Bank of America Corporation reissued their buy rating on shares of ON Semiconductor Corporation (NASDAQ:ON) in a research note issued to investors on Monday. They currently have a $25.00 price target on the semiconductor company’s stock.
Other analysts have also issued research reports about the company. BidaskClub lowered ON Semiconductor Corporation from a buy rating to a hold rating in a research report on Friday, September 15th. Needham & Company LLC raised ON Semiconductor Corporation from a buy rating to a strong-buy rating in a research report on Monday, August 7th. Summit Redstone lowered ON Semiconductor Corporation to a hold rating in a research report on Monday, November 6th. Jefferies Group LLC reaffirmed a hold rating and set a $20.00 price objective on shares of ON Semiconductor Corporation in a research report on Thursday, October 19th. Finally, Robert W. Baird reaffirmed a buy rating and set a $20.00 price objective on shares of ON Semiconductor Corporation in a research report on Thursday, August 24th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $21.23.
Shares of ON Semiconductor Corporation (ON) traded down $0.16 during midday trading on Monday, reaching $21.42. The company’s stock had a trading volume of 6,076,247 shares, compared to its average volume of 6,242,410. The stock has a market capitalization of $9,144.94, a price-to-earnings ratio of 19.78, a price-to-earnings-growth ratio of 0.82 and a beta of 2.06. 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 Corporation has a 52 week low of $10.85 and a 52 week high of $22.03.
In other news, EVP George H. Cave sold 6,943 shares of the stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $17.00, for a total transaction of $118,031.00. Following the completion of the sale, the executive vice president now owns 330,496 shares in the company, valued at $5,618,432. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Paul E. Rolls sold 10,000 shares of the stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $17.00, for a total transaction of $170,000.00. Following the sale, the vice president now owns 368,029 shares of the company’s stock, valued at approximately $6,256,493. The disclosure for this sale can be found here. Insiders sold 674,883 shares of company stock valued at $13,228,118 in the last 90 days. 1.40% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the stock. Oppenheimer Asset Management Inc. acquired a new stake in ON Semiconductor Corporation in the first quarter valued at about $110,000. Nine Chapters Capital Management LLC acquired a new stake in ON Semiconductor Corporation in the second quarter valued at about $157,000. Marshall Wace North America L.P. acquired a new stake in ON Semiconductor Corporation in the second quarter valued at about $184,000. BB&T Securities LLC acquired a new stake in ON Semiconductor Corporation in the third quarter valued at about $187,000. Finally, Cambridge Investment Research Advisors Inc. acquired a new stake in ON Semiconductor Corporation in the third quarter valued at about $200,000. Hedge funds and other institutional investors own 96.09% 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.
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