ON Semiconductor (ON) Given New $28.00 Price Target at Citigroup

ON Semiconductor (NASDAQ:ON) had its price target boosted by investment analysts at Citigroup from $24.00 to $28.00 in a research report issued to clients and investors on Tuesday. The firm presently has a “buy” rating on the semiconductor company’s stock. Citigroup’s target price suggests a potential upside of 22.81% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. B. Riley raised their target price on ON Semiconductor from $21.00 to $25.00 and gave the company a “buy” rating in a report on Tuesday, November 7th. Craig Hallum raised their target price on ON Semiconductor from $25.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday, November 7th. Loop Capital raised their target price on ON Semiconductor from $22.00 to $27.00 and gave the company a “buy” rating in a report on Tuesday, November 7th. Zacks Investment Research raised ON Semiconductor from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a report on Tuesday, October 17th. Finally, Robert W. Baird reissued a “buy” rating and issued a $25.00 target price on shares of ON Semiconductor in a report on Tuesday, October 17th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $23.14.

Shares of ON Semiconductor (NASDAQ:ON) traded up $0.16 during midday trading on Tuesday, hitting $22.80. The company had a trading volume of 2,207,464 shares, compared to its average volume of 7,571,773. The company has a current ratio of 1.97, a quick ratio of 1.25 and a debt-to-equity ratio of 1.20. ON Semiconductor has a 52-week low of $13.65 and a 52-week high of $25.60. The firm has a market capitalization of $10,048.40, a P/E ratio of 12.19, a PEG ratio of 0.78 and a beta of 2.08.

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

In other news, EVP William Hall sold 22,583 shares of ON Semiconductor 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daryl Ostrander sold 1,398 shares of ON Semiconductor stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $19.10, for a total value of $26,701.80. Following the transaction, the director now directly owns 64,060 shares of the company’s stock, valued at approximately $1,223,546. The disclosure for this sale can be found here. Insiders have sold a total of 180,549 shares of company stock valued at $3,928,954 in the last ninety days. Corporate insiders own 1.40% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. Emerald Advisers Inc. PA increased its position in ON Semiconductor by 7.2% during the 4th quarter. Emerald Advisers Inc. PA now owns 99,624 shares of the semiconductor company’s stock worth $2,086,000 after purchasing an additional 6,690 shares in the last quarter. Stephens Investment Management Group LLC increased its position in ON Semiconductor by 3.3% during the 4th quarter. Stephens Investment Management Group LLC now owns 493,067 shares of the semiconductor company’s stock worth $10,325,000 after purchasing an additional 15,805 shares in the last quarter. Meeder Asset Management Inc. increased its position in ON Semiconductor by 144.3% during the 4th quarter. Meeder Asset Management Inc. now owns 68,604 shares of the semiconductor company’s stock worth $1,436,000 after purchasing an additional 40,524 shares in the last quarter. Public Employees Retirement Association of Colorado increased its position in ON Semiconductor by 3.2% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 85,392 shares of the semiconductor company’s stock worth $1,788,000 after purchasing an additional 2,658 shares in the last quarter. Finally, US Bancorp DE increased its position in ON Semiconductor by 3.0% during the 4th quarter. US Bancorp DE now owns 527,479 shares of the semiconductor company’s stock worth $11,045,000 after purchasing an additional 15,489 shares in the last quarter. Hedge funds and other institutional investors own 99.86% of the company’s stock.

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ON Semiconductor Company Profile

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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