ON Semi (ON) Receives a Buy from Needham

Needham analyst Rajvindra Gill maintained a Buy rating on ON Semi (ONResearch Report) today and set a price target of $18.00. The company’s shares closed last Thursday at $11.27.

According to TipRanks.com, Gill is a 4-star analyst with an average return of 3.4% and a 44.9% success rate. Gill covers the Consumer Goods sector, focusing on stocks such as Sequans Communications S A, Everspin Technologies, and Smart Global Holdings.

ON Semi has an analyst consensus of Moderate Buy, with a price target consensus of $21.18, a 93.2% upside from current levels. In a report issued on March 30, Citigroup also maintained a Buy rating on the stock with a $19.00 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 revenue of $1.4 billion and net profit of $56.5 million. In comparison, last year the company earned revenue of $1.5 billion and had a net profit of $166 million.

Based on the recent corporate insider activity of 80 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, 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.