Brokerages Set Onsemi (NASDAQ:ON) Price Target at $84.43

Onsemi (NASDAQ:ON) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-three research firms that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, six have given a hold rating and fifteen have assigned a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $83.35.

Several equities research analysts have recently issued reports on ON shares. Roth Mkm reissued a “buy” rating and issued a $100.00 price objective on shares of Onsemi in a research report on Thursday, December 12th. TD Cowen cut their price objective on Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. 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. KeyCorp lowered their target price on Onsemi from $90.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday. Finally, BNP Paribas reduced their price target on Onsemi from $60.00 to $55.00 in a research report on Friday, October 25th.

Onsemi Price Performance

Shares of Onsemi stock opened at $55.18 on Friday. The business’s fifty day moving average price is $66.59 and its 200 day moving average price is $70.20. Onsemi has a twelve month low of $53.10 and a twelve month high of $85.16. The company has a current ratio of 3.07, a quick ratio of 2.02 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $23.50 billion, a P/E ratio of 13.69, a PEG ratio of 7.07 and a beta of 1.64.

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

Insider Buying and Selling at Onsemi

In related news, CEO Hassane El-Khoury sold 1,500 shares of the company’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. This 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 through the SEC website. 0.31% of the stock is currently owned by company insiders.

Institutional Trading of Onsemi

A number of hedge funds and other institutional investors have recently made changes to their positions in ON. Nordea Investment Management AB lifted its holdings in Onsemi by 25.9% in the 4th quarter. Nordea Investment Management AB now owns 402,124 shares of the semiconductor company’s stock valued at $25,724,000 after acquiring an additional 82,614 shares during the last quarter. Natixis Advisors LLC lifted its stake in Onsemi by 1.4% during the third quarter. Natixis Advisors LLC now owns 1,352,005 shares of the semiconductor company’s stock valued at $98,169,000 after purchasing an additional 18,450 shares during the last quarter. Cinctive Capital Management LP bought a new stake in Onsemi during the third quarter worth approximately $1,270,000. Public Employees Retirement System of Ohio grew its position in Onsemi by 18.7% in the third quarter. Public Employees Retirement System of Ohio now owns 194,409 shares of the semiconductor company’s stock worth $14,116,000 after buying an additional 30,695 shares during the last quarter. Finally, World Investment Advisors LLC bought a new position in shares of Onsemi in the third quarter valued at $1,087,000. 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.