $44.59. The company’s 50-day moving average price is $41.30 and its 200 day moving average price is $35.14.

ON Semiconductor (NASDAQ:ON) last issued its earnings results on Sunday, May 2nd. The semiconductor company reported $0.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.01. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.46 billion. ON Semiconductor had a net margin of 3.87% and a return on equity of 9.92%. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.10 earnings per share. As a group, equities analysts expect that ON Semiconductor will post 0.77 earnings per share for the current fiscal year.

In other ON Semiconductor news, Director Emmanuel T. Hernandez sold 74,165 shares of the company’s stock in a transaction dated Monday, March 8th. The shares were sold at an average price of $37.73, for a total value of $2,798,245.45. Following the completion of the sale, the director now directly owns 103,461 shares of the company’s stock, valued at approximately $3,903,583.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP George H. Cave sold 8,987 shares of the firm’s stock in a transaction dated Monday, April 12th. The shares were sold at an average price of $42.38, for a total transaction of $380,869.06. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 113,413 shares of company stock worth $4,464,308. 1.42% of the stock is owned by insiders.

A number of institutional investors have recently bought and sold shares of ON. Baillie Gifford & Co. acquired a new stake in shares of ON Semiconductor during the 4th quarter valued at $27,000. Jackson Grant Investment Advisers Inc. acquired a new position in shares of ON Semiconductor in the 4th quarter worth $32,000. Focused Wealth Management Inc acquired a new stake in shares of ON Semiconductor during the first quarter worth $37,000. MPS Loria Financial Planners LLC purchased a new stake in shares of ON Semiconductor during the first quarter valued at $41,000. Finally, International Assets Investment Management LLC acquired a new position in shares of ON Semiconductor in the 4th quarter valued at $43,000. Hedge funds and other institutional investors own 98.89% of the company’s stock.

About ON Semiconductor

ON Semiconductor Corporation, together with its subsidiaries, manufactures and sells semiconductor components for various electronic devices worldwide. The company operates in three segments: Power Solutions Group (PSG), Advanced Solutions Group (ASG), and Intelligent Sensing Group (ISG). The PSG segment offers analog, discrete, module, and integrated semiconductor products for various applications, such as power switching, power conversion, signal conditioning, circuit protection, signal amplification, and voltage regulation functions.

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