Does ON Semiconductor Corp. (NASDAQ:ON) warrant a purchase right now? What to Consider Before Making a Decision

ON Semiconductor Corp. (NASDAQ:ON) shares traded -0.82% lower at $66.25 on Wall Street last session.

In accordance with the data, 31 analysts cover ON Semiconductor Corp. (NASDAQ:ON). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $119.80 and a low of $60.00, we find $90.00. Given the previous closing price of $66.80, this indicates a potential upside of 34.73 percent. ON stock price is now -25.33% away from the 50-day moving average and -23.37% away from the 200-day moving average. The market capitalization of the company currently stands at $28.53B.

It has been rated a hold by 12 analysts and a buy by 17. Brokers who have rated the stock have averaged $87.91 as their price target over the next twelve months.

With the price target reduced from $120 to $60, Robert W. Baird Downgraded its rating from Outperform to Neutral for ON Semiconductor Corp. (NASDAQ: ON).

In other news, COLPITTS BERNARD RAYMOND JR, Chief Accounting Officer sold 1,005 shares of the company’s stock on Sep 12. The stock was sold for $97,103 at an average price of $96.62. Upon completion of the transaction, the Chief Accounting Officer now directly owns 31,045 shares in the company, valued at $2.06 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 11, Chief Accounting Officer COLPITTS BERNARD RAYMOND JR sold 2,795 shares of the business’s stock. A total of $277,208 was realized by selling the stock at an average price of $99.18. This leaves the insider owning 32,050 shares of the company worth $2.12 million. Insiders disposed of 462,640 shares of company stock worth roughly $30.65 million over the past 1 year. A total of 0.43% of the company’s stock is owned by insiders.

ON Semiconductor Corp. (NASDAQ: ON) opened at $66.77 on Wednesday. During the past 12 months, ON Semiconductor Corp. has had a low of $59.61 and a high of $111.35. As of last week, the company has a debt-to-equity ratio of 0.50, a current ratio of 2.44, and a quick ratio of 1.60. According to the stock market information, the enterprise value for the company is $29.34B, which is based on a 13.36 price-to-earnings ratio, a 2.89 price-to-earnings-growth ratio, and a beta of 1.83. The fifty day moving average price for ON is $88.72 and a two-hundred day moving average price translates $86.46 for the stock.

The latest earnings results from ON Semiconductor Corp. (NASDAQ: ON) was released for Sep, 2023. According to the Semiconductors Company, earnings per share came in at $1.33, beating analysts’ expectations of $1.21 by 0.12. This compares to $0.70 EPS in the same period last year. The net profit margin was 26.69% and return on equity was 33.87% for ON. The company reported revenue of $2.18 billion for the quarter, compared to $2.19 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -0.54 percent. For the current quarter, analysts expect ON to generate $2.15B in revenue.

ON Semiconductor Corp.(ON) Company Profile

ON Semiconductor Corporation provides intelligent sensing and power solutions in the United States and internationally. The company operates through three segments: Power Solutions Group, Advanced Solutions Group, and Intelligent Sensing Group. Its intelligent power technologies enable the electrification of the automotive industry that allows for lighter and longer-range electric vehicles, empowers fast-charging systems, and propels sustainable energy for the solar strings, industrial power, and storage systems. The company offers analog, discrete, module, and integrated semiconductor products that perform multiple application functions, includes power switching and conversion, signal conditioning, circuit protection, signal amplification, and voltage regulation functions. The company also designs and develops analog, mixed-signal, advanced logic, application specific standard product and ASICs, radio frequency, and integrated power solutions for end-users in end-markets, as well as provides foundry and design services for government customers. In addition, it develops complementary metal oxide semiconductor image sensors, image signal processors, and single photon detectors, include silicon photomultipliers and single photon avalanche diode arrays, as well as actuator drivers for autofocus and image stabilization for a broad base of end-users in various end-markets. ON Semiconductor Corporation was incorporated in 1992 and is headquartered in Scottsdale, Arizona.

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