After Needham and Susquehanna gave ON Semi (NASDAQ: ON) a Buy rating last month, the company received another Buy, this time from B.Riley FBR. Analyst Craig Ellis reiterated a Buy rating on ON Semi today and set a price target of $30.00. The company’s shares closed last Monday at $24.99, close to its 52-week high of $25.92.
According to TipRanks.com, Ellis is a 5-star analyst with an average return of 9.1% and a 60.4% success rate. Ellis covers the Consumer Goods sector, focusing on stocks such as Axcelis Technologies, Skyworks Solutions, and Applied Materials.
Currently, the analyst consensus on ON Semi is a Moderate Buy with an average price target of $25.86, implying a -0.2% downside from current levels. In a report issued on January 16, Mizuho Securities also maintained a Buy rating on the stock with a $28.00 price target.
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Based on ON Semi’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $60.7 million. In comparison, last year the company had a net profit of $166 million.
Based on the recent corporate insider activity of 83 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, Analog Solutions Group, and Intelligent Sensing Group.