Onsemi (NASDAQ:ON) Price Target Raised to $64.00 at Morgan Stanley

Onsemi (NASDAQ:ON) had its price target hoisted by Morgan Stanley from $63.00 to $64.00 in a report issued on Tuesday, Benzinga reports. They currently have an underweight rating on the semiconductor company’s stock.

Several other analysts have also recently issued reports on the company. Benchmark upped their price objective on Onsemi from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Mizuho set a $85.00 price objective on Onsemi in a report on Friday, October 18th. Bank of America upped their price objective on Onsemi from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Citigroup cut Onsemi from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $85.00 to $77.00 in a report on Monday, July 15th. Finally, JPMorgan Chase & Co. upped their price objective on Onsemi from $85.00 to $88.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, Onsemi has a consensus rating of “Moderate Buy” and an average price target of $85.57.

Onsemi Stock Up 3.4 %

NASDAQ ON opened at $74.70 on Tuesday. The stock’s 50 day moving average is $71.49 and its 200 day moving average is $71.48. The company has a current ratio of 3.01, a quick ratio of 1.95 and a debt-to-equity ratio of 0.31. Onsemi has a 12 month low of $59.34 and a 12 month high of $86.77. The stock has a market cap of $32.00 billion, a PE ratio of 18.54, a P/E/G ratio of 3.82 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 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.02. Onsemi had a return on equity of 25.48% and a net margin of 24.84%. The company had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.75 billion. During the same period in the previous year, the firm earned $1.39 EPS. The firm’s revenue was down 19.2% compared to the same quarter last year. Research analysts predict that Onsemi will post 4.01 EPS for the current fiscal year.

Insider Transactions at Onsemi

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi stock in a transaction on Monday, September 16th. The stock was sold at an average price of $70.80, for a total transaction of $106,200.00. Following the completion of the sale, the chief executive officer now directly owns 840,620 shares of the company’s stock, valued at $59,515,896. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.31% of the company’s stock.

Institutional Trading of Onsemi

Several institutional investors and hedge funds have recently made changes to their positions in the company. Mediolanum International Funds Ltd bought a new position in shares of Onsemi during the first quarter valued at approximately $2,447,000. Assenagon Asset Management S.A. boosted its stake in shares of Onsemi by 690.2% during the second quarter. Assenagon Asset Management S.A. now owns 101,318 shares of the semiconductor company’s stock valued at $6,945,000 after purchasing an additional 88,496 shares in the last quarter. Norden Group LLC bought a new position in shares of Onsemi during the first quarter valued at approximately $774,000. Axxcess Wealth Management LLC bought a new position in shares of Onsemi during the first quarter valued at approximately $808,000. Finally, Meeder Asset Management Inc. boosted its stake in shares of Onsemi by 42.9% during the first quarter. Meeder Asset Management Inc. now owns 26,029 shares of the semiconductor company’s stock valued at $1,914,000 after purchasing an additional 7,820 shares in the last quarter. 97.70% of the stock is currently 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.