Onsemi (NASDAQ:ON) Receives $85.61 Consensus Price Target from Brokerages

Onsemi (NASDAQ:ON) has been given a consensus rating of “Moderate Buy” by the twenty-four analysts that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $85.61.

A number of equities analysts have recently commented on the company. TD Cowen boosted their price target on Onsemi from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Benchmark boosted their price target on Onsemi from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft boosted their price target on Onsemi from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. StockNews.com cut Onsemi from a “hold” rating to a “sell” rating in a report on Monday, August 26th. Finally, Citigroup cut Onsemi from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $85.00 to $77.00 in a report on Monday, July 15th.

Insider Transactions at Onsemi

In other news, insider Simon Keeton sold 30,939 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $77.94, for a total value of $2,411,385.66. Following the completion of the sale, the insider now directly owns 231,092 shares of the company’s stock, valued at $18,011,310.48. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Onsemi

Institutional investors have recently modified their holdings of the business. Integrated Advisors Network LLC grew its holdings in Onsemi by 1.7% during the fourth quarter. Integrated Advisors Network LLC now owns 9,715 shares of the semiconductor company’s stock valued at $811,000 after purchasing an additional 164 shares during the period. Massmutual Trust Co. FSB ADV grew its holdings in Onsemi by 36.7% during the second quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 169 shares during the period. STF Management LP grew its holdings in Onsemi by 2.5% during the fourth quarter. STF Management LP now owns 7,209 shares of the semiconductor company’s stock valued at $602,000 after purchasing an additional 178 shares during the period. Covestor Ltd grew its holdings in Onsemi by 24.5% during the first quarter. Covestor Ltd now owns 965 shares of the semiconductor company’s stock valued at $71,000 after purchasing an additional 190 shares during the period. Finally, Global Retirement Partners LLC grew its holdings in Onsemi by 5.3% during the first quarter. Global Retirement Partners LLC now owns 3,970 shares of the semiconductor company’s stock valued at $292,000 after purchasing an additional 200 shares during the period. 97.70% of the stock is owned by institutional investors.

Onsemi Stock Performance

NASDAQ:ON opened at $70.58 on Monday. The stock has a market cap of $30.37 billion, a P/E ratio of 14.40, a PEG ratio of 3.64 and a beta of 1.66. The stock has a 50 day simple moving average of $73.37 and a 200 day simple moving average of $72.54. The company has a current ratio of 3.01, a quick ratio of 1.95 and a debt-to-equity ratio of 0.31. Onsemi has a 1-year low of $59.34 and a 1-year high of $99.45.

Onsemi (NASDAQ:ON) last released its quarterly earnings results on Monday, July 29th. The semiconductor company reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.04. The business had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Onsemi had a return on equity of 25.48% and a net margin of 24.84%. The firm’s revenue for the quarter was down 17.2% compared to the same quarter last year. During the same period last year, the firm posted $1.33 EPS. Research analysts anticipate that Onsemi will post 4.01 earnings per share for the current year.

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.