Needham Sticks to Their Buy Rating for ON Semi (ON)

In a report released today, Rajvindra Gill from Needham maintained a Buy rating on ON Semi (ONResearch Report), with a price target of $27. The company’s shares opened today at $22.61.

According to TipRanks.com, Gill is a 5-star analyst with an average return of 12.4% and a 59.8% success rate. Gill covers the Consumer Goods sector, focusing on stocks such as Sequans Communications S A, Everspin Technologies Inc, and Smart Global Holdings Inc.

ON Semi has an analyst consensus of Moderate Buy, with a price target consensus of $25.38.

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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 $166 million. In comparison, last year the company had a net profit of $140 million.

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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.

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