B. Riley reiterated their buy rating on shares of ON Semiconductor (NASDAQ:ON) in a research report released on Monday morning. They currently have a $30.00 target price on the semiconductor company’s stock, up from their previous target price of $27.00.

Several other brokerages also recently weighed in on ON. BidaskClub raised shares of ON Semiconductor from a hold rating to a buy rating in a report on Thursday, February 14th. Robert W. Baird downgraded shares of ON Semiconductor from an outperform rating to a neutral rating in a report on Wednesday, February 27th. Cowen started coverage on shares of ON Semiconductor in a report on Friday, February 22nd. They issued an outperform rating for the company. Needham & Company LLC reaffirmed a buy rating and issued a $27.00 target price on shares of ON Semiconductor in a report on Monday. Finally, BMO Capital Markets raised shares of ON Semiconductor from a market perform rating to an outperform rating and upped their target price for the stock from $20.00 to $30.00 in a report on Monday, March 4th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $24.73.

Shares of ON stock opened at $22.06 on Monday. ON Semiconductor has a 1 year low of $14.55 and a 1 year high of $26.79. The company has a quick ratio of 1.32, a current ratio of 2.16 and a debt-to-equity ratio of 0.82. The firm has a market cap of $9.21 billion, a PE ratio of 11.26, a price-to-earnings-growth ratio of 1.72 and a beta of 2.05.

ON Semiconductor announced that its Board of Directors has approved a stock repurchase program on Thursday, November 15th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to reacquire up to 20.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

In other news, Director Emmanuel T. Hernandez sold 10,000 shares of the company’s stock in a transaction dated Tuesday, February 5th. The shares were sold at an average price of $22.00, for a total transaction of $220,000.00. Following the sale, the director now directly owns 149,655 shares in the company, valued at approximately $3,292,410. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Emmanuel T. Hernandez sold 30,000 shares of the company’s stock in a transaction dated Friday, January 25th. The shares were sold at an average price of $20.01, for a total transaction of $600,300.00. Following the sale, the director now owns 159,655 shares in the company, valued at $3,194,696.55. The disclosure for this sale can be found here. In the last quarter, insiders sold 60,000 shares of company stock worth $1,266,000. Corporate insiders own 1.29% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. MUFG Securities EMEA plc purchased a new stake in shares of ON Semiconductor during the 4th quarter valued at about $2,269,000. American Century Companies Inc. raised its position in shares of ON Semiconductor by 64.3% during the 4th quarter. American Century Companies Inc. now owns 818,593 shares of the semiconductor company’s stock valued at $13,515,000 after buying an additional 320,413 shares in the last quarter. Norges Bank purchased a new stake in shares of ON Semiconductor during the 4th quarter valued at about $76,075,000. Delphi Management Inc. MA raised its position in shares of ON Semiconductor by 3.8% during the 4th quarter. Delphi Management Inc. MA now owns 112,535 shares of the semiconductor company’s stock valued at $1,858,000 after buying an additional 4,129 shares in the last quarter. Finally, Nordea Investment Management AB raised its position in shares of ON Semiconductor by 17.0% during the 4th quarter. Nordea Investment Management AB now owns 1,480,677 shares of the semiconductor company’s stock valued at $24,446,000 after buying an additional 215,228 shares in the last quarter. Hedge funds and other institutional investors own 91.81% of the company’s stock.

About ON Semiconductor

ON Semiconductor Corporation manufactures and sells semiconductor components for various electronic devices worldwide. The company operates in three segments: Power Solutions Group, Analog Solutions Group, and Intelligent Sensing Group. The Power Solutions Group segment offers discrete, module, and integrated semiconductor products for various applications, such as power switching and conversion, signal conditioning, circuit protection, signal amplification, and voltage reference.

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Analyst Recommendations for ON Semiconductor (NASDAQ:ON)

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