ON Semiconductor Corporation (ON) Receives Average Recommendation of “Buy” from Brokerages

Shares of ON Semiconductor Corporation (NASDAQ:ON) have received an average recommendation of “Buy” from the twenty-two research firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation, thirteen have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $18.77.

Several equities analysts have commented on ON shares. KeyCorp reiterated a “hold” rating on shares of ON Semiconductor Corporation in a research report on Tuesday, September 12th. B. Riley increased their target price on ON Semiconductor Corporation from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Monday, August 7th. Mizuho reiterated an “outperform” rating and issued a $19.00 target price (up from $18.00) on shares of ON Semiconductor Corporation in a research report on Wednesday, August 9th. BidaskClub upgraded ON Semiconductor Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Finally, Zacks Investment Research cut ON Semiconductor Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday.

ON Semiconductor Corporation (NASDAQ ON) opened at 19.38 on Wednesday. The firm’s 50-day moving average is $17.49 and its 200-day moving average is $15.73. ON Semiconductor Corporation has a 12 month low of $10.74 and a 12 month high of $19.82. The firm has a market cap of $8.17 billion, a PE ratio of 28.54 and a beta of 2.01.

In other ON Semiconductor Corporation news, EVP George H. Cave sold 15,848 shares of the firm’s stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $18.90, for a total value of $299,527.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Bernard Raymond Colpitts, Jr. sold 2,490 shares of the firm’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $16.31, for a total value of $40,611.90. Following the completion of the sale, the insider now directly owns 24,591 shares of the company’s stock, valued at $401,079.21. The disclosure for this sale can be found here. Insiders have sold 74,723 shares of company stock worth $1,336,427 over the last quarter. 1.60% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in ON. Koch Industries Inc. purchased a new position in ON Semiconductor Corporation during the second quarter worth about $432,000. Piedmont Investment Advisors LLC grew its position in ON Semiconductor Corporation by 118.9% during the second quarter. Piedmont Investment Advisors LLC now owns 87,343 shares of the semiconductor company’s stock worth $1,226,000 after buying an additional 47,442 shares in the last quarter. Krilogy Financial LLC grew its position 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 worth $230,000 after buying an additional 450 shares in the last quarter. Robecosam AG grew its position in ON Semiconductor Corporation by 198.5% during the second quarter. Robecosam AG now owns 609,000 shares of the semiconductor company’s stock worth $8,660,000 after buying an additional 405,000 shares in the last quarter. Finally, Sterling Capital Management LLC grew its position in ON Semiconductor Corporation by 3.5% during the second quarter. Sterling Capital Management LLC now owns 1,673,704 shares of the semiconductor company’s stock worth $23,499,000 after buying an additional 56,664 shares in the last quarter. Institutional investors own 98.07% of the company’s stock.

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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.

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