Truist Financial Boosts Onsemi (NASDAQ:ON) Price Target to $97.00

Onsemi (NASDAQ:ON) had its price objective lifted by Truist Financial from $85.00 to $97.00 in a research report released on Tuesday morning, Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

A number of other analysts have also recently weighed in on the stock. Wells Fargo & Company decreased their target price on shares of Onsemi from $110.00 to $95.00 and set an overweight rating on the stock in a research note on Tuesday, April 23rd. Mizuho lowered their target price on Onsemi from $92.00 to $87.00 and set a buy rating for the company in a report on Tuesday, April 30th. Susquehanna lifted their price target on Onsemi from $85.00 to $95.00 and gave the company a positive rating in a research note on Wednesday, July 17th. TD Cowen upped their price objective on Onsemi from $85.00 to $90.00 and gave the company a buy rating in a research note on Tuesday. Finally, Benchmark lifted their target price on shares of Onsemi from $80.00 to $90.00 and gave the stock a buy rating in a research report on Tuesday. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $85.61.

Onsemi Trading Down 8.1 %

Shares of ON opened at $71.90 on Tuesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.87 and a current ratio of 3.01. Onsemi has a 52-week low of $59.34 and a 52-week high of $107.16. The firm has a market cap of $30.80 billion, a price-to-earnings ratio of 14.67, a PEG ratio of 3.40 and a beta of 1.69. The business’s fifty day moving average is $72.69 and its 200-day moving average is $73.23.

Onsemi (NASDAQ:ON) last issued its earnings results on Monday, July 29th. The semiconductor company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.92 by $0.04. Onsemi had a return on equity of 25.48% and a net margin of 24.84%. The firm had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the previous year, the firm earned $1.33 earnings per share. The business’s quarterly revenue was down 17.2% on a year-over-year basis. Equities analysts anticipate that Onsemi will post 4.01 EPS for the current fiscal year.

Insider Transactions at Onsemi

In related news, Director Paul Anthony Mascarenas sold 911 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $74.46, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 completion of the sale, the chief financial officer now owns 331,829 shares of the company’s stock, valued at approximately $24,074,193.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Paul Anthony Mascarenas sold 911 shares of the firm’s stock in a transaction on Thursday, May 16th. The shares were 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.

Hedge Funds Weigh In On Onsemi

Hedge funds have recently added to or reduced their stakes in the stock. Capital World Investors bought a new position in shares of Onsemi in the fourth quarter valued at approximately $697,276,000. Norges Bank purchased a new stake in Onsemi in the 4th quarter valued at $418,102,000. Swedbank AB bought a new position in Onsemi during the 1st quarter valued at $90,274,000. Allspring Global Investments Holdings LLC boosted its holdings in Onsemi by 55.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,335,975 shares of the semiconductor company’s stock worth $195,124,000 after acquiring an additional 828,944 shares during the last quarter. Finally, Rafferty Asset Management LLC grew its stake in shares of Onsemi by 35.6% in the 4th quarter. Rafferty Asset Management LLC now owns 2,989,554 shares of the semiconductor company’s stock worth $249,717,000 after acquiring an additional 785,305 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.