ON Semiconductor (NASDAQ:ON) Trading Up 6.3% – Here’s Why

ON Semiconductor Corporation (NASDAQ:ON)’s stock price shot up 6.3% during trading on Wednesday . The stock traded as high as $54.76 and last traded at $54.6980. 1,903,928 shares were traded during mid-day trading, a decline of 80% from the average session volume of 9,496,953 shares. The stock had previously closed at $51.48.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Benchmark reiterated a “buy” rating on shares of ON Semiconductor in a research note on Tuesday, November 4th. Weiss Ratings upgraded ON Semiconductor from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday. TD Cowen boosted their price target on ON Semiconductor from $55.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. UBS Group raised their price objective on shares of ON Semiconductor from $50.00 to $55.00 and gave the stock a “neutral” rating in a research note on Monday, October 27th. Finally, Bank of America decreased their target price on shares of ON Semiconductor from $56.00 to $52.00 and set a “neutral” rating for the company in a research note on Friday, September 5th. Fourteen research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. According to MarketBeat.com, ON Semiconductor has a consensus rating of “Hold” and a consensus target price of $59.12.

ON Semiconductor Trading Down 4.1%

The firm has a market capitalization of $22.05 billion, a price-to-earnings ratio of 71.16, a P/E/G ratio of 3.06 and a beta of 1.57. The company has a debt-to-equity ratio of 0.43, a quick ratio of 3.54 and a current ratio of 5.23. The company has a 50 day moving average price of $49.85 and a two-hundred day moving average price of $50.92.

ON Semiconductor (NASDAQ:ON) last issued its quarterly earnings results on Monday, November 3rd. The semiconductor company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.59 by $0.04. The company had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.52 billion. ON Semiconductor had a net margin of 5.16% and a return on equity of 13.60%. The firm’s revenue was down 12.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.99 EPS. ON Semiconductor has set its Q4 2025 guidance at 0.570-0.670 EPS. On average, research analysts forecast that ON Semiconductor Corporation will post 2.6 EPS for the current year.

ON Semiconductor declared that its Board of Directors has authorized a share buyback plan on Tuesday, November 18th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 32.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Transactions at ON Semiconductor

In other ON Semiconductor news, CFO Trent Thad sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $55.05, for a total transaction of $1,101,000.00. Following the completion of the sale, the chief financial officer directly owned 379,448 shares in the company, valued at approximately $20,888,612.40. The trade was a 5.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On ON Semiconductor

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank purchased a new position in ON Semiconductor in the 2nd quarter valued at $228,835,000. Two Sigma Investments LP lifted its stake in shares of ON Semiconductor by 636.1% in the third quarter. Two Sigma Investments LP now owns 3,749,751 shares of the semiconductor company’s stock worth $184,900,000 after buying an additional 3,240,375 shares in the last quarter. Rafferty Asset Management LLC lifted its stake in shares of ON Semiconductor by 55.0% in the second quarter. Rafferty Asset Management LLC now owns 5,837,502 shares of the semiconductor company’s stock worth $305,943,000 after buying an additional 2,072,125 shares in the last quarter. M&G PLC boosted its position in ON Semiconductor by 164.2% during the second quarter. M&G PLC now owns 2,459,104 shares of the semiconductor company’s stock worth $127,873,000 after acquiring an additional 1,528,311 shares during the last quarter. Finally, Alliancebernstein L.P. grew its stake in ON Semiconductor by 312.8% during the 2nd quarter. Alliancebernstein L.P. now owns 2,011,077 shares of the semiconductor company’s stock valued at $105,401,000 after acquiring an additional 1,523,866 shares in the last quarter. Hedge funds and other institutional investors own 97.70% of the company’s stock.

ON Semiconductor Company Profile

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.