Zacks Investment Research downgraded shares of ON Semiconductor Corp. (NASDAQ:ON) from a buy rating to a hold rating in a research report report published on Monday morning.

According to Zacks, “On Semi's  third-quarter results failed to impress us. The company missed the Zacks Consensus Estimates on both lines. Earnings growth was flat despite strong revenue growth that was full offset by higher operating expenses. Nevertheless, we believe that the company’s improving end markets, completion of the Fairchild Semiconductor acquisition, product breadth, diversification across end markets and geographies, and the benefits of restructuring actions are positives. However, On Semi  has a leveraged balance sheet and faces a good bit of competition, which are concerns.”

Several other analysts also recently weighed in on ON. Credit Suisse Group AG reaffirmed a buy rating and set a $15.00 price target on shares of ON Semiconductor Corp. in a research note on Tuesday, September 20th. Deutsche Bank AG initiated coverage on shares of ON Semiconductor Corp. in a research note on Tuesday, September 20th. They set a buy rating and a $15.00 price target for the company. B. Riley reaffirmed a buy rating and set a $16.00 price target on shares of ON Semiconductor Corp. in a research note on Tuesday, September 20th. Needham & Company LLC reaffirmed a buy rating and set a $14.00 price target on shares of ON Semiconductor Corp. in a research note on Friday, September 16th. Finally, Longbow Research raised shares of ON Semiconductor Corp. from a neutral rating to a buy rating and set a $14.00 price target for the company in a research note on Wednesday, August 24th. Seven investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $13.59.

Analyst Recommendations for ON Semiconductor Corp. (NASDAQ:ON)

Shares of ON Semiconductor Corp. (NASDAQ:ON) opened at 11.47 on Monday. ON Semiconductor Corp. has a 52 week low of $6.97 and a 52 week high of $12.69. The firm’s 50-day moving average price is $11.67 and its 200 day moving average price is $10.43. The stock has a market capitalization of $4.78 billion, a P/E ratio of 38.23 and a beta of 2.00.

In related news, VP Paul E. Rolls sold 5,246 shares of the company’s stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $12.00, for a total transaction of $62,952.00. Following the completion of the transaction, the vice president now owns 267,202 shares in the company, valued at approximately $3,206,424. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Paul Anthony Mascarenas purchased 2,500 shares of ON Semiconductor Corp. stock in a transaction that occurred on Thursday, November 10th. The shares were bought at an average price of $11.30 per share, with a total value of $28,250.00. Following the transaction, the director now owns 55,028 shares in the company, valued at $621,816.40. The disclosure for this purchase can be found here. Insiders own 1.60% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Acrospire Investment Management LLC increased its position in ON Semiconductor Corp. by 36.0% in the second quarter. Acrospire Investment Management LLC now owns 11,700 shares of the company’s stock valued at $103,000 after buying an additional 3,100 shares during the period. BNP Paribas Arbitrage SA increased its position in ON Semiconductor Corp. by 269.6% in the third quarter. BNP Paribas Arbitrage SA now owns 8,330 shares of the company’s stock valued at $103,000 after buying an additional 6,076 shares during the period. American International Group Inc. increased its position in ON Semiconductor Corp. by 14.3% in the second quarter. American International Group Inc. now owns 13,435 shares of the company’s stock valued at $118,000 after buying an additional 1,682 shares during the period. LPL Financial LLC bought a new position in ON Semiconductor Corp. during the third quarter valued at $124,000. Finally, Emerald Mutual Fund Advisers Trust increased its position in ON Semiconductor Corp. by 2.5% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 14,642 shares of the company’s stock valued at $129,000 after buying an additional 356 shares during the period. Hedge funds and other institutional investors own 99.15% of the company’s stock.

ON Semiconductor Corp. Company Profile

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.

5 Day Chart for NASDAQ:ON

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