ON Semiconductor Corporation (ON) Price Target Raised to $14.50

ON Semiconductor Corporation (NASDAQ:ON) had its target price upped by Credit Suisse Group from $13.50 to $14.50 in a report released on Tuesday. The firm currently has an underperform rating on the semiconductor company’s stock.

A number of other equities analysts also recently weighed in on ON. B. Riley boosted their target price on shares of ON Semiconductor Corporation from $18.00 to $21.00 and gave the stock a buy rating in a research note on Monday. Zacks Investment Research downgraded shares of ON Semiconductor Corporation from a buy rating to a hold rating in a research note on Wednesday, May 10th. Vetr raised shares of ON Semiconductor Corporation from a sell rating to a strong-buy rating and set a $16.85 target price for the company in a research note on Tuesday, April 11th. BidaskClub downgraded shares of ON Semiconductor Corporation from a buy rating to a hold rating in a research note on Thursday, July 27th. Finally, Raymond James Financial, Inc. assumed coverage on shares of ON Semiconductor Corporation in a research note on Friday, June 16th. They issued an outperform rating and a $19.00 target price for the company. One research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $16.97.

ON Semiconductor Corporation (NASDAQ ON) traded up 2.38% during midday trading on Tuesday, reaching $15.94. 7,609,144 shares of the company traded hands. The firm has a market capitalization of $6.72 billion, a price-to-earnings ratio of 23.48 and a beta of 1.97. ON Semiconductor Corporation has a 12 month low of $10.08 and a 12 month high of $16.93. The firm’s 50 day moving average price is $15.03 and its 200 day moving average price is $14.99.

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In related news, insider Bernard Raymond Colpitts, Jr. sold 2,490 shares of the stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $16.31, for a total transaction of $40,611.90. Following the completion of the transaction, the insider now owns 24,591 shares in the company, valued at $401,079.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gilles Delfassy sold 4,500 shares of the stock in a transaction on Friday, June 9th. The stock was sold at an average price of $16.87, for a total transaction of $75,915.00. Following the transaction, the director now owns 33,044 shares of the company’s stock, valued at approximately $557,452.28. The disclosure for this sale can be found here. Insiders sold 127,180 shares of company stock valued at $1,994,652 in the last quarter. Corporate insiders own 1.60% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC boosted its position in shares of ON Semiconductor Corporation by 58.7% in the second quarter. FMR LLC now owns 40,082,107 shares of the semiconductor company’s stock valued at $562,753,000 after buying an additional 14,818,360 shares during the last quarter. Coatue Management LLC acquired a new position in shares of ON Semiconductor Corporation during the second quarter valued at approximately $68,740,000. LSV Asset Management boosted its position in shares of ON Semiconductor Corporation by 2,285.0% in the second quarter. LSV Asset Management now owns 2,761,800 shares of the semiconductor company’s stock valued at $38,775,000 after buying an additional 2,646,000 shares during the last quarter. Rothschild Asset Management Inc. acquired a new position in shares of ON Semiconductor Corporation during the second quarter valued at approximately $34,313,000. Finally, AJO LP boosted its position in shares of ON Semiconductor Corporation by 702.8% in the second quarter. AJO LP now owns 2,194,107 shares of the semiconductor company’s stock valued at $30,805,000 after buying an additional 1,920,815 shares during the last quarter. Institutional investors and hedge funds own 97.43% of the company’s stock.

About ON Semiconductor Corporation

ON Semiconductor Corporation offers a portfolio of sensors, power management, connectivity, custom and system on chip (SoC), analog, logic, timing, and discrete devices. The Company’s segments include Power Solutions Group, Analog Solutions Group and Image Sensor Group. The Power Solutions Group offers a range of discrete, module and integrated semiconductor products.

Analyst Recommendations for ON Semiconductor Corporation (NASDAQ:ON)

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