Brokerages Set Onsemi (NASDAQ:ON) Target Price at $66.50

Onsemi (NASDAQ:ON) has been assigned an average rating of “Moderate Buy” from the twenty-five research firms that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and fifteen have given a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $66.50.

A number of analysts have issued reports on ON shares. Roth Mkm cut their price target on shares of Onsemi from $100.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Jefferies Financial Group cut their target price on shares of Onsemi from $100.00 to $85.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Wells Fargo & Company decreased their price target on shares of Onsemi from $80.00 to $60.00 and set an “overweight” rating for the company in a research report on Tuesday, February 11th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $49.00 price objective on shares of Onsemi in a research report on Thursday, February 27th. Finally, Craig Hallum decreased their target price on Onsemi from $78.00 to $50.00 and set a “hold” rating for the company in a report on Tuesday, February 11th.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Onsemi in the fourth quarter valued at $378,312,000. Janus Henderson Group PLC grew its holdings in shares of Onsemi by 9.2% during the fourth quarter. Janus Henderson Group PLC now owns 12,377,264 shares of the semiconductor company’s stock worth $780,387,000 after buying an additional 1,041,989 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in Onsemi by 35.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,005,784 shares of the semiconductor company’s stock valued at $247,226,000 after acquiring an additional 1,037,624 shares during the period. Freestone Grove Partners LP purchased a new stake in Onsemi during the 4th quarter valued at approximately $62,426,000. Finally, Dimensional Fund Advisors LP lifted its position in Onsemi by 18.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,014,671 shares of the semiconductor company’s stock worth $316,195,000 after acquiring an additional 771,610 shares during the period. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Onsemi Price Performance

Shares of ON opened at $40.94 on Friday. The firm has a 50-day simple moving average of $48.92 and a two-hundred day simple moving average of $61.14. The stock has a market cap of $17.25 billion, a PE ratio of 11.28, a P/E/G ratio of 16.74 and a beta of 1.59. Onsemi has a 1-year low of $40.62 and a 1-year high of $80.08. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.06 and a quick ratio of 3.38.

Onsemi (NASDAQ:ON) last issued its quarterly earnings data on Monday, February 10th. The semiconductor company reported $0.95 earnings per share for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.03). Onsemi had a net margin of 22.21% and a return on equity of 20.10%. As a group, analysts forecast that Onsemi will post 2.6 EPS for the current 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.