Onsemi’s (ON) Neutral Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities reaffirmed their neutral rating on shares of Onsemi (NASDAQ:ON) in a research report report published on Tuesday, Benzinga reports. Rosenblatt Securities currently has a $75.00 price target on the semiconductor company’s stock.

Several other research firms have also commented on ON. Benchmark reissued a “buy” rating and issued a $90.00 price objective on shares of Onsemi in a research note on Tuesday. Mizuho set a $85.00 price objective on shares of Onsemi in a research note on Friday, October 18th. JPMorgan Chase & Co. lifted their price target on shares of Onsemi from $85.00 to $88.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Susquehanna lifted their price target on shares of Onsemi from $85.00 to $95.00 and gave the stock a “positive” rating in a research note on Wednesday, July 17th. Finally, Truist Financial lifted their price target on shares of Onsemi from $85.00 to $97.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $85.91.

Onsemi Trading Up 0.7 %

Shares of ON stock opened at $70.99 on Tuesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.07 and a quick ratio of 1.95. The firm has a market cap of $30.23 billion, a PE ratio of 17.62, a price-to-earnings-growth ratio of 7.89 and a beta of 1.65. The company has a 50-day moving average of $71.27 and a two-hundred day moving average of $71.52. Onsemi has a 1-year low of $59.34 and a 1-year high of $86.77.

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

Insider Activity

In other news, CEO Hassane El-Khoury sold 1,500 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $72.71, for a total transaction of $109,065.00. Following the completion of the transaction, the chief executive officer now owns 839,210 shares of the company’s stock, valued at $61,018,959.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.31% of the company’s stock.

Institutional Trading of Onsemi

Institutional investors and hedge funds have recently bought and sold shares of the business. Mediolanum International Funds Ltd acquired a new stake in Onsemi during the 1st quarter worth approximately $2,447,000. Assenagon Asset Management S.A. boosted its holdings in Onsemi by 690.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 101,318 shares of the semiconductor company’s stock worth $6,945,000 after acquiring an additional 88,496 shares during the period. Norden Group LLC purchased a new position in Onsemi in the 1st quarter worth approximately $774,000. Axxcess Wealth Management LLC purchased a new position in Onsemi in the 1st quarter worth approximately $808,000. Finally, Meeder Asset Management Inc. boosted its holdings in Onsemi by 42.9% in the 1st quarter. Meeder Asset Management Inc. now owns 26,029 shares of the semiconductor company’s stock worth $1,914,000 after acquiring an additional 7,820 shares during the period. Institutional investors and hedge funds own 97.70% of the company’s stock.

Onsemi Company Profile

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.