Mizuho Reaffirms “Buy” Rating for ON Semiconductor Corporation (NASDAQ:ON)

ON Semiconductor Corporation (NASDAQ:ON)‘s stock had its “buy” rating restated by analysts at Mizuho in a research note issued to investors on Monday, November 6th, Marketbeat Ratings reports. They currently have a $24.00 price target on the semiconductor company’s stock, up from their previous price target of $19.00. Mizuho’s price target would suggest a potential upside of 11.47% from the company’s previous close.

A number of other research firms have also weighed in on ON. KeyCorp reissued a “hold” rating on shares of ON Semiconductor in a report on Friday, October 27th. Citigroup Inc. set a $23.50 target price on shares of ON Semiconductor and gave the company a “buy” rating in a report on Tuesday, October 24th. Jefferies Group LLC reissued a “hold” rating and issued a $20.00 target price on shares of ON Semiconductor in a report on Thursday, October 19th. Zacks Investment Research raised shares of ON Semiconductor from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a report on Tuesday, October 17th. Finally, Robert W. Baird restated a “buy” rating and issued a $25.00 price target on shares of ON Semiconductor in a research report on Tuesday, October 17th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $21.23.

Shares of ON Semiconductor (NASDAQ:ON) traded up $0.16 on Monday, reaching $21.53. 2,192,499 shares of the company’s stock were exchanged, compared to its average volume of 6,415,008. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.25 and a current ratio of 1.97. ON Semiconductor has a twelve month low of $10.85 and a twelve month high of $22.15. The stock has a market cap of $9,064.35, a price-to-earnings ratio of 19.61, a P/E/G ratio of 0.81 and a beta of 2.06.

In related news, COO William A. Schromm sold 54,366 shares of ON Semiconductor stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $21.18, for a total value of $1,151,471.88. Following the completion of the sale, the chief operating officer now directly owns 666,815 shares in the company, valued at $14,123,141.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daryl Ostrander sold 2,000 shares of ON Semiconductor stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $16.78, for a total value of $33,560.00. Following the completion of the sale, the director now owns 65,458 shares of the company’s stock, valued at $1,098,385.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 757,186 shares of company stock valued at $14,980,794. Corporate insiders own 1.60% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in ON. Bank of Montreal Can grew its stake in ON Semiconductor by 93.2% in the second quarter. Bank of Montreal Can now owns 1,840,953 shares of the semiconductor company’s stock valued at $25,847,000 after purchasing an additional 888,022 shares during the last quarter. State Board of Administration of Florida Retirement System grew its stake in ON Semiconductor by 1.3% in the second quarter. State Board of Administration of Florida Retirement System now owns 783,224 shares of the semiconductor company’s stock valued at $10,996,000 after purchasing an additional 10,400 shares during the last quarter. SignalPoint Asset Management LLC purchased a new position in ON Semiconductor in the third quarter valued at about $739,000. Atwood & Palmer Inc. purchased a new position in ON Semiconductor in the second quarter valued at about $5,226,000. Finally, Goldman Sachs Group Inc. grew its stake in ON Semiconductor by 17.8% in the second quarter. Goldman Sachs Group Inc. now owns 1,333,089 shares of the semiconductor company’s stock valued at $18,717,000 after purchasing an additional 201,771 shares during the last quarter. Hedge funds and other institutional investors own 95.38% of the company’s stock.

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About ON Semiconductor

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.

Analyst Recommendations for ON Semiconductor (NASDAQ:ON)

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