Analysts Set Onsemi (NASDAQ:ON) Target Price at $85.61

Onsemi (NASDAQ:ON) has received an average rating of “Moderate Buy” from the twenty-four research firms that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $85.61.

A number of equities research analysts recently issued reports on the company. Truist Financial increased their price objective on Onsemi from $85.00 to $97.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. StockNews.com downgraded Onsemi from a “hold” rating to a “sell” rating in a research report on Monday, August 26th. Morgan Stanley downgraded Onsemi from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $70.00 to $65.00 in a research report on Thursday, July 11th. KeyCorp lowered their price objective on Onsemi from $90.00 to $85.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 9th. Finally, Bank of America increased their price objective on Onsemi from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th.

Onsemi Price Performance

Onsemi stock opened at $70.58 on Monday. Onsemi has a one year low of $59.34 and a one year high of $99.45. The business has a fifty day moving average price of $73.37 and a 200-day moving average price of $72.54. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.01 and a quick ratio of 1.95. The firm has a market capitalization of $30.37 billion, a P/E ratio of 14.40, a PEG ratio of 3.64 and a beta of 1.66.

Onsemi (NASDAQ:ON) last posted its quarterly earnings results on Monday, July 29th. The semiconductor company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. Onsemi had a return on equity of 25.48% and a net margin of 24.84%. The firm had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same period last year, the company earned $1.33 earnings per share. The business’s revenue for the quarter was down 17.2% on a year-over-year basis. As a group, equities research analysts forecast that Onsemi will post 4.01 EPS for the current year.

Insider Transactions at Onsemi

In related news, insider Simon Keeton sold 30,939 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $77.94, for a total value of $2,411,385.66. Following the sale, the insider now directly owns 231,092 shares of the company’s stock, valued at $18,011,310.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.31% of the company’s stock.

Institutional Trading of Onsemi

Large investors have recently modified their holdings of the business. Private Wealth Management Group LLC bought a new stake in shares of Onsemi in the fourth quarter worth about $33,000. Westside Investment Management Inc. boosted its position in Onsemi by 5,500.0% during the 1st quarter. Westside Investment Management Inc. now owns 560 shares of the semiconductor company’s stock valued at $41,000 after acquiring an additional 550 shares in the last quarter. Fidelis Capital Partners LLC bought a new stake in Onsemi during the 1st quarter valued at approximately $45,000. Massmutual Trust Co. FSB ADV boosted its position in Onsemi by 36.7% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock valued at $43,000 after acquiring an additional 169 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new stake in Onsemi during the 2nd quarter valued at approximately $43,000. 97.70% of the stock is owned by institutional investors.

About Onsemi

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.