KeyCorp Reiterates “Hold” Rating for ON Semiconductor Corporation (ON)

KeyCorp restated their hold rating on shares of ON Semiconductor Corporation (NASDAQ:ON) in a report released on Friday morning.

Several other analysts have also recently commented on the stock. B. Riley reissued a buy rating and set a $21.00 price target on shares of ON Semiconductor Corporation in a research note on Sunday, August 13th. BidaskClub raised shares of ON Semiconductor Corporation from a hold rating to a buy rating in a research note on Thursday, July 13th. Needham & Company LLC raised shares of ON Semiconductor Corporation from a buy rating to a strong-buy rating in a research note on Monday, August 7th. J P Morgan Chase & Co reissued a neutral rating and set a $17.00 price target (up from $16.00) on shares of ON Semiconductor Corporation in a research note on Wednesday, August 9th. Finally, Mizuho reissued an outperform rating and set a $19.00 price target (up from $18.00) on shares of ON Semiconductor Corporation in a research note on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $19.47.

ON Semiconductor Corporation (NASDAQ:ON) opened at 20.96 on Friday. The firm has a market capitalization of $8.84 billion, a P/E ratio of 30.87 and a beta of 2.01. The stock’s 50 day moving average price is $18.79 and its 200 day moving average price is $16.24. ON Semiconductor Corporation has a 12 month low of $10.74 and a 12 month high of $21.00.

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In related news, CEO Keith D. Jackson sold 476,191 shares of the firm’s stock in a transaction on Monday, October 16th. The shares were sold at an average price of $19.59, for a total transaction of $9,328,581.69. Following the sale, the chief executive officer now directly owns 3,649,468 shares in the company, valued at $71,493,078.12. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Robert A. Klosterboer sold 16,325 shares of the firm’s stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $20.23, for a total transaction of $330,254.75. Following the sale, the executive vice president now owns 409,848 shares in the company, valued at $8,291,225.04. The disclosure for this sale can be found here. Over the last quarter, insiders sold 623,007 shares of company stock worth $12,081,920. Company insiders own 1.60% of the company’s stock.

Large investors have recently modified their holdings of the stock. Bank of Montreal Can raised its holdings in shares of ON Semiconductor Corporation by 93.2% during the second quarter. Bank of Montreal Can now owns 1,840,953 shares of the semiconductor company’s stock worth $25,847,000 after acquiring an additional 888,022 shares during the period. State Board of Administration of Florida Retirement System raised its holdings in shares of ON Semiconductor Corporation by 1.3% during the second quarter. State Board of Administration of Florida Retirement System now owns 783,224 shares of the semiconductor company’s stock worth $10,996,000 after acquiring an additional 10,400 shares during the period. Wellington Management Group LLP raised its holdings in shares of ON Semiconductor Corporation by 234.5% during the first quarter. Wellington Management Group LLP now owns 688,092 shares of the semiconductor company’s stock worth $10,659,000 after acquiring an additional 482,387 shares during the period. Atwood & Palmer Inc. acquired a new stake in shares of ON Semiconductor Corporation during the second quarter worth $5,226,000. Finally, LSV Asset Management raised its holdings in shares of ON Semiconductor Corporation by 2,285.0% during the second quarter. LSV Asset Management now owns 2,761,800 shares of the semiconductor company’s stock worth $38,775,000 after acquiring an additional 2,646,000 shares during the period. Institutional investors and hedge funds own 98.05% of the company’s stock.

ON Semiconductor Corporation Company Profile

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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