After Merrill Lynch and Rosenblatt Securities gave ON Semiconductor (NASDAQ: ON) a Buy rating last month, the company received another Buy, this time from Raymond James. Analyst Chris Caso maintained a Buy rating on ON Semiconductor yesterday. The company’s shares closed last Thursday at $37.04, close to its 52-week high of $42.38.
According to TipRanks.com, Caso is a 5-star analyst with an average return of 17.6% and a 57.4% success rate. Caso covers the Technology sector, focusing on stocks such as MACOM Technology Solutions Holdings, NXP Semiconductors, and Skyworks Solutions.
ON Semiconductor has an analyst consensus of Strong Buy, with a price target consensus of $41.79, a 6.0% upside from current levels. In a report issued on March 1, Merrill Lynch also upgraded the stock to Buy with a $48.00 price target.
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The company has a one-year high of $42.38 and a one-year low of $8.17. Currently, ON Semiconductor has an average volume of 7.03M.
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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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