ON Semiconductor (NASDAQ:ON) Shares Gap Down to $21.36

ON Semiconductor Corp (NASDAQ:ON) gapped down before the market opened on Tuesday . The stock had previously closed at $21.87, but opened at $21.36. ON Semiconductor shares last traded at $20.67, with a volume of 6,354,298 shares.

A number of research analysts have recently issued reports on the company. B. Riley set a $28.00 price target on ON Semiconductor and gave the company a “buy” rating in a report on Monday, October 21st. Mizuho reiterated a “buy” rating and set a $25.00 price target on shares of ON Semiconductor in a research report on Sunday, October 27th. BNP Paribas assumed coverage on ON Semiconductor in a research note on Friday, August 30th. They set an “outperform” rating on the stock. Raymond James upgraded ON Semiconductor from a “market perform” rating to a “strong-buy” rating and set a $21.00 price target on the stock in a report on Monday, August 19th. Finally, Citigroup raised their price objective on ON Semiconductor from $21.00 to $24.50 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. ON Semiconductor currently has an average rating of “Buy” and a consensus target price of $25.04.

The business has a 50 day moving average of $20.75 and a 200-day moving average of $19.48. The stock has a market cap of $8.82 billion, a PE ratio of 11.01, a price-to-earnings-growth ratio of 1.42 and a beta of 2.19. The company has a current ratio of 1.54, a quick ratio of 0.92 and a debt-to-equity ratio of 0.89.

ON Semiconductor (NASDAQ:ON) last released its quarterly earnings results on Sunday, October 27th. The semiconductor company reported $0.33 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.03). ON Semiconductor had a return on equity of 21.95% and a net margin of 5.71%. The company had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same period last year, the firm earned $0.57 earnings per share. The business’s revenue was down 10.4% compared to the same quarter last year. On average, equities research analysts anticipate that ON Semiconductor Corp will post 1.51 EPS for the current fiscal year.

In other news, Director Daryl Ostrander sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $22.14, for a total transaction of $66,420.00. Following the completion of the sale, the director now owns 93,474 shares of the company’s stock, valued at $2,069,514.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Bernard Gutmann sold 43,266 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $18.79, for a total transaction of $812,968.14. Following the sale, the chief financial officer now directly owns 700,344 shares of the company’s stock, valued at approximately $13,159,463.76. The disclosure for this sale can be found here. In the last quarter, insiders have sold 87,535 shares of company stock valued at $1,737,379. 1.40% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Engine Capital Management LP boosted its stake in ON Semiconductor by 20.9% during the 3rd quarter. Engine Capital Management LP now owns 14,871 shares of the semiconductor company’s stock valued at $288,000 after acquiring an additional 2,571 shares during the last quarter. Baker Avenue Asset Management LP increased its position in shares of ON Semiconductor by 6.3% in the 3rd quarter. Baker Avenue Asset Management LP now owns 91,698 shares of the semiconductor company’s stock worth $1,761,000 after purchasing an additional 5,420 shares during the last quarter. Quantum Capital Management increased its position in shares of ON Semiconductor by 2.8% in the 3rd quarter. Quantum Capital Management now owns 37,051 shares of the semiconductor company’s stock worth $712,000 after purchasing an additional 1,021 shares during the last quarter. California State Teachers Retirement System raised its stake in shares of ON Semiconductor by 0.3% in the 3rd quarter. California State Teachers Retirement System now owns 658,245 shares of the semiconductor company’s stock valued at $12,645,000 after purchasing an additional 2,256 shares in the last quarter. Finally, Pictet Asset Management Ltd. raised its stake in shares of ON Semiconductor by 4.8% in the 3rd quarter. Pictet Asset Management Ltd. now owns 11,983,810 shares of the semiconductor company’s stock valued at $230,209,000 after purchasing an additional 547,060 shares in the last quarter. 96.91% of the stock is currently owned by hedge funds and other institutional investors.

ON Semiconductor Company Profile (NASDAQ:ON)

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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