Onsemi (ON) – Investment Analysts’ Recent Ratings Changes

Several brokerages have updated their recommendations and price targets on shares of Onsemi (NASDAQ: ON) in the last few weeks:

• 10/29/2024 – Onsemi had its price target raised by analysts at Morgan Stanley from $63.00 to $64.00. They now have an “underweight” rating on the stock.
• 10/29/2024 – Onsemi had its “neutral” rating reaffirmed by analysts at Rosenblatt Securities. They now have a $75.00 price target on the stock.
• 10/29/2024 – Onsemi had its price target raised by analysts at Robert W. Baird from $70.00 to $75.00. They now have a “neutral” rating on the stock.
• 10/29/2024 – Onsemi was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 10/29/2024 – Onsemi had its price target lowered by analysts at Truist Financial Co. from $97.00 to $89.00. They now have a “buy” rating on the stock.
• 10/29/2024 – Onsemi had its price target lowered by analysts at Needham & Company LLC from $92.00 to $87.00. They now have a “buy” rating on the stock.
• 10/29/2024 – Onsemi had its “buy” rating reaffirmed by analysts at Benchmark Co.. They now have a $90.00 price target on the stock.
• 10/25/2024 – Onsemi had its price target lowered by analysts at TD Cowen from $90.00 to $85.00. They now have a “buy” rating on the stock.
• 10/25/2024 – Onsemi had its price target lowered by analysts at Morgan Stanley from $66.00 to $63.00.
• 10/25/2024 – Onsemi had its price target lowered by analysts at BNP Paribas from $60.00 to $55.00.
• 10/18/2024 – Onsemi was given a new $85.00 price target on by analysts at Mizuho.
• 10/8/2024 – Onsemi had its price target lowered by analysts at KeyCorp from $95.00 to $90.00. They now have an “overweight” rating on the stock.

Onsemi Price Performance

Onsemi stock opened at $70.20 on Wednesday. The business’s 50 day simple moving average is $71.16 and its 200 day simple moving average is $71.67. Onsemi has a 12 month low of $59.34 and a 12 month high of $86.77. The company has a market cap of $29.89 billion, a price-to-earnings ratio of 17.42, a PEG ratio of 7.61 and a beta of 1.65. 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 (NASDAQ:ON) last issued its earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.02. The firm 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 company’s quarterly revenue was down 19.2% on a year-over-year basis. During the same quarter last year, the business earned $1.39 earnings per share. Sell-side analysts forecast that Onsemi will post 4 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $70.80, for a total transaction of $106,200.00. Following the completion of the transaction, the chief executive officer now owns 840,620 shares of the company’s stock, valued at approximately $59,515,896. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.31% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Onsemi

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Simmons Bank increased its stake in Onsemi by 7.2% in the third quarter. Simmons Bank now owns 20,518 shares of the semiconductor company’s stock valued at $1,490,000 after acquiring an additional 1,379 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Onsemi by 2.0% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,061,823 shares of the semiconductor company’s stock worth $77,099,000 after purchasing an additional 20,405 shares in the last quarter. WealthPlan Investment Management LLC bought a new position in shares of Onsemi during the 3rd quarter valued at about $5,297,000. WealthPLAN Partners LLC purchased a new position in shares of Onsemi during the 3rd quarter valued at about $2,126,000. Finally, Entropy Technologies LP purchased a new stake in Onsemi in the third quarter worth approximately $2,147,000. 97.70% of the stock is owned by hedge funds and other institutional investors.

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.