Fintel reports that on May 17, 2023, Jefferies maintained coverage of ON Semiconductor (NASDAQ:ON) with a Buy recommendation.
Analyst Price Forecast Suggests 14.54% Upside
As of May 11, 2023, the average one-year price target for ON Semiconductor is 95.12. The forecasts range from a low of 78.78 to a high of $115.50. The average price target represents an increase of 14.54% from its latest reported closing price of 83.04.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for ON Semiconductor is 8,288MM, a decrease of 0.63%. The projected annual non-GAAP EPS is 4.66.
What is the Fund Sentiment?
There are 1781 funds or institutions reporting positions in ON Semiconductor. This is an increase of 46 owner(s) or 2.65% in the last quarter. Average portfolio weight of all funds dedicated to ON is 0.42%, an increase of 3.39%. Total shares owned by institutions increased in the last three months by 0.75% to 501,501K shares. 
The put/call ratio of ON is 1.09, indicating a bearish outlook.
What are Other Shareholders Doing?
Janus Henderson Group holds 17,249K shares representing 3.99% ownership of the company. In it's prior filing, the firm reported owning 18,255K shares, representing a decrease of 5.83%. The firm decreased its portfolio allocation in ON by 61.87% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 13,138K shares representing 3.04% ownership of the company. In it's prior filing, the firm reported owning 12,921K shares, representing an increase of 1.65%. The firm decreased its portfolio allocation in ON by 6.04% over the last quarter.
Artisan Partners Limited Partnership holds 11,681K shares representing 2.70% ownership of the company. In it's prior filing, the firm reported owning 11,074K shares, representing an increase of 5.20%. The firm increased its portfolio allocation in ON by 29.52% over the last quarter.
JAENX - Janus Henderson Enterprise Fund Class T holds 10,126K shares representing 2.34% ownership of the company. No change in the last quarter.
VIMSX - Vanguard Mid-Cap Index Fund Investor Shares holds 10,068K shares representing 2.33% ownership of the company. In it's prior filing, the firm reported owning 9,980K shares, representing an increase of 0.88%. The firm decreased its portfolio allocation in ON by 7.27% over the last quarter.
ON Semiconductor Background Information
(This description is provided by the company.)
ON Semiconductor is driving energy efficient innovations, empowering customers to reduce global energy use. The company is a leading supplier of semiconductor-based solutions, offering a comprehensive portfolio of energy efficient, power management, analog, sensors, logic, timing, connectivity, discrete, SoC and custom devices. The company's products help engineers solve their unique design challenges in automotive, communications, computing, consumer, industrial, medical, aerospace and defense applications. ON Semiconductor operates a responsive, reliable, world-class supply chain and quality program, a robust compliance and ethics program, and a network of manufacturing facilities, sales offices and design centers in key markets throughout North America, Europe and the Asia Pacific regions.
Key filings for this company:
This story originally appeared on Fintel.
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