Onsemi’s (ON) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Onsemi (NASDAQ:ON) in a research note released on Tuesday, Benzinga reports. Needham & Company LLC currently has a $92.00 price target on the semiconductor company’s stock.

Several other equities analysts also recently weighed in on ON. KeyCorp increased their price target on shares of Onsemi from $95.00 to $100.00 and gave the stock an overweight rating in a report on Tuesday, February 6th. Evercore ISI started coverage on shares of Onsemi in a report on Tuesday, April 16th. They set an outperform rating and a $104.00 target price for the company. Susquehanna lowered their price target on shares of Onsemi from $90.00 to $85.00 and set a positive rating on the stock in a report on Tuesday. Wells Fargo & Company reduced their price objective on Onsemi from $110.00 to $95.00 and set an overweight rating for the company in a research note on Tuesday, April 23rd. Finally, BNP Paribas restated an underperform rating and issued a $55.00 target price on shares of Onsemi in a research note on Friday, April 19th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, Onsemi has a consensus rating of Moderate Buy and a consensus target price of $90.24.

Onsemi Stock Performance

Shares of Onsemi stock opened at $70.37 on Tuesday. The company has a 50 day moving average price of $72.35 and a 200 day moving average price of $74.77. The firm has a market capitalization of $30.28 billion, a P/E ratio of 14.36, a PEG ratio of 3.12 and a beta of 1.78. The company has a quick ratio of 1.74, a current ratio of 2.87 and a debt-to-equity ratio of 0.32. Onsemi has a 52 week low of $59.34 and a 52 week high of $111.35.

Onsemi (NASDAQ:ON) last posted its quarterly earnings data on Monday, April 29th. The semiconductor company reported $1.08 EPS for the quarter, topping the consensus estimate of $1.04 by $0.04. Onsemi had a net margin of 26.67% and a return on equity of 28.86%. The business had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same period in the previous year, the firm posted $1.19 earnings per share. The business’s revenue for the quarter was down 4.9% compared to the same quarter last year. Sell-side analysts expect that Onsemi will post 3.86 EPS for the current year.

Institutional Trading of Onsemi

A number of hedge funds and other institutional investors have recently modified their holdings of ON. International Assets Investment Management LLC boosted its stake in Onsemi by 7,749.6% during the fourth quarter. International Assets Investment Management LLC now owns 83,363 shares of the semiconductor company’s stock worth $6,963,000 after buying an additional 82,301 shares during the period. Harvest Fund Management Co. Ltd lifted its holdings in shares of Onsemi by 7.1% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 9,610 shares of the semiconductor company’s stock worth $798,000 after acquiring an additional 637 shares during the last quarter. State of Michigan Retirement System boosted its position in shares of Onsemi by 3.6% during the 4th quarter. State of Michigan Retirement System now owns 140,536 shares of the semiconductor company’s stock worth $11,739,000 after purchasing an additional 4,900 shares during the period. Synergy Asset Management LLC increased its holdings in Onsemi by 91.5% in the 4th quarter. Synergy Asset Management LLC now owns 154,649 shares of the semiconductor company’s stock valued at $12,918,000 after purchasing an additional 73,909 shares during the last quarter. Finally, Handelsinvest Investeringsforvaltning purchased a new stake in Onsemi in the fourth quarter valued at approximately $1,137,000. 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.