Published On: Sat, Sep 10th, 2016

ON Semiconductor Corp.’s (ON) “Outperform” Rating Reaffirmed at Mizuho

ON Semiconductor Corp. (NASDAQ:ON)‘s stock had its “outperform” rating reissued by investment analysts at Mizuho in a report released on Friday. They presently have a $16.00 price objective on the stock. Mizuho’s price objective would suggest a potential upside of 55.95% from the company’s current price.
Several other research firms have also recently commented on ON. Zacks Investment Research cut ON Semiconductor Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, July 26th. KeyCorp restated a “buy” rating and issued a $13.00 target price on shares of ON Semiconductor Corp. in a research note on Wednesday, July 6th. B. Riley reiterated a “buy” rating and set a $15.00 price objective on shares of ON Semiconductor Corp. in a research note on Tuesday, August 9th. Credit Suisse Group AG reiterated a “buy” rating and set a $13.00 price objective on shares of ON Semiconductor Corp. in a research note on Tuesday, August 9th. Finally, Pacific Crest upgraded ON Semiconductor Corp. from a “sector weight” rating to an “overweight” rating and set a $13.00 price objective on the stock in a research note on Monday, June 13th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and eighteen have issued a buy rating to the company’s stock. ON Semiconductor Corp. presently has a consensus rating of “Buy” and a consensus target price of $12.50.
ON Semiconductor Corp. (NASDAQ:ON) opened at 10.26 on Friday. The company has a market capitalization of $4.26 billion, a PE ratio of 26.31 and a beta of 1.64. ON Semiconductor Corp. has a 12 month low of $6.97 and a 12 month high of $11.62. The company has a 50-day moving average price of $10.36 and a 200 day moving average price of $9.59.

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ON Semiconductor Corp. (NASDAQ:ON) last released its earnings results on Monday, August 8th. The company reported $0.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.02. The firm had revenue of $877.80 million for the quarter, compared to analysts’ expectations of $854.55 million. ON Semiconductor Corp. had a return on equity of 20.14% and a net margin of 4.70%. The business’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.22 EPS. On average, equities research analysts forecast that ON Semiconductor Corp. will post $0.84 EPS for the current fiscal year.
In other ON Semiconductor Corp. news, VP Paul E. Rolls sold 15,000 shares of the 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 transaction, the vice president now directly owns 277,202 shares in the company, valued at $3,118,522.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.60% of the company’s stock.
Other institutional investors have recently bought and sold shares of the company. Norges Bank purchased a new position in ON Semiconductor Corp. during the fourth quarter valued at approximately $39,331,000. Frontier Capital Management Co. LLC increased its position in ON Semiconductor Corp. by 77.7% in the fourth quarter. Frontier Capital Management Co. LLC now owns 8,241,163 shares of the company’s stock valued at $80,763,000 after buying an additional 3,602,424 shares in the last quarter. Mackay Shields increased its position in ON Semiconductor Corp. by 16.6% in the fourth quarter. Mackay Shields now owns 22,381,000 shares of the company’s stock valued at $25,020,000 after buying an additional 3,189,000 shares in the last quarter. Jericho Capital Asset Management L.P. purchased a new position in ON Semiconductor Corp. during the first quarter valued at approximately $20,484,000. Finally, Janus Capital Management increased its position in ON Semiconductor Corp. by 5.9% in the third quarter. Janus Capital Management now owns 25,777,489 shares of the company’s stock valued at $242,308,000 after buying an additional 1,424,667 shares in the last quarter. Hedge funds and other institutional investors own 94.86% of the company’s stock.
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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