Needham issues “Buy” Rating on ON Semiconductor Corp (ON)

ON Semiconductor Corp (ON) was Reiterated by Needham to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 20 from a previous price target of $16 . Needham advised their Clients and Investors in a research report released on Feb 14, 2017.

On the company’s financial health, ON Semiconductor Corp reported $0.24 EPS for the quarter, based on the information available during the earnings call on Nov 7, 2016. Analyst had a consensus estimate of $0.24. The company had revenue of $950.90 million for the quarter, compared to analysts expectations of $955.03 million. The company’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.23 EPS.

Several company insiders have filed Insider transactions , on Feb 10, 2017, William A. Schromm (EVP & Chief Operating Officer) sold 1,453 shares at $14.00 per share price. According to the SEC, on Jan 27, 2017, George H Cave (EVP, Gen Cnsl, CC&EO, & Sec) sold 5,000 shares at $13.76 per share price. On Jan 13, 2017, William Hall (EVP & GM, Pwr Sol Grp) sold 32,530 shares at $13.50 per share price, according to the Form-4 filing with the securities and exchange commission.

ON Semiconductor Corp opened for trading at $14 and hit $14.22 on the upside on Friday, eventually ending the session at $14.14, with a gain of 1.29% or 0.18 points. The heightened volatility saw the trading volume jump to 71,56,947 shares. Company has a market cap of $5,896 M.

ON Semiconductor Corporation offers a portfolio of analog digital and mixed signal ICs image sensors and custom devices for customers to solve their design challenges in electronic systems and products. The company operates through four segments: Application Products Group designs and develops analog mixed-signal and logic ASIC and ASSP solutions for end-users in the automotive consumer electronics computing industrial communications medical and military/aerospace markets. Image Sensor Group designs and develops CMOS and CCD image sensors and image processors for end-users in the automotive industrial consumer electronics wireless medical and military/aerospace markets. Standard Products Group offers discrete and integrated semiconductor products that perform multiple application functions. System Solutions Group designs and develops analog and mixed signal ICs DSPs analog and digital tuners intelligent power modules memory and discrete semiconductors.

ON Semiconductor Corp

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