Onsemi’s (ON) “Buy” Rating Reiterated at Benchmark

Onsemi (NASDAQ:ON)‘s stock had its “buy” rating restated by equities research analysts at Benchmark in a research note issued on Tuesday, Benzinga reports. They presently have a $90.00 price target on the semiconductor company’s stock. Benchmark’s price objective indicates a potential upside of 22.23% from the stock’s previous close.

ON has been the topic of several other reports. Morgan Stanley raised their target price on shares of Onsemi from $63.00 to $64.00 and gave the stock an “underweight” rating in a research report on Tuesday. KeyCorp decreased their target price on shares of Onsemi from $95.00 to $90.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 8th. Roth Mkm lifted their price target on shares of Onsemi from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Onsemi from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Finally, Truist Financial lifted their price target on shares of Onsemi from $85.00 to $97.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $85.91.

Onsemi Price Performance

Onsemi stock opened at $73.63 on Tuesday. The firm’s 50-day moving average is $71.43 and its two-hundred day moving average is $71.49. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.01 and a quick ratio of 1.95. Onsemi has a 12-month low of $59.34 and a 12-month high of $86.77. The stock has a market capitalization of $31.54 billion, a P/E ratio of 18.27, a P/E/G ratio of 3.82 and a beta of 1.65.

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

Insider Buying and Selling

In related news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $72.71, for a total value of $109,065.00. Following the completion of the sale, the chief executive officer now owns 839,210 shares in the company, valued at approximately $61,018,959.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.31% of the company’s stock.

Institutional Trading of Onsemi

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Davis Investment Partners LLC boosted its holdings in Onsemi by 0.8% in the third quarter. Davis Investment Partners LLC now owns 17,112 shares of the semiconductor company’s stock worth $1,224,000 after purchasing an additional 142 shares during the period. Massmutual Trust Co. FSB ADV boosted its holdings in Onsemi by 36.7% in the second quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 169 shares during the period. Greenleaf Trust boosted its holdings in Onsemi by 3.4% in the third quarter. Greenleaf Trust now owns 5,262 shares of the semiconductor company’s stock worth $382,000 after purchasing an additional 173 shares during the period. Covestor Ltd boosted its holdings in Onsemi by 24.5% in the first quarter. Covestor Ltd now owns 965 shares of the semiconductor company’s stock worth $71,000 after purchasing an additional 190 shares during the period. Finally, Meridian Financial Partners LLC boosted its holdings in Onsemi by 1.7% in the third quarter. Meridian Financial Partners LLC now owns 11,305 shares of the semiconductor company’s stock worth $821,000 after purchasing an additional 192 shares during the period. 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.