Summit Insights Downgrades ON Semiconductor (NASDAQ:ON) to Hold

ON Semiconductor (NASDAQ:ON) was downgraded by investment analysts at Summit Insights from a “buy” rating to a “hold” rating in a research note issued on Tuesday, Analyst Price Targets reports.

A number of other analysts have also weighed in on the stock. Benchmark upped their price target on shares of ON Semiconductor from $36.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, February 2nd. Deutsche Bank Aktiengesellschaft upped their price target on shares of ON Semiconductor from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, February 2nd. Raymond James upped their price target on shares of ON Semiconductor from $45.00 to $50.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 2nd. Zacks Investment Research lowered shares of ON Semiconductor from a “buy” rating to a “hold” rating and set a $39.00 price target for the company. in a research note on Tuesday, January 12th. Finally, B. Riley upped their price target on shares of ON Semiconductor from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, January 25th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $34.12.

NASDAQ ON opened at $41.08 on Tuesday. ON Semiconductor has a 52 week low of $8.17 and a 52 week high of $42.33. The company has a current ratio of 2.11, a quick ratio of 1.40 and a debt-to-equity ratio of 1.03. The stock has a market cap of $16.89 billion, a price-to-earnings ratio of 83.84, a price-to-earnings-growth ratio of 5.67 and a beta of 1.99. The company has a 50-day moving average price of $36.78 and a two-hundred day moving average price of $28.17.

ON Semiconductor (NASDAQ:ON) last posted its earnings results on Sunday, January 31st. The semiconductor company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.28 by $0.07. ON Semiconductor had a net margin of 3.87% and a return on equity of 9.92%. The firm had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter in the prior year, the firm earned $0.30 EPS. As a group, equities research analysts expect that ON Semiconductor will post 0.77 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of the stock. AE Wealth Management LLC lifted its position in shares of ON Semiconductor by 1.1% in the 4th quarter. AE Wealth Management LLC now owns 27,616 shares of the semiconductor company’s stock valued at $904,000 after acquiring an additional 292 shares in the last quarter. Eaton Vance Management lifted its position in shares of ON Semiconductor by 0.3% in the 4th quarter. Eaton Vance Management now owns 99,826 shares of the semiconductor company’s stock valued at $3,267,000 after acquiring an additional 335 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of ON Semiconductor by 2.5% in the 3rd quarter. CIBC Asset Management Inc now owns 15,618 shares of the semiconductor company’s stock valued at $339,000 after acquiring an additional 387 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of ON Semiconductor by 4.0% in the 3rd quarter. Fifth Third Bancorp now owns 11,143 shares of the semiconductor company’s stock valued at $242,000 after acquiring an additional 433 shares in the last quarter. Finally, Capital International Sarl lifted its position in shares of ON Semiconductor by 1.2% in the 3rd quarter. Capital International Sarl now owns 37,351 shares of the semiconductor company’s stock valued at $810,000 after acquiring an additional 438 shares in the last quarter. Institutional investors and hedge funds own 98.89% of the company’s stock.

About ON Semiconductor

ON Semiconductor Corp. engages in the design, manufacture, and marketing of portfolio of semiconductor components. It operates through the following segments: Power Solutions Group, Advanced Solutions Group, and Intelligent Sensing Group. The Power Solutions Group segment offers discrete, module, and semiconductor products that perform multiple application functions, including power switching, power conversion, signal conditioning, circuit protection, signal amplification, and voltage reference functions.

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Analyst Recommendations for ON Semiconductor (NASDAQ:ON)

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