Onsemi (NASDAQ:ON) Receives $85.87 Average PT from Analysts

Shares of Onsemi (NASDAQ:ON) have earned a consensus recommendation of “Moderate Buy” from the twenty-three ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and sixteen have given a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $85.87.

Several equities analysts have recently commented on the stock. Truist Financial lowered their price target on shares of Onsemi from $97.00 to $89.00 and set a “buy” rating on the stock in a report on Tuesday, October 29th. Benchmark reaffirmed a “buy” rating and issued a $90.00 target price on shares of Onsemi in a research report on Tuesday, October 29th. Loop Capital assumed coverage on Onsemi in a report on Monday, November 11th. They set a “buy” rating and a $95.00 price target for the company. Rosenblatt Securities restated a “neutral” rating and issued a $75.00 price objective on shares of Onsemi in a report on Tuesday, October 29th. Finally, BNP Paribas reduced their target price on shares of Onsemi from $60.00 to $55.00 in a research note on Friday, October 25th.

Onsemi Stock Up 1.1 %

Shares of Onsemi stock opened at $71.12 on Friday. The company has a current ratio of 3.07, a quick ratio of 2.02 and a debt-to-equity ratio of 0.30. Onsemi has a 1 year low of $59.34 and a 1 year high of $86.77. The stock has a 50-day moving average price of $70.17 and a 200 day moving average price of $71.79. The company has a market cap of $30.28 billion, a P/E ratio of 17.65, a P/E/G ratio of 7.54 and a beta of 1.65.

Onsemi (NASDAQ:ON) last posted its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.02. The business had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.75 billion. Onsemi had a net margin of 23.80% and a return on equity of 22.38%. The firm’s revenue was down 19.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.39 earnings per share. As a group, analysts expect that Onsemi will post 4 EPS for the current fiscal year.

Insider Activity at Onsemi

In other news, CEO Hassane El-Khoury sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $72.71, for a total transaction of $109,065.00. Following the completion of the transaction, the chief executive officer now directly owns 839,210 shares of the company’s stock, valued at approximately $61,018,959.10. This trade represents a 0.18 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 4,500 shares of company stock worth $321,765 in the last ninety days. 0.31% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ON. EP Wealth Advisors LLC raised its stake in Onsemi by 4.2% during the first quarter. EP Wealth Advisors LLC now owns 5,864 shares of the semiconductor company’s stock worth $431,000 after acquiring an additional 239 shares in the last quarter. Axxcess Wealth Management LLC acquired a new stake in shares of Onsemi during the 1st quarter worth about $808,000. Lazard Asset Management LLC lifted its holdings in Onsemi by 4.6% during the 1st quarter. Lazard Asset Management LLC now owns 54,993 shares of the semiconductor company’s stock valued at $4,043,000 after purchasing an additional 2,401 shares during the last quarter. Magnetar Financial LLC acquired a new position in Onsemi in the first quarter valued at about $3,022,000. Finally, Earnest Partners LLC grew its stake in Onsemi by 6.7% during the first quarter. Earnest Partners LLC now owns 2,596,042 shares of the semiconductor company’s stock worth $190,939,000 after buying an additional 161,987 shares during the last quarter. Institutional investors and hedge funds own 97.70% of the company’s stock.

Onsemi Company Profile

onsemi is engaged in disruptive innovations and also a supplier of power and analog semiconductors. The firm offers vehicle electrification and safety, sustainable energy grids, industrial automation, and 5G and cloud infrastructure, with a focus on automotive and industrial end-markets. It operates through the following segments: Power Solutions Group, Advanced Solutions Group, and Intelligent Sensing Group.