Onsemi (NASDAQ:ON) Given Average Rating of “Moderate Buy” by Analysts

Shares of Onsemi (NASDAQ:ON) have received a consensus rating of “Moderate Buy” from the twenty-five brokerages that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and fifteen have issued a buy recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $88.36.

Several research firms have weighed in on ON. Wells Fargo & Company cut their target price on Onsemi from $110.00 to $95.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 23rd. Citigroup lowered Onsemi from a “buy” rating to a “neutral” rating and cut their target price for the company from $85.00 to $77.00 in a research note on Monday, July 15th. Jefferies Financial Group began coverage on Onsemi in a research note on Monday, May 13th. They issued a “buy” rating and a $100.00 target price on the stock. Mizuho cut their target price on Onsemi from $92.00 to $87.00 and set a “buy” rating on the stock in a research note on Tuesday, April 30th. Finally, Truist Financial cut their target price on Onsemi from $89.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, April 30th.

Insider Activity

In other news, CFO Trent Thad sold 38,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 331,829 shares of the company’s stock, valued at $24,074,193.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Paul Anthony Mascarenas sold 911 shares of Onsemi stock in a transaction that occurred 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 completion of the sale, the director now directly owns 48,929 shares of the company’s stock, valued at approximately $3,643,253.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Trent Thad sold 38,000 shares of Onsemi stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 331,829 shares of the company’s stock, valued at $24,074,193.95. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Institutional Trading of Onsemi

Several hedge funds have recently added to or reduced their stakes in the company. HB Wealth Management LLC lifted its holdings in Onsemi by 53.5% during the 2nd quarter. HB Wealth Management LLC now owns 4,869 shares of the semiconductor company’s stock worth $334,000 after purchasing an additional 1,697 shares during the last quarter. Iridian Asset Management LLC CT increased its stake in Onsemi by 43.2% during the 2nd quarter. Iridian Asset Management LLC CT now owns 73,689 shares of the semiconductor company’s stock worth $5,051,000 after acquiring an additional 22,214 shares during the period. Simmons Bank increased its stake in Onsemi by 24.8% during the 2nd quarter. Simmons Bank now owns 19,139 shares of the semiconductor company’s stock worth $1,312,000 after acquiring an additional 3,808 shares during the period. State of Michigan Retirement System increased its stake in Onsemi by 0.9% during the 2nd quarter. State of Michigan Retirement System now owns 140,936 shares of the semiconductor company’s stock worth $9,661,000 after acquiring an additional 1,200 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in Onsemi by 3.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,587,689 shares of the semiconductor company’s stock worth $177,386,000 after acquiring an additional 94,281 shares during the period. 97.70% of the stock is owned by institutional investors and hedge funds.

Onsemi Trading Up 3.9 %

Shares of ON opened at $70.17 on Friday. The company has a quick ratio of 1.87, a current ratio of 2.87 and a debt-to-equity ratio of 0.32. Onsemi has a 12-month low of $59.34 and a 12-month high of $111.35. The firm has a market capitalization of $30.19 billion, a PE ratio of 14.32, a price-to-earnings-growth ratio of 3.05 and a beta of 1.69. The stock’s fifty day simple moving average is $72.55 and its 200-day simple moving average is $73.18.

Onsemi (NASDAQ:ON) last issued its quarterly earnings results on Monday, April 29th. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.04. Onsemi had a return on equity of 28.86% and a net margin of 26.67%. The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same quarter in the prior year, the firm posted $1.19 earnings per share. The firm’s revenue for the quarter was down 4.9% compared to the same quarter last year. As a group, research analysts predict that Onsemi will post 4.02 earnings per share 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.