Onsemi (NASDAQ:ON) Given Hold Rating at Truist Financial

Onsemi (NASDAQ:ON)‘s stock had its “hold” rating reiterated by investment analysts at Truist Financial in a research note issued on Friday, MarketBeat.com reports. They presently have a $60.00 price target on the semiconductor company’s stock, down from their prior price target of $85.00. Truist Financial’s price target points to a potential upside of 11.23% from the company’s previous close.

ON has been the topic of a number of other research reports. BNP Paribas reduced their price objective on Onsemi from $60.00 to $55.00 in a research note on Friday, October 25th. Rosenblatt Securities reissued a “neutral” rating and issued a $75.00 price objective on shares of Onsemi in a research note on Tuesday, October 29th. Morgan Stanley boosted their price objective on Onsemi from $63.00 to $64.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 29th. Wells Fargo & Company started coverage on Onsemi in a research note on Friday, November 22nd. They issued an “overweight” rating and a $85.00 price objective on the stock. Finally, StockNews.com raised Onsemi from a “sell” rating to a “hold” rating in a research note on Tuesday, October 29th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $84.43.

Onsemi Stock Performance

Shares of NASDAQ:ON opened at $53.94 on Friday. The business’s fifty day moving average price is $66.86 and its two-hundred day moving average price is $70.27. Onsemi has a fifty-two week low of $53.60 and a fifty-two week high of $85.16. The stock has a market capitalization of $22.97 billion, a price-to-earnings ratio of 13.38, a price-to-earnings-growth ratio of 7.07 and a beta of 1.64. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.07 and a quick ratio of 2.02.

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

Insider Activity

In related news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi 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 directly owns 837,710 shares of the company’s stock, valued at approximately $59,477,410. This trade represents a 0.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.31% of the company’s stock.

Institutional Trading of Onsemi

Several hedge funds have recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new position in Onsemi in the 3rd quarter valued at $27,000. Ashton Thomas Securities LLC acquired a new position in Onsemi in the 3rd quarter valued at $33,000. GHP Investment Advisors Inc. raised its holdings in Onsemi by 12,850.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 518 shares of the semiconductor company’s stock valued at $38,000 after acquiring an additional 514 shares in the last quarter. Safe Harbor Fiduciary LLC acquired a new position in Onsemi in the 3rd quarter valued at $43,000. Finally, Massmutual Trust Co. FSB ADV raised its holdings in Onsemi by 42.8% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 898 shares of the semiconductor company’s stock valued at $65,000 after acquiring an additional 269 shares in the last quarter. 97.70% of the stock is owned by institutional investors and hedge funds.

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.