Pacific Crest Reiterates a Buy Rating on ON Semi

By Ryan Adsit

In a report released yesterday, Michael McConnell from Pacific Crest reiterated a Buy rating on ON Semi (NASDAQ: ON). The company’s shares opened today at $11.39.

McConnell noted:

“We remain constructive on ON given strong resales at Asian distributors, favorable automotive commentary from peers, extending product lead times/backlog coverage and firming commodity analog pricing.”

According to, McConnell is a 4-star analyst with an average return of 8.2% and a 66.1% success rate. McConnell covers the Technology sector, focusing on stocks such as Advanced Micro Devices, Silicon Laboratories, and Skyworks Solutions.

Currently, the analyst consensus on ON Semi is Moderate Buy and the average price target is $14.46, representing a 27.0% upside.

In a report issued on November 4, MKM Partners also reiterated a Buy rating on the stock with a $15 price target.

ON Semi’s market cap is currently $4.76B and has a P/E ratio of 29.38. The company has a book value ratio of 2.7995.

Based on the recent corporate insider activity of 63 insiders, corporate insider sentiment is neutral on the stock. Most recently, in March 2016, Paul Rolls, the Exec VP Sales & Marketing of ON sold 51,194 shares for a total of $455,635.

ON Semiconductor Corp. is a supplier of silicon solutions for energy electronics, which engages in the design, manufacture, and market portfolio of semiconductor components that address the design needs of electronic systems and products. It operates through the following business segments: Application Products Group, Image Sensor Group, Standard Products Group, and System Solutions Group. The Application Products Group segment designs and develops analog, mixed-signal, and advanced logic application-specific integrated circuit and application specific standard product solutions for a broad base of end-users in the automotive, consumer electronics, computing, industrial, communications, medical and military or aerospace markets. The Image Sensor Group segment designs and develops complementary metal oxide semiconductor and charge-coupled device image sensors and image processors for a broad base of end-users in the automotive, industrial, consumer electronics, wireless, medical, and military or aerospace markets. The Standard Products Group segment offers discrete and integrated semiconductor products that perform multiple application functions, including power switching, signal conditioning, circuit protection, signal amplification and voltage reference functions. The System Solutions Group segment comprises of analog and mixed signal integrated circuits, digital signal processor, analog and digital tuners, intelligent power modules, memory and discrete semiconductors for the automotive, communications, consumer and industrial end-markets. The company was founded on August 4, 1999 and is headquartered in Phoenix, AZ.