ON Semiconductor (ON) Downgraded by BidaskClub to Strong Sell

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ON Semiconductor (NASDAQ:ON) was downgraded by stock analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Tuesday.

A number of other analysts also recently weighed in on ON. Zacks Investment Research downgraded shares of ON Semiconductor from a “hold” rating to a “sell” rating in a research report on Wednesday, April 25th. JPMorgan Chase & Co. increased their target price on shares of ON Semiconductor from $23.00 to $24.00 and gave the company a “neutral” rating in a research report on Tuesday, May 1st. ValuEngine downgraded shares of ON Semiconductor from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 2nd. Craig Hallum increased their target price on shares of ON Semiconductor from $28.00 to $31.00 and gave the company a “buy” rating in a research report on Tuesday, June 5th. Finally, Nomura initiated coverage on shares of ON Semiconductor in a research report on Wednesday, July 18th. They set a “buy” rating and a $30.00 target price for the company. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. ON Semiconductor presently has an average rating of “Hold” and a consensus price target of $25.74.

ON Semiconductor stock opened at $20.34 on Tuesday. ON Semiconductor has a 1 year low of $15.66 and a 1 year high of $27.10. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.54 and a quick ratio of 0.91. The company has a market capitalization of $9.10 billion, a PE ratio of 13.93, a PEG ratio of 0.88 and a beta of 2.06.

ON Semiconductor (NASDAQ:ON) last released its quarterly earnings data on Sunday, July 29th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.01. The company had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.43 billion. ON Semiconductor had a return on equity of 24.14% and a net margin of 16.66%. sell-side analysts predict that ON Semiconductor will post 1.84 EPS for the current fiscal year.

In related news, insider Bernard Raymond Colpitts, Jr. sold 1,214 shares of the stock in a transaction on Monday, August 13th. The stock was sold at an average price of $21.44, for a total value of $26,028.16. Following the transaction, the insider now directly owns 18,357 shares in the company, valued at approximately $393,574.08. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Keith D. Jackson sold 80,000 shares of the stock in a transaction on Wednesday, May 23rd. The stock was sold at an average price of $23.99, for a total value of $1,919,200.00. Following the completion of the transaction, the chief executive officer now owns 3,107,401 shares in the company, valued at $74,546,549.99. The disclosure for this sale can be found here. Insiders have sold a total of 86,214 shares of company stock worth $2,075,228 over the last 90 days. Company insiders own 1.29% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of ON. LS Investment Advisors LLC purchased a new stake in ON Semiconductor in the 2nd quarter valued at $109,000. Point72 Asia Hong Kong Ltd raised its position in ON Semiconductor by 9,749.0% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 4,826 shares of the semiconductor company’s stock valued at $118,000 after buying an additional 4,777 shares during the last quarter. Psagot Investment House Ltd. purchased a new stake in ON Semiconductor in the 2nd quarter valued at $123,000. Cerebellum GP LLC purchased a new stake in ON Semiconductor in the 2nd quarter valued at $170,000. Finally, Focused Wealth Management Inc purchased a new stake in ON Semiconductor in the 1st quarter valued at $181,000. Institutional investors own 91.00% of the company’s stock.

ON Semiconductor Company Profile

ON Semiconductor Corporation manufactures and sells semiconductor components for various electronic devices worldwide. It operates through three segments: Power Solutions Group, Analog Solutions Group, and Image Sensor Group. The Power Solutions Group segment offers discrete, module, and integrated semiconductor products for various applications, such as power switching, power conversion, signal conditioning, circuit protection, signal amplification, and voltage reference.

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Analyst Recommendations for ON Semiconductor (NASDAQ:ON)

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