Onsemi’s (ON) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Onsemi (NASDAQ:ON) in a report published on Monday morning,Benzinga reports. Needham & Company LLC currently has a $57.00 price target on the semiconductor company’s stock.

Several other equities research analysts have also recently commented on ON. Loop Capital began coverage on shares of Onsemi in a research report on Monday, November 11th. They issued a “buy” rating and a $95.00 price objective on the stock. Wells Fargo & Company lowered their price target on shares of Onsemi from $80.00 to $60.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 11th. Citigroup lowered their price target on shares of Onsemi from $77.00 to $52.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 11th. UBS Group lowered their price target on shares of Onsemi from $72.00 to $65.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $49.00 price target on shares of Onsemi in a research note on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.12.

Onsemi Trading Up 4.5 %

Shares of NASDAQ ON opened at $46.49 on Monday. The company’s fifty day moving average is $54.89 and its 200-day moving average is $64.91. The stock has a market cap of $19.59 billion, a price-to-earnings ratio of 12.81, a P/E/G ratio of 16.74 and a beta of 1.59. Onsemi has a twelve month low of $43.94 and a twelve month high of $85.16. The company has a quick ratio of 3.38, a current ratio of 5.06 and a debt-to-equity ratio of 0.38.

Onsemi (NASDAQ:ON) last announced its quarterly earnings results on Monday, February 10th. The semiconductor company reported $0.95 earnings per share for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.03). Onsemi had a return on equity of 20.10% and a net margin of 22.21%. Equities research analysts predict that Onsemi will post 2.6 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ON. Norges Bank bought a new position in shares of Onsemi in the 4th quarter worth about $378,312,000. Bridgewater Associates LP increased its stake in Onsemi by 8,367.5% during the 3rd quarter. Bridgewater Associates LP now owns 1,123,041 shares of the semiconductor company’s stock valued at $81,544,000 after purchasing an additional 1,109,778 shares in the last quarter. Janus Henderson Group PLC increased its stake in Onsemi by 9.2% during the 4th quarter. Janus Henderson Group PLC now owns 12,377,264 shares of the semiconductor company’s stock valued at $780,387,000 after purchasing an additional 1,041,989 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Onsemi by 35.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,005,784 shares of the semiconductor company’s stock valued at $247,226,000 after purchasing an additional 1,037,624 shares in the last quarter. Finally, Freestone Grove Partners LP bought a new stake in Onsemi during the 4th quarter valued at about $62,426,000. 97.70% of the stock is currently owned by institutional investors.

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.