Onsemi (NASDAQ:ON) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Onsemi (NASDAQ:ON) have received an average recommendation of “Moderate Buy” from the twenty-three analysts that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and sixteen have given a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $85.87.

ON has been the topic of a number of research analyst reports. Morgan Stanley raised their target price on shares of Onsemi from $63.00 to $64.00 and gave the company an “underweight” rating in a research report on Tuesday, October 29th. Roth Mkm reissued a “buy” rating and set a $100.00 price objective on shares of Onsemi in a report on Thursday, December 12th. Wells Fargo & Company initiated coverage on Onsemi in a research report on Friday, November 22nd. They set an “overweight” rating and a $85.00 price objective on the stock. TD Cowen dropped their target price on Onsemi from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Finally, Rosenblatt Securities restated a “neutral” rating and set a $75.00 price target on shares of Onsemi in a report on Tuesday, October 29th.

Insider Transactions at Onsemi

In other news, CEO Hassane El-Khoury sold 1,500 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $71.00, for a total value of $106,500.00. Following the completion of the sale, the chief executive officer now directly owns 837,710 shares in the company, valued at $59,477,410. This trade represents a 0.18 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Onsemi

A number of institutional investors have recently modified their holdings of ON. Geode Capital Management LLC raised its holdings in shares of Onsemi by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 10,602,000 shares of the semiconductor company’s stock worth $767,646,000 after acquiring an additional 309,445 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Onsemi by 18.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,217,221 shares of the semiconductor company’s stock worth $289,088,000 after purchasing an additional 665,633 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of Onsemi by 26.4% in the third quarter. Van ECK Associates Corp now owns 3,495,056 shares of the semiconductor company’s stock worth $237,559,000 after purchasing an additional 729,081 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Onsemi by 14.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,968,160 shares of the semiconductor company’s stock valued at $215,518,000 after purchasing an additional 380,471 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Onsemi by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,404,589 shares of the semiconductor company’s stock valued at $174,597,000 after buying an additional 31,889 shares during the last quarter. 97.70% of the stock is owned by institutional investors and hedge funds.

Onsemi Stock Up 1.9 %

Shares of ON opened at $67.90 on Wednesday. The firm has a 50 day simple moving average of $68.82 and a two-hundred day simple moving average of $71.05. 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 has a one year low of $59.34 and a one year high of $86.10. The company has a market cap of $28.91 billion, a P/E ratio of 16.85, a P/E/G ratio of 7.07 and a beta of 1.63.

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, 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 return on equity of 22.38% and a net margin of 23.80%. The business’s revenue for the quarter was down 19.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.39 earnings per share. Research analysts forecast that Onsemi will post 4 EPS for the current fiscal year.

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.