ON Semiconductor (NASDAQ:ON) was upgraded by stock analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a report issued on Saturday.

Other equities research analysts have also issued research reports about the stock. ValuEngine raised shares of ON Semiconductor from a “sell” rating to a “hold” rating in a report on Friday, November 2nd. Craig Hallum reaffirmed a “buy” rating and set a $25.00 target price (down previously from $31.00) on shares of ON Semiconductor in a report on Tuesday, October 30th. Morgan Stanley dropped their target price on shares of ON Semiconductor from $18.50 to $14.50 and set an “underweight” rating for the company in a report on Tuesday, October 30th. Zacks Investment Research raised shares of ON Semiconductor from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, BMO Capital Markets began coverage on shares of ON Semiconductor in a report on Monday, November 12th. They set a “market perform” rating and a $20.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. ON Semiconductor has an average rating of “Hold” and an average target price of $24.60.

NASDAQ:ON opened at $18.49 on Friday. The company has a quick ratio of 1.44, a current ratio of 2.36 and a debt-to-equity ratio of 0.82. The firm has a market cap of $7.50 billion, a price-to-earnings ratio of 12.66, a P/E/G ratio of 0.85 and a beta of 1.94. ON Semiconductor has a fifty-two week low of $14.55 and a fifty-two week high of $27.10.

ON Semiconductor (NASDAQ:ON) last posted its quarterly earnings data on Sunday, October 28th. The semiconductor company reported $0.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.07. The company had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.51 billion. ON Semiconductor had a net margin of 17.24% and a return on equity of 25.97%. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.44 earnings per share. As a group, equities research analysts predict that ON Semiconductor will post 1.9 EPS for the current year.

ON Semiconductor declared that its board has approved a share buyback plan on Thursday, November 15th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to reacquire up to 20.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

In other ON Semiconductor news, Director Daryl Ostrander sold 4,000 shares of the company’s stock in a transaction dated Tuesday, November 20th. The shares were sold at an average price of $18.01, for a total value of $72,040.00. Following the transaction, the director now owns 85,135 shares of the company’s stock, valued at $1,533,281.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Paul E. Rolls sold 31,487 shares of the company’s stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $20.00, for a total transaction of $629,740.00. The disclosure for this sale can be found here. Insiders sold 54,470 shares of company stock worth $1,036,757 in the last ninety days. 1.29% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of ON. Pictet Asset Management Ltd. lifted its position in ON Semiconductor by 24.1% in the third quarter. Pictet Asset Management Ltd. now owns 11,721,514 shares of the semiconductor company’s stock valued at $216,028,000 after buying an additional 2,278,586 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in ON Semiconductor by 45.3% in the third quarter. Dimensional Fund Advisors LP now owns 6,898,808 shares of the semiconductor company’s stock valued at $127,137,000 after buying an additional 2,151,387 shares during the last quarter. Capital International Investors lifted its position in shares of ON Semiconductor by 9.0% during the third quarter. Capital International Investors now owns 20,741,159 shares of the semiconductor company’s stock worth $382,260,000 after purchasing an additional 1,712,102 shares in the last quarter. Income Research & Management acquired a new stake in shares of ON Semiconductor during the third quarter worth about $944,000. Finally, Schroder Investment Management Group lifted its position in shares of ON Semiconductor by 16.6% during the third quarter. Schroder Investment Management Group now owns 4,400,505 shares of the semiconductor company’s stock worth $81,102,000 after purchasing an additional 627,238 shares in the last quarter. 91.71% of the stock is currently owned by institutional investors.

ON Semiconductor Company Profile

ON Semiconductor Corporation manufactures and sells semiconductor components for various electronic devices worldwide. It operates through three segments: Power Solutions Group, Analog Solutions Group, and Image Sensor Group. The Power Solutions Group segment offers discrete, module, and integrated semiconductor products for various applications, such as power switching, power 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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