Analysts Set Onsemi (NASDAQ:ON) PT at $85.87

Onsemi (NASDAQ:ON) has been given a consensus recommendation of “Moderate Buy” by the twenty-three ratings firms that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and sixteen have assigned a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $85.87.

ON has been the topic of a number of research analyst reports. Loop Capital assumed coverage on shares of Onsemi in a research report on Monday, November 11th. They issued a “buy” rating and a $95.00 target price on the stock. BNP Paribas dropped their price target on Onsemi from $60.00 to $55.00 in a research note on Friday, October 25th. KeyCorp reduced their price objective on Onsemi from $95.00 to $90.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 8th. StockNews.com upgraded Onsemi from a “sell” rating to a “hold” rating in a research report on Tuesday, October 29th. Finally, Wells Fargo & Company assumed coverage on Onsemi in a research note on Friday, November 22nd. They set an “overweight” rating and a $85.00 price target on the stock.

Onsemi Price Performance

Shares of ON stock opened at $65.50 on Wednesday. The business has a fifty day simple moving average of $69.07 and a 200 day simple moving average of $71.21. The company has a market cap of $27.89 billion, a P/E ratio of 16.25, a P/E/G ratio of 7.07 and a beta of 1.63. The company has a quick ratio of 2.02, a current ratio of 3.07 and a debt-to-equity ratio of 0.30. Onsemi has a twelve month low of $59.34 and a twelve month high of $86.10.

Onsemi (NASDAQ:ON) last posted its earnings results on Monday, October 28th. The semiconductor company reported $0.99 EPS for the quarter, topping 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 firm had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.75 billion. During the same quarter in the prior year, the business earned $1.39 earnings per share. The business’s revenue for the quarter was down 19.2% compared to the same quarter last year. On average, sell-side analysts forecast that Onsemi will post 4 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Hassane El-Khoury sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $71.00, for a total transaction 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. This trade represents a 0.18 % decrease in their ownership of the stock. 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 insiders.

Hedge Funds Weigh In On Onsemi

Institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC boosted its position in shares of Onsemi by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 10,602,000 shares of the semiconductor company’s stock worth $767,646,000 after purchasing an additional 309,445 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in 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 buying an additional 665,633 shares during the period. Van ECK Associates Corp boosted its holdings in Onsemi by 26.4% in the third quarter. Van ECK Associates Corp now owns 3,495,056 shares of the semiconductor company’s stock worth $237,559,000 after acquiring an additional 729,081 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Onsemi by 14.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,968,160 shares of the semiconductor company’s stock valued at $215,518,000 after acquiring an additional 380,471 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in Onsemi by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,404,589 shares of the semiconductor company’s stock valued at $174,597,000 after acquiring an additional 31,889 shares during the period. 97.70% of the stock is currently owned by institutional investors.

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.