ON Semiconductor (NASDAQ:ON) Lifted to “Hold” at ValuEngine

ValuEngine upgraded shares of ON Semiconductor (NASDAQ:ON) from a sell rating to a hold rating in a report issued on Monday, February 4th.

Several other equities analysts have also issued reports on the company. Robert W. Baird reaffirmed a buy rating on shares of ON Semiconductor in a report on Monday, February 4th. Zacks Investment Research raised ON Semiconductor from a sell rating to a hold rating in a report on Monday, January 28th. BidaskClub raised ON Semiconductor from a strong sell rating to a sell rating in a report on Saturday, January 12th. BMO Capital Markets assumed coverage on ON Semiconductor in a report on Monday, November 12th. They set a market perform rating and a $20.00 price target on the stock. Finally, Morgan Stanley lowered their price target on ON Semiconductor from $18.50 to $14.50 and set an underweight rating on the stock in a report on Tuesday, October 30th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. ON Semiconductor currently has a consensus rating of Hold and a consensus target price of $24.42.

Shares of ON stock opened at $21.67 on Monday. The stock has a market cap of $9.36 billion, a price-to-earnings ratio of 11.06, a PEG ratio of 1.11 and a beta of 2.06. ON Semiconductor has a 1 year low of $14.55 and a 1 year high of $27.10. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.44 and a current ratio of 2.16.

ON Semiconductor announced that its Board of Directors has authorized a share buyback plan on Thursday, November 15th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the semiconductor company to reacquire up to 20.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

In other news, Director Gilles Delfassy sold 2,000 shares of ON Semiconductor stock in a transaction that occurred on Friday, December 14th. The shares were sold at an average price of $17.10, for a total transaction of $34,200.00. Following the completion of the sale, the director now directly owns 37,869 shares in the company, valued at approximately $647,559.90. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Paul E. Rolls sold 31,487 shares of ON Semiconductor stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $20.00, for a total transaction of $629,740.00. The disclosure for this sale can be found here. Insiders sold a total of 84,407 shares of company stock worth $1,720,720 in the last ninety days. 1.29% of the stock is owned by corporate insiders.

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of ON Semiconductor by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 43,093,027 shares of the semiconductor company’s stock valued at $794,204,000 after acquiring an additional 411,056 shares during the period. Vanguard Group Inc lifted its position in shares of ON Semiconductor by 1.0% during the 3rd quarter. Vanguard Group Inc now owns 43,093,027 shares of the semiconductor company’s stock valued at $794,204,000 after acquiring an additional 411,056 shares during the period. CFO4Life Group LLC lifted its position in shares of ON Semiconductor by 8.6% during the 4th quarter. CFO4Life Group LLC now owns 29,183 shares of the semiconductor company’s stock valued at $482,000 after acquiring an additional 2,316 shares during the period. Royal London Asset Management Ltd. raised its position in shares of ON Semiconductor by 145.1% during the 3rd quarter. Royal London Asset Management Ltd. now owns 166,165 shares of the semiconductor company’s stock worth $3,063,000 after purchasing an additional 98,371 shares during the last quarter. Finally, Caption Management LLC acquired a new position in shares of ON Semiconductor during the 4th quarter worth approximately $1,320,000. Institutional investors own 88.38% of the company’s stock.

ON Semiconductor Company Profile

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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