ON Semiconductor Co. (NASDAQ:ON) – Equities research analysts at KeyCorp boosted their Q2 2022 earnings per share (EPS) estimates for ON Semiconductor in a report issued on Tuesday, December 7th. KeyCorp analyst J. Vinh now forecasts that the semiconductor company will post earnings of $0.85 per share for the quarter, up from their prior forecast of $0.82. KeyCorp currently has a “Overweight” rating and a $72.00 target price on the stock. KeyCorp also issued estimates for ON Semiconductor’s Q3 2022 earnings at $0.86 EPS, Q4 2022 earnings at $0.87 EPS and FY2022 earnings at $3.40 EPS.
A number of other equities analysts have also issued reports on ON. Jefferies Financial Group increased their price target on ON Semiconductor from $53.00 to $63.00 and gave the company a “buy” rating in a research note on Tuesday, November 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $60.00 price target on shares of ON Semiconductor in a research note on Thursday, August 26th. Stifel Nicolaus began coverage on ON Semiconductor in a research note on Thursday, October 14th. They set a “hold” rating and a $45.00 price objective for the company. Craig Hallum raised their price objective on ON Semiconductor from $52.00 to $64.00 and gave the stock a “buy” rating in a research note on Tuesday, November 2nd. Finally, Raymond James raised their price objective on ON Semiconductor from $60.00 to $68.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 2nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, ON Semiconductor presently has a consensus rating of “Buy” and an average price target of $56.84.
ON opened at $64.24 on Thursday. ON Semiconductor has a 12 month low of $30.20 and a 12 month high of $66.79. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.52 and a quick ratio of 1.60. The stock has a market cap of $27.68 billion, a P/E ratio of 41.99 and a beta of 1.74. The stock’s 50 day moving average price is $53.82 and its 200 day moving average price is $45.69. ON Semiconductor (NASDAQ:ON) last announced its quarterly earnings results on Sunday, October 31st. The semiconductor company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.13. ON Semiconductor had a return on equity of 25.19% and a net margin of 10.61%. The business had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same period in the prior year, the firm earned $0.27 EPS. The business’s quarterly revenue was up 32.2% on a year-over-year basis.
A number of hedge funds have recently added to or reduced their stakes in ON. Breakline Capital LLC acquired a new stake in ON Semiconductor during the second quarter valued at approximately $1,501,000. Commonwealth Equity Services LLC boosted its holdings in ON Semiconductor by 55.6% during the second quarter. Commonwealth Equity Services LLC now owns 34,944 shares of the semiconductor company’s stock valued at $1,337,000 after purchasing an additional 12,482 shares in the last quarter. AlphaCrest Capital Management LLC boosted its holdings in ON Semiconductor by 430.6% during the second quarter. AlphaCrest Capital Management LLC now owns 60,027 shares of the semiconductor company’s stock valued at $2,298,000 after purchasing an additional 48,715 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in ON Semiconductor by 11.3% during the second quarter. Public Employees Retirement System of Ohio now owns 247,597 shares of the semiconductor company’s stock valued at $9,478,000 after purchasing an additional 25,133 shares in the last quarter. Finally, Cipher Capital LP acquired a new stake in ON Semiconductor during the second quarter valued at approximately $1,576,000. 90.10% of the stock is currently owned by institutional investors and hedge funds.
In other news, EVP Simon Keeton sold 4,352 shares of the firm’s stock in a transaction dated Tuesday, November 2nd. The stock was sold at an average price of $55.81, for a total value of $242,885.12. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.42% of the company’s stock.
ON Semiconductor Company Profile
ON Semiconductor Corp. engages in the design, manufacture, and marketing of portfolio of semiconductor components. It operates through the following segments: Power Solutions Group, Advanced Solutions Group, and Intelligent Sensing Group. The Power Solutions Group segment offers discrete, module, and semiconductor products that perform multiple application functions, including power switching, power conversion, signal conditioning, circuit protection, signal amplification, and voltage reference functions.
Further Reading: Balance Sheet
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