ON Semiconductor Corp (NASDAQ:ON) – Equities researchers at B. Riley lifted their FY2018 EPS estimates for ON Semiconductor in a note issued to investors on Monday, July 30th. B. Riley analyst C. Ellis now forecasts that the semiconductor company will post earnings per share of $1.90 for the year, up from their previous estimate of $1.80. B. Riley has a “Buy” rating and a $30.00 price target on the stock. B. Riley also issued estimates for ON Semiconductor’s Q4 2018 earnings at $0.52 EPS, Q1 2019 earnings at $0.46 EPS, Q2 2019 earnings at $0.52 EPS, Q3 2019 earnings at $0.58 EPS, Q4 2019 earnings at $0.55 EPS, FY2019 earnings at $2.12 EPS, Q1 2020 earnings at $0.53 EPS, Q2 2020 earnings at $0.60 EPS and FY2020 earnings at $2.37 EPS.
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ON Semiconductor (NASDAQ:ON) last posted its quarterly earnings data on Sunday, July 29th. The semiconductor company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. The company had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.43 billion. ON Semiconductor had a net margin of 16.66% and a return on equity of 24.14%.
A number of other research firms have also commented on ON. Craig Hallum lifted their price objective on shares of ON Semiconductor from $28.00 to $31.00 and gave the company a “buy” rating in a research note on Tuesday, June 5th. BidaskClub lowered shares of ON Semiconductor from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 8th. Nomura initiated coverage on shares of ON Semiconductor in a research note on Wednesday, July 18th. They set a “buy” rating and a $30.00 price target on the stock. Zacks Investment Research lowered shares of ON Semiconductor from a “buy” rating to a “hold” rating in a research note on Monday, April 9th. Finally, ValuEngine lowered shares of ON Semiconductor from a “buy” rating to a “hold” rating in a research note on Monday, July 2nd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $25.82.
NASDAQ ON opened at $22.17 on Thursday. The company has a current ratio of 1.54, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $9.40 billion, a price-to-earnings ratio of 15.18, a price-to-earnings-growth ratio of 0.91 and a beta of 2.07. ON Semiconductor has a one year low of $14.60 and a one year high of $27.10.
In other ON Semiconductor news, EVP George H. Cave sold 15,000 shares of the company’s stock in a transaction dated Thursday, May 10th. The shares were sold at an average price of $23.51, for a total transaction of $352,650.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP William Hall sold 25,179 shares of the company’s stock in a transaction dated Tuesday, May 15th. The stock was sold at an average price of $23.65, for a total transaction of $595,483.35. Following the transaction, the executive vice president now owns 375,391 shares in the company, valued at $8,877,997.15. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 127,929 shares of company stock worth $3,062,646. Company insiders own 1.60% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Bank of Montreal Can purchased a new stake in shares of ON Semiconductor in the second quarter valued at about $216,682,000. LSV Asset Management lifted its holdings in shares of ON Semiconductor by 11.4% in the first quarter. LSV Asset Management now owns 8,085,228 shares of the semiconductor company’s stock valued at $197,764,000 after purchasing an additional 829,500 shares in the last quarter. Blue Harbour Group L.P. lifted its holdings in shares of ON Semiconductor by 114.4% in the first quarter. Blue Harbour Group L.P. now owns 5,508,908 shares of the semiconductor company’s stock valued at $134,748,000 after purchasing an additional 2,938,900 shares in the last quarter. TCW Group Inc. lifted its holdings in shares of ON Semiconductor by 2.9% in the second quarter. TCW Group Inc. now owns 5,109,154 shares of the semiconductor company’s stock valued at $113,602,000 after purchasing an additional 142,020 shares in the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD lifted its holdings in shares of ON Semiconductor by 0.5% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 4,914,735 shares of the semiconductor company’s stock valued at $109,279,000 after purchasing an additional 24,040 shares in the last quarter. Institutional investors own 90.87% of the company’s stock.
About ON Semiconductor
ON Semiconductor Corporation manufactures and sells semiconductor components for various electronic devices worldwide. It operates through three segments: Power Solutions Group, Analog Solutions Group, and Image Sensor Group. The Power Solutions Group segment offers discrete, module, and integrated semiconductor products for various applications, such as power switching, power conversion, signal conditioning, circuit protection, signal amplification, and voltage reference.
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