Onsemi (NASDAQ:ON) Price Target Raised to $64.00 at Morgan Stanley

Onsemi (NASDAQ:ON) had its target price lifted by Morgan Stanley from $63.00 to $64.00 in a research report report published on Tuesday morning, Benzinga reports. The brokerage currently has an underweight rating on the semiconductor company’s stock.

A number of other equities analysts also recently weighed in on the stock. Rosenblatt Securities raised their target price on shares of Onsemi from $70.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. JPMorgan Chase & Co. raised their price objective on Onsemi from $85.00 to $88.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. TD Cowen dropped their target price on Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Benchmark increased their target price on Onsemi from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Finally, Citigroup lowered 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 research report on Monday, July 15th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, Onsemi currently has an average rating of “Moderate Buy” and a consensus target price of $85.57.

Onsemi Trading Up 3.4 %

NASDAQ ON opened at $74.70 on Tuesday. The firm has a market capitalization of $32.00 billion, a PE ratio of 18.54, a P/E/G ratio of 3.82 and a beta of 1.65. The stock’s 50 day moving average is $71.49 and its 200 day moving average is $71.48. Onsemi has a twelve month low of $59.34 and a twelve month high of $86.77. The company has a quick ratio of 1.95, a current ratio of 3.01 and a debt-to-equity ratio of 0.31.

Onsemi (NASDAQ:ON) last announced its earnings results on Monday, October 28th. The semiconductor company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.02. The firm had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.75 billion. Onsemi had a net margin of 24.84% and a return on equity of 25.48%. The company’s quarterly revenue was down 19.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.39 EPS. Research analysts forecast that Onsemi will post 4.01 earnings per share for the current fiscal year.

Insider Buying and Selling at Onsemi

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $72.71, for a total transaction of $109,065.00. Following the completion of the sale, the chief executive officer now directly owns 839,210 shares in the company, valued at $61,018,959.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Ground Swell Capital LLC bought a new position in shares of Onsemi during the 3rd quarter valued at approximately $201,000. Van ECK Associates Corp grew its stake in shares of Onsemi by 26.4% during 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 acquiring an additional 729,081 shares during the period. Prosperitas Financial LLC grew its stake in shares of Onsemi by 14.8% during the 3rd quarter. Prosperitas Financial LLC now owns 31,780 shares of the semiconductor company’s stock valued at $2,308,000 after acquiring an additional 4,096 shares during the period. Arcadia Investment Management Corp MI bought a new position in shares of Onsemi during the 3rd quarter valued at approximately $87,000. Finally, BluePath Capital Management LLC grew its stake in shares of Onsemi by 23.6% during the 3rd quarter. BluePath Capital Management LLC now owns 11,196 shares of the semiconductor company’s stock valued at $813,000 after acquiring an additional 2,139 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.