Needham Believes ON Semiconductor (ON) Won’t Stop Here

In a report released today, Rajvindra Gill from Needham assigned a Buy rating to ON Semiconductor (ON), with a price target of $33.00. The company’s shares closed last Friday at $28.06, close to its 52-week high of $28.80.

According to, Gill is a 4-star analyst with an average return of 4.3% and a 59.3% success rate. Gill covers the Technology sector, focusing on stocks such as Sequans Communications S A, Smart Global Holdings, and Everspin Technologies.

ON Semiconductor has an analyst consensus of Strong Buy, with a price target consensus of $29.75, which is a 6.4% upside from current levels. In a report issued on November 2, Rosenblatt Securities also maintained a Buy rating on the stock with a $35.00 price target.

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The company has a one-year high of $28.80 and a one-year low of $8.17. Currently, ON Semiconductor has an average volume of 6.66M.

Based on the recent corporate insider activity of 71 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ON in relation to earlier this year.

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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. The Advanced Solutions Group segment designs and develops analog, mixed-signal, advanced logic, ASSPs and ASICs, Wi-Fi and power solutions for a broad base of end-users in the automotive, consumer, computing, industrial, communications, medical and aerospace/defense markets. The Intelligent Sensing Group segment includes designs and develops CMOS and CCD image sensors, as well as proximity sensors, image signal processors, single photon detectors, including SiPM and SPAD arrays, as well as actuator drivers for autofocus and image stabilization for a broad base of end-users in the automotive, industrial, consumer, wireless, medical and aerospace/defense markets.. The company was founded on August 4, 1999 and is headquartered in Phoenix, AZ.

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