ON (NYSE:ONON) Given New $50.00 Price Target at Needham & Company LLC

ON (NYSE:ONON) had its target price lowered by Needham & Company LLC from $64.00 to $50.00 in a report issued on Tuesday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

ONON has been the subject of a number of other reports. KeyCorp reaffirmed an “overweight” rating and issued a $68.00 price objective on shares of ON in a research report on Wednesday, March 5th. Barclays lifted their price objective on shares of ON from $63.00 to $64.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. HSBC upgraded shares of ON from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a report on Tuesday, March 11th. Stifel Nicolaus lifted their target price on shares of ON from $60.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Finally, Hsbc Global Res upgraded shares of ON from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 11th. Three investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.45.

ON Stock Performance

Shares of ONON stock opened at $42.69 on Tuesday. ON has a 52-week low of $29.84 and a 52-week high of $64.05. The stock has a market cap of $26.88 billion, a price-to-earnings ratio of 99.28, a PEG ratio of 1.02 and a beta of 2.35. The firm’s 50-day moving average is $51.85 and its 200-day moving average is $52.68.

Institutional Trading of ON

Large investors have recently made changes to their positions in the company. Apollon Wealth Management LLC boosted its holdings in shares of ON by 74.0% in the 4th quarter. Apollon Wealth Management LLC now owns 16,005 shares of the company’s stock valued at $877,000 after purchasing an additional 6,808 shares in the last quarter. RB Capital Management LLC boosted its stake in ON by 214.8% in the third quarter. RB Capital Management LLC now owns 22,426 shares of the company’s stock valued at $1,125,000 after buying an additional 15,303 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in ON by 34.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,376,850 shares of the company’s stock valued at $76,213,000 after acquiring an additional 349,789 shares during the last quarter. Strategic Financial Concepts LLC acquired a new position in ON during the fourth quarter worth about $30,000. Finally, Y Intercept Hong Kong Ltd lifted its holdings in shares of ON by 584.8% in the third quarter. Y Intercept Hong Kong Ltd now owns 83,651 shares of the company’s stock worth $4,195,000 after acquiring an additional 71,436 shares during the last quarter. Institutional investors and hedge funds own 36.39% of the company’s stock.

About ON

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, and all-day activities. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own high-end stores.