Jefferies Group Reaffirms “Hold” Rating for ON Semiconductor (ON)

ON Semiconductor (NASDAQ:ON)‘s stock had its “hold” rating reiterated by equities research analysts at Jefferies Group in a report released on Tuesday. They currently have a $26.00 price target on the semiconductor company’s stock. Jefferies Group’s price target suggests a potential upside of 16.23% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. Mizuho lifted their target price on shares of ON Semiconductor from $26.00 to $27.00 and gave the company a “buy” rating in a report on Monday. B. Riley lifted their target price on shares of ON Semiconductor from $25.00 to $29.00 and gave the company a “buy” rating in a report on Monday. Craig Hallum lifted their target price on shares of ON Semiconductor from $26.00 to $28.00 and gave the company a “buy” rating in a report on Monday. Citigroup lifted their target price on shares of ON Semiconductor from $24.00 to $28.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Robert W. Baird lifted their target price on shares of ON Semiconductor from $25.00 to $26.00 and gave the company an “outperform” rating in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $23.41.

Shares of ON Semiconductor (ON) traded down $0.27 during midday trading on Tuesday, hitting $22.37. 3,731,814 shares of the stock traded hands, compared to its average volume of 7,580,804. ON Semiconductor has a one year low of $13.65 and a one year high of $25.60. The stock has a market cap of $10,048.40, a PE ratio of 12.02, a PEG ratio of 0.78 and a beta of 2.08. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.97 and a quick ratio of 1.25.

ON Semiconductor (NASDAQ:ON) last announced its quarterly earnings data on Sunday, November 5th. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.10). ON Semiconductor had a net margin of 14.63% and a return on equity of 23.64%. sell-side analysts forecast that ON Semiconductor will post 1.66 earnings per share for the current fiscal year.

In other ON Semiconductor news, COO William A. Schromm sold 54,366 shares of the business’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $21.18, for a total value of $1,151,471.88. Following the transaction, the chief operating officer now owns 666,815 shares in the company, valued at approximately $14,123,141.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP William Hall sold 22,583 shares of the business’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $23.86, for a total transaction of $538,830.38. The disclosure for this sale can be found here. Insiders sold a total of 180,549 shares of company stock worth $3,928,954 in the last quarter. 1.40% of the stock is currently owned by company insiders.

Several institutional investors have recently modified their holdings of the company. Janus Henderson Group PLC raised its stake in shares of ON Semiconductor by 6.0% in the 3rd quarter. Janus Henderson Group PLC now owns 34,605,410 shares of the semiconductor company’s stock valued at $639,162,000 after purchasing an additional 1,949,089 shares in the last quarter. Capital International Investors raised its stake in shares of ON Semiconductor by 1.9% in the 3rd quarter. Capital International Investors now owns 24,062,785 shares of the semiconductor company’s stock valued at $444,440,000 after purchasing an additional 439,448 shares in the last quarter. Pictet Asset Management Ltd. raised its stake in shares of ON Semiconductor by 16.8% in the 3rd quarter. Pictet Asset Management Ltd. now owns 8,576,929 shares of the semiconductor company’s stock valued at $158,416,000 after purchasing an additional 1,234,603 shares in the last quarter. LSV Asset Management raised its stake in shares of ON Semiconductor by 63.1% in the 4th quarter. LSV Asset Management now owns 7,255,728 shares of the semiconductor company’s stock valued at $151,934,000 after purchasing an additional 2,806,816 shares in the last quarter. Finally, TCW Group Inc. raised its stake in shares of ON Semiconductor by 22.8% in the 3rd quarter. TCW Group Inc. now owns 5,057,099 shares of the semiconductor company’s stock valued at $93,405,000 after purchasing an additional 938,018 shares in the last quarter. Institutional investors and hedge funds own 99.86% of the company’s stock.

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About ON Semiconductor

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 (NASDAQ:ON)

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