Onsemi (NASDAQ:ON) Coverage Initiated at Evercore ISI

Evercore ISI assumed coverage on shares of Onsemi (NASDAQ:ON) in a research report issued on Tuesday, MarketBeat reports. The firm set an “outperform” rating and a $104.00 price target on the semiconductor company’s stock. Evercore ISI’s target price suggests a potential upside of 61.32% from the stock’s previous close.

Several other equities analysts also recently issued reports on the stock. Needham & Company LLC restated a “buy” rating and set a $92.00 price objective on shares of Onsemi in a report on Tuesday, February 6th. StockNews.com upgraded shares of Onsemi from a “sell” rating to a “hold” rating in a report on Wednesday, February 14th. Roth Mkm increased their price target on shares of Onsemi from $75.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, February 6th. JPMorgan Chase & Co. cut their price target on shares of Onsemi from $95.00 to $90.00 and set a “neutral” rating on the stock in a report on Tuesday, February 6th. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $75.00 price target on shares of Onsemi in a report on Tuesday, February 6th. Eleven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $98.52.

Onsemi Stock Down 0.4 %

Shares of ON opened at $64.47 on Tuesday. The firm has a market capitalization of $27.71 billion, a P/E ratio of 13.18, a P/E/G ratio of 6.36 and a beta of 1.80. Onsemi has a 12-month low of $61.47 and a 12-month high of $111.35. The company has a current ratio of 2.71, a quick ratio of 1.74 and a debt-to-equity ratio of 0.33. The firm has a fifty day moving average price of $75.43 and a 200-day moving average price of $76.75.

Onsemi (NASDAQ:ON) last announced its earnings results on Monday, February 5th. The semiconductor company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.04. The business had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2 billion. Onsemi had a net margin of 26.46% and a return on equity of 31.36%. The firm’s revenue was down 4.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.32 earnings per share. Equities research analysts expect that Onsemi will post 4.34 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ON. Provence Wealth Management Group acquired a new stake in shares of Onsemi in the 3rd quarter worth $25,000. FinTrust Capital Advisors LLC acquired a new stake in shares of Onsemi in the 4th quarter worth $25,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Onsemi in the 4th quarter worth $32,000. MeadowBrook Investment Advisors LLC acquired a new stake in shares of Onsemi in the 4th quarter worth $33,000. Finally, Private Wealth Management Group LLC acquired a new stake in shares of Onsemi in the 4th quarter worth $33,000. Hedge funds and other institutional investors own 97.70% of the company’s stock.

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.