Needham Reaffirms Their Buy Rating on ON Semi (ON)


Needham analyst Rajvindra Gill maintained a Buy rating on ON Semi (ON) today and set a price target of $28.00. The company’s shares closed last Monday at $15.89, close to its 52-week low of $15.51.

According to TipRanks.com, Gill is a 5-star analyst with an average return of 5.5% and a 47.1% success rate. Gill covers the Consumer Goods sector, focusing on stocks such as Sequans Communications S A, Everspin Technologies, and Smart Global Holdings.

Currently, the analyst consensus on ON Semi is a Moderate Buy with an average price target of $22.76, implying a 39.5% upside from current levels. In a report issued on March 6, B.Riley FBR also maintained a Buy rating on the stock with a $24.00 price target.

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Based on ON Semi’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $56.5 million. In comparison, last year the company had a net profit of $166 million.

Based on the recent corporate insider activity of 72 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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.

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