Needham & Company LLC Reaffirms “Buy” Rating for Onsemi (NASDAQ:ON)

Needham & Company LLC reaffirmed their buy rating on shares of Onsemi (NASDAQ:ON) in a research report sent to investors on Thursday morning, Benzinga reports. They currently have a $92.00 target price on the semiconductor company’s stock.

Several other equities research analysts have also recently weighed in on the stock. KeyCorp lowered their price target on shares of Onsemi from $100.00 to $90.00 and set an overweight rating for the company in a research report on Tuesday, April 30th. BNP Paribas reaffirmed an underperform rating and set a $55.00 price objective on shares of Onsemi in a research report on Friday, April 19th. Stifel Nicolaus decreased their price target on shares of Onsemi from $82.00 to $72.00 and set a hold rating for the company in a research report on Thursday, April 18th. StockNews.com raised shares of Onsemi from a sell rating to a hold rating in a report on Wednesday, February 14th. Finally, Rosenblatt Securities decreased their price objective on Onsemi from $75.00 to $70.00 and set a neutral rating for the company in a report on Tuesday, April 30th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $90.28.

Onsemi Trading Down 4.1 %

Shares of Onsemi stock opened at $71.97 on Thursday. Onsemi has a twelve month low of $59.34 and a twelve month high of $111.35. The company has a quick ratio of 1.87, a current ratio of 2.87 and a debt-to-equity ratio of 0.32. The business has a 50-day moving average price of $70.42 and a 200-day moving average price of $74.77. The firm has a market cap of $30.96 billion, a price-to-earnings ratio of 14.69, a PEG ratio of 3.42 and a beta of 1.71.

Onsemi (NASDAQ:ON) last posted its earnings results on Monday, April 29th. The semiconductor company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.04. The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.85 billion. Onsemi had a net margin of 26.67% and a return on equity of 28.86%. Onsemi’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same period last year, the firm posted $1.19 earnings per share. Equities research analysts anticipate that Onsemi will post 3.83 EPS for the current fiscal year.

Insider Buying and Selling

In other Onsemi news, CFO Trent Thad sold 38,000 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $72.55, for a total value of $2,756,900.00. Following the transaction, the chief financial officer now owns 331,829 shares in the company, valued at approximately $24,074,193.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Onsemi news, Director Paul Anthony Mascarenas sold 911 shares of the business’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $74.46, for a total transaction of $67,833.06. Following the transaction, the director now owns 48,929 shares of the company’s stock, valued at $3,643,253.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Trent Thad sold 38,000 shares of Onsemi stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $72.55, for a total value of $2,756,900.00. Following the transaction, the chief financial officer now owns 331,829 shares in the company, valued at approximately $24,074,193.95. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Onsemi

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Apollon Wealth Management LLC lifted its position in shares of Onsemi by 26.4% during the fourth quarter. Apollon Wealth Management LLC now owns 7,089 shares of the semiconductor company’s stock worth $592,000 after purchasing an additional 1,482 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in Onsemi by 7,749.6% during the 4th quarter. International Assets Investment Management LLC now owns 83,363 shares of the semiconductor company’s stock worth $6,963,000 after buying an additional 82,301 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Onsemi by 8.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 456,999 shares of the semiconductor company’s stock valued at $38,188,000 after buying an additional 35,362 shares during the period. Harvest Fund Management Co. Ltd boosted its position in Onsemi by 7.1% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 9,610 shares of the semiconductor company’s stock valued at $798,000 after buying an additional 637 shares during the period. Finally, State of Michigan Retirement System grew its stake in shares of Onsemi by 3.6% in the fourth quarter. State of Michigan Retirement System now owns 140,536 shares of the semiconductor company’s stock worth $11,739,000 after acquiring an additional 4,900 shares in the last quarter. 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.