ON Semiconductor (NASDAQ:ON) Trading Up 3.5%

ON Semiconductor Corp (NASDAQ:ONGet Rating) was up 3.5% on Monday . The stock traded as high as $55.20 and last traded at $55.12. Approximately 48,570 shares were traded during trading, a decline of 99% from the average daily volume of 7,156,815 shares. The stock had previously closed at $53.26.

A number of research firms have recently commented on ON. KeyCorp upped their target price on ON Semiconductor from $72.00 to $80.00 and gave the company an “overweight” rating in a research note on Tuesday, February 8th. JPMorgan Chase & Co. upped their target price on ON Semiconductor from $60.00 to $71.00 and gave the company a “neutral” rating in a research note on Tuesday, February 8th. Mizuho upped their target price on ON Semiconductor from $60.00 to $66.00 in a research note on Thursday, January 13th. Jefferies Financial Group upped their target price on ON Semiconductor from $63.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, February 8th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on ON Semiconductor from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, February 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, ON Semiconductor has a consensus rating of “Buy” and an average target price of $66.25.

The firm has a market cap of $23.96 billion, a PE ratio of 23.36 and a beta of 1.71. The business has a 50-day moving average price of $59.51 and a two-hundred day moving average price of $58.54. The company has a quick ratio of 1.56, a current ratio of 2.45 and a debt-to-equity ratio of 0.63.

ON Semiconductor (NASDAQ:ONGet Rating) last announced its earnings results on Monday, February 7th. The semiconductor company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.15. ON Semiconductor had a net margin of 14.98% and a return on equity of 31.73%. The business had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter in the prior year, the firm earned $0.35 earnings per share. The business’s quarterly revenue was up 27.6% compared to the same quarter last year. On average, equities research analysts predict that ON Semiconductor Corp will post 4.18 earnings per share for the current fiscal year.

In related news, EVP Simon Keeton sold 4,055 shares of ON Semiconductor stock in a transaction on Monday, January 31st. The shares were sold at an average price of $55.07, for a total transaction of $223,308.85. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Paul Anthony Mascarenas sold 20,000 shares of the business’s stock in a transaction dated Wednesday, March 16th. The stock was sold at an average price of $60.00, for a total transaction of $1,200,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 51,055 shares of company stock worth $3,162,479. 1.10% of the stock is owned by company insiders.

Several large investors have recently modified their holdings of the company. Nordea Investment Management AB raised its holdings in shares of ON Semiconductor by 170.4% during the third quarter. Nordea Investment Management AB now owns 12,065,188 shares of the semiconductor company’s stock valued at $558,376,000 after acquiring an additional 7,602,971 shares during the period. Norges Bank acquired a new position in ON Semiconductor in the 4th quarter valued at approximately $373,702,000. Alliancebernstein L.P. increased its stake in ON Semiconductor by 156.3% in the 3rd quarter. Alliancebernstein L.P. now owns 6,612,897 shares of the semiconductor company’s stock valued at $302,672,000 after buying an additional 4,032,943 shares during the period. Mackenzie Financial Corp increased its stake in ON Semiconductor by 231.5% in the 4th quarter. Mackenzie Financial Corp now owns 5,139,465 shares of the semiconductor company’s stock valued at $349,072,000 after buying an additional 3,588,933 shares during the period. Finally, Allianz Asset Management GmbH increased its stake in ON Semiconductor by 33.5% in the 3rd quarter. Allianz Asset Management GmbH now owns 12,364,971 shares of the semiconductor company’s stock valued at $565,944,000 after buying an additional 3,100,451 shares during the period. 93.12% of the stock is owned by institutional investors.

ON Semiconductor Company Profile (NASDAQ:ON)

onsemi is engaged in disruptive innovations and also a supplier of power and analog semiconductors. The firm offers vehicle electrification and safety, sustainable energy grids, industrial automation, and 5G and cloud infrastructure, with a focus on automotive and industrial end-markets. It operates through the following segments: Power Solutions Group, Advanced Solutions Group, and Intelligent Sensing Group.

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