Morgan Stanley Boosts ON Semiconductor (ON) Price Target to $20.00

ON Semiconductor (NASDAQ:ON) had its target price boosted by Morgan Stanley from $18.50 to $20.00 in a research report released on Wednesday. They currently have an equal weight rating on the semiconductor company’s stock.

ON has been the subject of several other research reports. Credit Suisse Group boosted their price objective on shares of ON Semiconductor from $14.50 to $17.00 and gave the stock an underperform rating in a research report on Tuesday, November 7th. ValuEngine cut shares of ON Semiconductor from a strong-buy rating to a buy rating in a research report on Friday, December 1st. Needham & Company LLC reiterated a buy rating and set a $25.00 target price on shares of ON Semiconductor in a research report on Monday, September 11th. BidaskClub upgraded shares of ON Semiconductor from a hold rating to a buy rating in a research report on Friday, September 1st. Finally, Robert W. Baird reiterated a buy rating and set a $20.00 target price on shares of ON Semiconductor in a research report on Thursday, August 24th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $21.39.

ON Semiconductor (NASDAQ ON) opened at $19.90 on Wednesday. The company has a quick ratio of 1.25, a current ratio of 1.97 and a debt-to-equity ratio of 1.20. ON Semiconductor has a 1 year low of $12.36 and a 1 year high of $22.15. The firm has a market cap of $8,440.82, a P/E ratio of 18.26, a P/E/G ratio of 0.75 and a beta of 2.02.

In other news, EVP George H. Cave sold 19,385 shares of the business’s stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $18.00, for a total value of $348,930.00. Following the completion of the transaction, the executive vice president now owns 308,054 shares of the company’s stock, valued at approximately $5,544,972. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Bernard Gutmann sold 20,000 shares of the business’s stock in a transaction on Monday, October 16th. The shares were sold at an average price of $19.62, for a total transaction of $392,400.00. Following the completion of the transaction, the chief financial officer now directly owns 555,248 shares of the company’s stock, valued at approximately $10,893,965.76. The disclosure for this sale can be found here. Insiders sold a total of 734,526 shares of company stock valued at $14,597,833 in the last three months. 1.60% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the company. Aperio Group LLC boosted its stake in ON Semiconductor by 6.8% in the 2nd quarter. Aperio Group LLC now owns 50,366 shares of the semiconductor company’s stock worth $707,000 after purchasing an additional 3,224 shares during the period. World Asset Management Inc boosted its stake in ON Semiconductor by 31.8% in the 2nd quarter. World Asset Management Inc now owns 20,312 shares of the semiconductor company’s stock worth $285,000 after purchasing an additional 4,898 shares during the period. Canada Pension Plan Investment Board boosted its stake in ON Semiconductor by 99.5% in the 2nd quarter. Canada Pension Plan Investment Board now owns 523,100 shares of the semiconductor company’s stock worth $7,344,000 after purchasing an additional 260,900 shares during the period. First Trust Advisors LP boosted its stake in ON Semiconductor by 34.9% in the 2nd quarter. First Trust Advisors LP now owns 1,615,598 shares of the semiconductor company’s stock worth $22,683,000 after purchasing an additional 417,891 shares during the period. Finally, Teacher Retirement System of Texas boosted its stake in ON Semiconductor by 0.4% in the 2nd quarter. Teacher Retirement System of Texas now owns 33,379 shares of the semiconductor company’s stock worth $469,000 after purchasing an additional 127 shares during the period. 99.82% of the stock is owned by institutional investors.

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ON Semiconductor 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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