JPMorgan Chase & Co. Increases Onsemi (NASDAQ:ON) Price Target to $88.00

Onsemi (NASDAQ:ON) had its price target upped by analysts at JPMorgan Chase & Co. from $85.00 to $88.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the semiconductor company’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 12.46% from the company’s current price.

A number of other equities analysts have also weighed in on the stock. KeyCorp cut their target price on shares of Onsemi from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Tuesday, July 9th. Mizuho cut their price objective on shares of Onsemi from $92.00 to $87.00 and set a “buy” rating for the company in a research report on Tuesday, April 30th. Citigroup lowered shares of Onsemi from a “buy” rating to a “neutral” rating and cut their price objective for the company from $85.00 to $77.00 in a research report on Monday, July 15th. Jefferies Financial Group initiated coverage on shares of Onsemi in a research report on Monday, May 13th. They issued a “buy” rating and a $100.00 price objective for the company. Finally, B. Riley restated a “buy” rating and issued a $103.00 price objective (down from $115.00) on shares of Onsemi in a research report on Tuesday, April 30th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, Onsemi presently has an average rating of “Hold” and an average price target of $86.63.

Onsemi Stock Performance

NASDAQ ON opened at $78.25 on Tuesday. Onsemi has a 52-week low of $59.34 and a 52-week high of $111.35. The company has a 50-day simple moving average of $72.65 and a 200 day simple moving average of $73.19. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.87 and a current ratio of 2.87. The company has a market capitalization of $33.67 billion, a PE ratio of 15.97, a price-to-earnings-growth ratio of 3.40 and a beta of 1.69.

Onsemi (NASDAQ:ON) last posted its quarterly earnings data on Monday, July 29th. The semiconductor company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. Onsemi had a net margin of 24.84% and a return on equity of 25.92%. The business had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter last year, the company posted $1.33 earnings per share. The firm’s quarterly revenue was down 17.2% compared to the same quarter last year. On average, research analysts predict that Onsemi will post 4.02 EPS for the current year.

Insiders Place Their Bets

In other Onsemi news, CFO Trent Thad sold 38,000 shares of Onsemi stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $72.55, for a total transaction of $2,756,900.00. Following the transaction, 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 Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Trent Thad sold 38,000 shares of Onsemi stock in a transaction on Tuesday, June 11th. The shares were 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 directly owns 331,829 shares of the company’s stock, valued at $24,074,193.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Paul Anthony Mascarenas sold 911 shares of Onsemi 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 completion of the transaction, the director now directly owns 48,929 shares in the company, valued at $3,643,253.34. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Turtle Creek Wealth Advisors LLC purchased a new position in Onsemi during the 4th quarter valued at $32,000. Private Wealth Management Group LLC bought a new stake in shares of Onsemi during the 4th quarter valued at $33,000. MeadowBrook Investment Advisors LLC bought a new stake in shares of Onsemi during the 4th quarter valued at $33,000. Westside Investment Management Inc. boosted its holdings in shares of Onsemi by 5,500.0% during the 1st quarter. Westside Investment Management Inc. now owns 560 shares of the semiconductor company’s stock valued at $41,000 after buying an additional 550 shares in the last quarter. Finally, Fidelis Capital Partners LLC bought a new stake in shares of Onsemi during the 1st quarter valued at $45,000. 97.70% of the stock is owned by hedge funds and other institutional investors.

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.