Vetr Inc. Downgrades ON Semiconductor Corp. (ON) to Hold
ON Semiconductor Corp. (NASDAQ:ON) was downgraded by equities research analysts at Vetr from a “buy” rating to a “hold” rating in a note issued to investors on Monday. They presently have a $11.56 price objective on the stock. Vetr‘s price objective would suggest a potential upside of 0.87% from the company’s previous close.
Several other research analysts also recently commented on ON. Pacific Crest reiterated a “buy” rating and set a $16.00 target price on shares of ON Semiconductor Corp. in a research note on Thursday, October 6th. Stephens raised ON Semiconductor Corp. from an “equal weight” rating to an “overweight” rating in a report on Monday, October 3rd. Goldman Sachs Group Inc. reissued a “neutral” rating and set a $13.00 price target on shares of ON Semiconductor Corp. in a report on Wednesday, October 26th. Morgan Stanley raised ON Semiconductor Corp. from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $10.00 to $12.00 in a report on Thursday, September 22nd. Finally, B. Riley reissued a “buy” rating and set a $16.00 price target on shares of ON Semiconductor Corp. in a report on Sunday, September 25th. Seven research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $13.59.
Shares of ON Semiconductor Corp. (NASDAQ:ON) traded up 2.69% during mid-day trading on Monday, reaching $11.47. The company’s stock had a trading volume of 6,285,491 shares. ON Semiconductor Corp. has a 52-week low of $6.97 and a 52-week high of $12.69. The firm has a market cap of $4.78 billion, a price-to-earnings ratio of 38.23 and a beta of 2.00. The firm has a 50 day moving average price of $11.67 and a 200 day moving average price of $10.43.
In other ON Semiconductor Corp. news, Director Paul Anthony Mascarenas acquired 2,500 shares of the company’s stock in a transaction dated Thursday, November 10th. The shares were bought at an average cost of $11.30 per share, with a total value of $28,250.00. Following the purchase, the director now directly owns 55,028 shares of the company’s stock, valued at $621,816.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Paul E. Rolls sold 5,246 shares of the business’s stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $12.00, for a total value of $62,952.00. Following the completion of the transaction, the vice president now directly owns 267,202 shares in the company, valued at $3,206,424. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA increased its position in shares of ON Semiconductor Corp. by 269.6% in the third quarter. BNP Paribas Arbitrage SA now owns 8,330 shares of the company’s stock worth $103,000 after buying an additional 6,076 shares in the last quarter. LPL Financial LLC acquired a new position in shares of ON Semiconductor Corp. during the third quarter worth about $124,000. Scout Investments Inc. acquired a new position in shares of ON Semiconductor Corp. during the third quarter worth about $134,000. Acrospire Investment Management LLC increased its position in shares of ON Semiconductor Corp. by 36.0% in the second quarter. Acrospire Investment Management LLC now owns 11,700 shares of the company’s stock worth $103,000 after buying an additional 3,100 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of ON Semiconductor Corp. by 12.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,344 shares of the company’s stock worth $164,000 after buying an additional 1,519 shares in the last quarter. 99.15% of the stock is currently owned by institutional investors.
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.
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