Onsemi (NASDAQ:ON) Receives $85.87 Average PT from Analysts

Shares of Onsemi (NASDAQ:ON) have earned a consensus rating of “Moderate Buy” from the twenty-three analysts that are presently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and sixteen have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $85.87.

A number of equities analysts have recently commented on the stock. Needham & Company LLC restated a “buy” rating and set a $87.00 price objective on shares of Onsemi in a research note on Tuesday, November 19th. StockNews.com upgraded Onsemi from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. Truist Financial decreased their price target on Onsemi from $97.00 to $89.00 and set a “buy” rating for the company in a research note on Tuesday, October 29th. Loop Capital began coverage on Onsemi in a research note on Monday, November 11th. They set a “buy” rating and a $95.00 price objective on the stock. Finally, Roth Mkm reissued a “buy” rating and issued a $100.00 target price on shares of Onsemi in a research note on Thursday, December 12th.

Onsemi Stock Up 1.1 %

Shares of Onsemi stock opened at $65.50 on Wednesday. The firm has a market cap of $27.89 billion, a PE ratio of 16.25, a P/E/G ratio of 7.07 and a beta of 1.63. The business’s 50 day simple moving average is $69.07 and its 200 day simple moving average is $71.21. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.02 and a current ratio of 3.07. Onsemi has a 52-week low of $59.34 and a 52-week high of $86.10.

Onsemi (NASDAQ:ON) last posted its quarterly earnings data on Monday, October 28th. The semiconductor company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.02. Onsemi had a net margin of 23.80% and a return on equity of 22.38%. The company had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.75 billion. During the same period last year, the company earned $1.39 earnings per share. The firm’s revenue was down 19.2% compared to the same quarter last year. On average, analysts predict that Onsemi will post 4 earnings per share for the current fiscal year.

Insider Transactions at Onsemi

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $71.00, for a total value of $106,500.00. Following the completion of the sale, the chief executive officer now owns 837,710 shares of the company’s stock, valued at $59,477,410. The trade was a 0.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.31% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Onsemi

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bridgewater Associates LP raised its stake in Onsemi by 8,367.5% in the third quarter. Bridgewater Associates LP now owns 1,123,041 shares of the semiconductor company’s stock valued at $81,544,000 after purchasing an additional 1,109,778 shares in the last quarter. American Century Companies Inc. increased its holdings in Onsemi by 451.3% in the 2nd quarter. American Century Companies Inc. now owns 1,111,112 shares of the semiconductor company’s stock valued at $76,167,000 after buying an additional 909,558 shares during the period. Van ECK Associates Corp raised its position in shares of 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 in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Onsemi by 18.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,217,221 shares of the semiconductor company’s stock worth $289,088,000 after acquiring an additional 665,633 shares during the period. Finally, 1832 Asset Management L.P. boosted its position in shares of Onsemi by 66.4% during the 2nd quarter. 1832 Asset Management L.P. now owns 1,440,450 shares of the semiconductor company’s stock worth $98,743,000 after acquiring an additional 574,900 shares in the last quarter. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Onsemi Company Profile

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.