Onsemi (NASDAQ:ON) Price Target Raised to $44.00 at TD Cowen

Onsemi (NASDAQ:ON) had its target price hoisted by research analysts at TD Cowen from $38.00 to $44.00 in a research report issued to clients and investors on Tuesday, MarketBeat reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. TD Cowen’s price objective indicates a potential upside of 13.40% from the stock’s current price.

A number of other analysts have also commented on the company. Truist Financial decreased their price objective on Onsemi from $60.00 to $52.00 and set a “hold” rating for the company in a report on Tuesday, February 11th. The Goldman Sachs Group dropped their price objective on Onsemi from $77.00 to $64.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Rosenblatt Securities reiterated a “neutral” rating and issued a $49.00 target price on shares of Onsemi in a report on Thursday, February 27th. Jefferies Financial Group reduced their price objective on shares of Onsemi from $100.00 to $85.00 and set a “buy” rating for the company in a research report on Monday, February 10th. Finally, Wells Fargo & Company reduced their target price on Onsemi from $80.00 to $60.00 and set an “overweight” rating for the company in a report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Onsemi currently has an average rating of “Moderate Buy” and a consensus target price of $54.32.

Onsemi Stock Up 0.8 %

Shares of NASDAQ:ON opened at $38.80 on Tuesday. The firm has a market cap of $16.38 billion, a P/E ratio of 10.69, a PEG ratio of 16.74 and a beta of 1.39. Onsemi has a 52-week low of $31.04 and a 52-week high of $80.08. The business’s 50 day simple moving average is $39.89 and its two-hundred day simple moving average is $54.37. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.38 and a current ratio of 5.06.

Onsemi (NASDAQ:ON) last announced its quarterly earnings results on Monday, May 5th. The semiconductor company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. Onsemi had a net margin of 22.21% and a return on equity of 20.10%. The business had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the previous year, the business posted $1.08 EPS. Onsemi’s quarterly revenue was down 22.4% on a year-over-year basis. As a group, research analysts forecast that Onsemi will post 2.6 EPS for the current fiscal year.

Hedge Funds Weigh In On Onsemi

Hedge funds have recently bought and sold shares of the company. Truvestments Capital LLC lifted its holdings in shares of Onsemi by 3.8% during the 4th quarter. Truvestments Capital LLC now owns 5,661 shares of the semiconductor company’s stock worth $357,000 after acquiring an additional 207 shares during the last quarter. Assetmark Inc. boosted its position in Onsemi by 0.3% during the 4th quarter. Assetmark Inc. now owns 78,495 shares of the semiconductor company’s stock valued at $4,949,000 after buying an additional 235 shares during the period. V Square Quantitative Management LLC increased its holdings in Onsemi by 3.9% during the 4th quarter. V Square Quantitative Management LLC now owns 6,727 shares of the semiconductor company’s stock valued at $424,000 after purchasing an additional 252 shares during the period. Huntington National Bank raised its holdings in shares of Onsemi by 8.9% during the fourth quarter. Huntington National Bank now owns 3,310 shares of the semiconductor company’s stock valued at $209,000 after acquiring an additional 271 shares in the last quarter. Finally, Elequin Capital LP lifted its position in shares of Onsemi by 108.3% in the 4th quarter. Elequin Capital LP now owns 527 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 274 shares during the period. 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.