Loop Capital Initiates Coverage on Onsemi (NASDAQ:ON)

Equities research analysts at Loop Capital initiated coverage on shares of Onsemi (NASDAQ:ON) in a research report issued on Monday, MarketBeat.com reports. The firm set a “buy” rating and a $95.00 price target on the semiconductor company’s stock. Loop Capital’s price target would indicate a potential upside of 35.27% from the company’s previous close.

Several other equities research analysts have also recently weighed in on the stock. Truist Financial dropped their price target on shares of Onsemi from $97.00 to $89.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. Benchmark reiterated a “buy” rating and set a $90.00 target price on shares of Onsemi in a report on Tuesday, October 29th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $75.00 price target on shares of Onsemi in a research report on Tuesday, October 29th. Mizuho set a $85.00 price objective on Onsemi in a research report on Friday, October 18th. Finally, Susquehanna upped their target price on Onsemi from $85.00 to $95.00 and gave the company a “positive” rating in a report on Wednesday, July 17th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $86.30.

Onsemi Stock Up 0.4 %

Shares of NASDAQ:ON opened at $70.23 on Monday. The stock has a market capitalization of $29.90 billion, a P/E ratio of 17.43, a price-to-earnings-growth ratio of 7.55 and a beta of 1.65. The stock’s 50-day moving average price is $70.59 and its 200-day moving average price is $71.96. The company has a current ratio of 3.07, a quick ratio of 2.02 and a debt-to-equity ratio of 0.30. Onsemi has a 12-month low of $59.34 and a 12-month high of $86.77.

Onsemi (NASDAQ:ON) last posted its quarterly 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 return on equity of 22.38% and a net margin of 23.80%. The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same period last year, the company earned $1.39 EPS. Onsemi’s revenue for the quarter was down 19.2% compared to the same quarter last year. On average, equities analysts anticipate that Onsemi will post 4 earnings per share for the current year.

Insiders Place Their Bets

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi stock in a transaction dated 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 transaction, the chief executive officer now directly owns 839,210 shares of the company’s stock, 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. Corporate insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Onsemi

A number of hedge funds have recently bought and sold shares of the business. Capital Performance Advisors LLP purchased a new position in shares of Onsemi in the 3rd quarter worth $27,000. Ashton Thomas Securities LLC purchased a new position in Onsemi in the third quarter worth about $33,000. GHP Investment Advisors Inc. grew its stake in shares of Onsemi by 12,850.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 518 shares of the semiconductor company’s stock valued at $38,000 after purchasing an additional 514 shares during the period. Massmutual Trust Co. FSB ADV grew its position 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 buying an additional 169 shares during the period. Finally, International Assets Investment Management LLC purchased a new stake in Onsemi during the second quarter valued at approximately $43,000. Hedge funds and other institutional investors own 97.70% of the company’s stock.

About Onsemi

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.