Brokerages Set Onsemi (NASDAQ:ON) PT at $66.50

Shares of Onsemi (NASDAQ:ON) have earned an average recommendation of “Moderate Buy” from the twenty-five ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and fifteen have given a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $66.50.

Several research analysts recently issued reports on ON shares. JPMorgan Chase & Co. reduced their target price on shares of Onsemi from $88.00 to $60.00 and set a “neutral” rating for the company in a report on Tuesday, February 11th. Mizuho reduced their price objective on Onsemi from $71.00 to $62.00 and set an “outperform” rating for the company in a research note on Monday, March 24th. Roth Mkm lowered their target price on Onsemi from $100.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Truist Financial reduced their price target on Onsemi from $60.00 to $52.00 and set a “hold” rating for the company in a research report on Tuesday, February 11th. Finally, Benchmark decreased their price target on Onsemi from $90.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, February 12th.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ON. Elequin Capital LP boosted its position in shares of Onsemi by 108.3% during the 4th quarter. Elequin Capital LP now owns 527 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 274 shares during the last quarter. Safe Harbor Fiduciary LLC acquired a new position in Onsemi in the 3rd quarter valued at about $43,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of Onsemi in the 4th quarter valued at approximately $41,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Onsemi during the 4th quarter worth approximately $43,000. Finally, Synergy Asset Management LLC purchased a new stake in shares of Onsemi during the 4th quarter valued at approximately $51,000. 97.70% of the stock is owned by hedge funds and other institutional investors.

Onsemi Stock Performance

Shares of ON opened at $40.94 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.38 and a current ratio of 5.06. The stock has a 50-day moving average of $48.92 and a two-hundred day moving average of $61.14. The stock has a market cap of $17.25 billion, a P/E ratio of 11.28, a P/E/G ratio of 16.74 and a beta of 1.59. Onsemi has a one year low of $40.62 and a one year high of $80.08.

Onsemi (NASDAQ:ON) last released its earnings results on Monday, February 10th. The semiconductor company reported $0.95 EPS 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%. As a group, research analysts predict that Onsemi will post 2.6 EPS for the current year.

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.