Onsemi’s (ON) Neutral Rating Reaffirmed at Rosenblatt Securities

Rosenblatt Securities restated their neutral rating on shares of Onsemi (NASDAQ:ON) in a research note issued to investors on Tuesday, Benzinga reports. Rosenblatt Securities currently has a $75.00 price target on the semiconductor company’s stock.

Other equities analysts have also issued research reports about the stock. Roth Mkm upped their price target on shares of Onsemi from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Citigroup lowered shares of Onsemi from a “buy” rating to a “neutral” rating and dropped their price target for the company from $85.00 to $77.00 in a research note on Monday, July 15th. Truist Financial lifted their price target on Onsemi from $85.00 to $97.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft raised their target price on Onsemi from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Finally, JPMorgan Chase & Co. boosted their price target on Onsemi from $85.00 to $88.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $85.57.

Onsemi Stock Performance

Onsemi stock opened at $74.70 on Tuesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.01 and a quick ratio of 1.95. Onsemi has a 12 month low of $59.34 and a 12 month high of $86.77. The company has a fifty day moving average price of $71.49 and a two-hundred day moving average price of $71.48. The company 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, beating the consensus estimate 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 24.84% and a return on equity of 25.48%. The company’s quarterly revenue was down 19.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.39 EPS. Research analysts expect that Onsemi will post 4.01 earnings per share for the current year.

Insider Activity

In related news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $72.71, for a total value of $109,065.00. Following the completion of the transaction, the chief executive officer now owns 839,210 shares in the company, valued at $61,018,959.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Onsemi

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its stake in Onsemi by 18.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,217,221 shares of the semiconductor company’s stock valued at $289,088,000 after acquiring an additional 665,633 shares in the last quarter. Capital International Investors grew its position in Onsemi by 1.0% during the first quarter. Capital International Investors now owns 4,107,006 shares of the semiconductor company’s stock valued at $302,070,000 after purchasing an additional 42,117 shares in the last quarter. Van ECK Associates Corp increased its stake in Onsemi by 26.4% in the 3rd quarter. Van ECK Associates Corp now owns 3,495,056 shares of the semiconductor company’s stock valued at $237,559,000 after buying an additional 729,081 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Onsemi by 14.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,968,160 shares of the semiconductor company’s stock valued at $215,518,000 after buying an additional 380,471 shares during the period. Finally, Earnest Partners LLC lifted its position in Onsemi by 6.7% in the 1st 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 in the last quarter. 97.70% of the stock is currently owned by hedge funds and other 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.