Onsemi (NASDAQ:ON) Earns Equal Weight Rating from Analysts at Morgan Stanley

Equities research analysts at Morgan Stanley initiated coverage on shares of Onsemi (NASDAQ:ON) in a research report issued on Monday. The brokerage set an “equal weight” rating and a $39.00 price target on the semiconductor company’s stock. Morgan Stanley’s price target would suggest a potential downside of 14.79% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on the stock. Robert W. Baird lowered their price target on shares of Onsemi from $42.00 to $34.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 6th. UBS Group decreased their price objective on shares of Onsemi from $55.00 to $40.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 29th. Roth Mkm decreased their price objective on shares of Onsemi from $100.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. B. Riley lowered shares of Onsemi from a “buy” rating to a “neutral” rating and set a $41.00 price objective on the stock. in a research report on Thursday, April 24th. Finally, Craig Hallum reduced their target price on shares of Onsemi from $78.00 to $50.00 and set a “hold” rating on the stock in a report on Tuesday, February 11th. Eleven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $54.12.

Onsemi Stock Performance

Shares of ON opened at $45.77 on Monday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.38 and a current ratio of 5.06. The stock has a market capitalization of $19.13 billion, a P/E ratio of 12.61, a P/E/G ratio of 16.74 and a beta of 1.39. The company’s fifty day moving average is $39.72 and its two-hundred day moving average is $53.56. Onsemi has a 1 year low of $31.04 and a 1 year high of $80.08.

Onsemi (NASDAQ:ON) last posted its quarterly earnings results on Monday, May 5th. The semiconductor company reported $0.55 earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $1.40 billion. During the same period in the prior year, the company posted $1.08 EPS. The business’s revenue for the quarter was down 22.4% on a year-over-year basis. On average, sell-side analysts predict that Onsemi will post 2.6 earnings per share for the current year.

Hedge Funds Weigh In On Onsemi

Several institutional investors and hedge funds have recently bought and sold shares of the business. Blue Trust Inc. boosted its position in Onsemi by 16.1% during the fourth quarter. Blue Trust Inc. now owns 8,076 shares of the semiconductor company’s stock worth $509,000 after purchasing an additional 1,119 shares during the period. Oak Thistle LLC acquired a new position in Onsemi during the fourth quarter worth $515,000. Deltec Asset Management LLC acquired a new position in Onsemi during the fourth quarter worth $6,343,000. Wedge Capital Management L L P NC raised its stake in Onsemi by 40.4% during the fourth quarter. Wedge Capital Management L L P NC now owns 27,964 shares of the semiconductor company’s stock worth $1,763,000 after acquiring an additional 8,043 shares in the last quarter. Finally, Olstein Capital Management L.P. acquired a new stake in shares of Onsemi in the fourth quarter valued at $4,792,000. Hedge funds and other institutional investors 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.