ON Semiconductor (ON) Receives a Rating Update from a Top Analyst

In a report released today, Kevin Cassidy from Rosenblatt Securities maintained a Buy rating on ON Semiconductor (ONResearch Report), with a price target of $44.00. The company’s shares closed last Monday at $37.30.

According to TipRanks.com, Cassidy is a top 100 analyst with an average return of 26.8% and a 71.7% success rate. Cassidy covers the Technology sector, focusing on stocks such as Smart Global Holdings, Skyworks Solutions, and Western Digital.

ON Semiconductor has an analyst consensus of Strong Buy, with a price target consensus of $45.00.

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Based on ON Semiconductor’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.45 billion and net profit of $89 million. In comparison, last year the company earned revenue of $1.4 billion and had a net profit of $56.5 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, 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.