ON Semiconductor Corporation (ON) Receives “Buy” Rating from Bank of America Corporation

Bank of America Corporation restated their buy rating on shares of ON Semiconductor Corporation (NASDAQ:ON) in a research note released on Monday morning. Bank of America Corporation currently has a $25.00 price objective on the semiconductor company’s stock.

A number of other research analysts have also recently issued reports on ON. Credit Suisse Group lifted their price objective on shares of ON Semiconductor Corporation from $14.50 to $17.00 and gave the company an underperform rating in a report on Tuesday, November 7th. Needham & Company LLC reiterated a buy rating and set a $25.00 price objective on shares of ON Semiconductor Corporation in a report on Monday, September 11th. BidaskClub upgraded shares of ON Semiconductor Corporation from a hold rating to a buy rating in a report on Friday, September 1st. Robert W. Baird reiterated a buy rating and set a $20.00 price objective on shares of ON Semiconductor Corporation in a report on Thursday, August 24th. Finally, The Goldman Sachs Group, Inc. cut shares of ON Semiconductor Corporation from a buy rating to a neutral rating and set a $18.00 price objective for the company. in a report on Tuesday, September 12th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. ON Semiconductor Corporation has an average rating of Buy and an average price target of $21.23.

ON Semiconductor Corporation (NASDAQ ON) traded up $0.29 during trading hours on Monday, reaching $21.39. 4,276,100 shares of the company’s stock were exchanged, compared to its average volume of 6,228,788. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.97 and a quick ratio of 1.25. The firm has a market capitalization of $9,110.00, a PE ratio of 19.36, a price-to-earnings-growth ratio of 0.80 and a beta of 2.06. ON Semiconductor Corporation has a 1-year low of $10.85 and a 1-year high of $22.03.

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In other news, insider Bernard Raymond Colpitts, Jr. sold 2,058 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $16.80, for a total value of $34,574.40. Following the sale, the insider now owns 22,533 shares of the company’s stock, valued at $378,554.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Daryl Ostrander sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $16.78, for a total transaction of $33,560.00. Following the completion of the sale, the director now directly owns 65,458 shares in the company, valued at approximately $1,098,385.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 702,820 shares of company stock worth $13,829,322. Insiders own 1.60% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of ON. Teacher Retirement System of Texas grew its stake in ON Semiconductor Corporation by 0.4% during the second quarter. Teacher Retirement System of Texas now owns 33,379 shares of the semiconductor company’s stock valued at $469,000 after acquiring an additional 127 shares in the last quarter. Chase Investment Counsel Corp grew its stake in ON Semiconductor Corporation by 0.3% during the second quarter. Chase Investment Counsel Corp now owns 91,155 shares of the semiconductor company’s stock valued at $1,279,000 after acquiring an additional 254 shares in the last quarter. Numeric Investors LLC grew its stake in ON Semiconductor Corporation by 0.3% during the second quarter. Numeric Investors LLC now owns 89,300 shares of the semiconductor company’s stock valued at $1,254,000 after acquiring an additional 300 shares in the last quarter. Krilogy Financial LLC grew its stake in ON Semiconductor Corporation by 2.8% during the second quarter. Krilogy Financial LLC now owns 16,400 shares of the semiconductor company’s stock valued at $230,000 after acquiring an additional 450 shares in the last quarter. Finally, Hillsdale Investment Management Inc. grew its stake in ON Semiconductor Corporation by 2.3% during the second quarter. Hillsdale Investment Management Inc. now owns 21,170 shares of the semiconductor company’s stock valued at $298,000 after acquiring an additional 470 shares in the last quarter. 96.09% of the stock is currently owned by institutional investors.

About ON Semiconductor Corporation

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 Corporation (NASDAQ:ON)

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