Published On: Wed, Sep 21st, 2016

Credit Suisse Group AG Reiterates “Buy” Rating for ON Semiconductor Corp. (ON)

ON Semiconductor Corp. (NASDAQ:ON)‘s stock had its “buy” rating reissued by Credit Suisse Group AG in a research report issued to clients and investors on Tuesday. They presently have a $15.00 price objective on the stock. Credit Suisse Group AG’s target price points to a potential upside of 29.53% from the stock’s previous close.
ON has been the subject of several other research reports. Zacks Investment Research cut ON Semiconductor Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, July 26th. Needham & Company LLC reissued a “buy” rating and set a $14.00 target price on shares of ON Semiconductor Corp. in a research note on Friday. KeyCorp reissued a “buy” rating and set a $13.00 target price on shares of ON Semiconductor Corp. in a research note on Wednesday, July 6th. Citigroup Inc. reissued a “buy” rating and set a $12.00 target price on shares of ON Semiconductor Corp. in a research note on Friday, June 17th. Finally, Longbow Research raised ON Semiconductor Corp. from a “neutral” rating to a “buy” rating and set a $14.00 target price for the company in a research note on Wednesday, August 24th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and seventeen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $13.41.
Shares of ON Semiconductor Corp. (NASDAQ:ON) traded up 0.52% during midday trading on Tuesday, hitting $11.58. The company had a trading volume of 9,069,871 shares. The firm has a market capitalization of $4.81 billion, a PE ratio of 29.69 and a beta of 1.64. ON Semiconductor Corp. has a 12 month low of $6.97 and a 12 month high of $12.00. The company has a 50-day moving average of $10.50 and a 200 day moving average of $9.71.

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ON Semiconductor Corp. (NASDAQ:ON) last announced its quarterly earnings data on Monday, August 8th. The company reported $0.21 EPS for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.02. ON Semiconductor Corp. had a return on equity of 20.14% and a net margin of 4.70%. The firm had revenue of $877.80 million for the quarter, compared to the consensus estimate of $854.55 million. During the same quarter last year, the business posted $0.22 earnings per share. The firm’s revenue was down .3% compared to the same quarter last year. On average, analysts expect that ON Semiconductor Corp. will post $0.84 EPS for the current fiscal year.
In other news, VP Paul E. Rolls sold 15,000 shares of the business’s stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $11.25, for a total value of $168,750.00. Following the completion of the sale, the vice president now directly owns 277,202 shares of the company’s stock, valued at approximately $3,118,522.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.60% of the company’s stock.
Several hedge funds have recently bought and sold shares of ON. Ifrah Financial Services Inc. increased its stake in ON Semiconductor Corp. by 1.2% in the second quarter. Ifrah Financial Services Inc. now owns 20,919 shares of the company’s stock valued at $185,000 after buying an additional 257 shares during the last quarter. Emerald Mutual Fund Advisers Trust increased its stake in ON Semiconductor Corp. by 2.5% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 14,642 shares of the company’s stock valued at $129,000 after buying an additional 356 shares during the last quarter. Amalgamated Bank increased its stake in ON Semiconductor Corp. by 1.4% in the second quarter. Amalgamated Bank now owns 51,432 shares of the company’s stock valued at $528,000 after buying an additional 719 shares during the last quarter. Globeflex Capital L P increased its stake in ON Semiconductor Corp. by 0.6% in the second quarter. Globeflex Capital L P now owns 159,730 shares of the company’s stock valued at $1,409,000 after buying an additional 900 shares during the last quarter. Finally, Public Employees Retirement System of Ohio increased its stake in ON Semiconductor Corp. by 0.5% in the second quarter. Public Employees Retirement System of Ohio now owns 188,747 shares of the company’s stock valued at $1,665,000 after buying an additional 906 shares during the last quarter. 94.71% of the stock is owned by institutional investors and hedge funds.
About ON Semiconductor Corp.
ON Semiconductor Corporation offers a portfolio of analog, digital and mixed signal integrated circuits (ICs), standard products, image sensors and custom devices for customers to solve their design challenges in advanced electronic systems and products. The Company operates through four segments: Application Products Group, Image Sensor Group, Standard Products Group, and System Solutions Group.

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