StockNews.com Lowers Onsemi (NASDAQ:ON) to Sell

StockNews.com downgraded shares of Onsemi (NASDAQ:ON) from a hold rating to a sell rating in a report issued on Tuesday.

A number of other research analysts also recently commented on ON. The Goldman Sachs Group reduced their price objective on shares of Onsemi from $91.00 to $81.00 and set a buy rating on the stock in a research note on Tuesday, April 16th. Needham & Company LLC reaffirmed a buy rating and set a $92.00 price target on shares of Onsemi in a research report on Thursday, June 13th. Morgan Stanley lowered Onsemi from an equal weight rating to an underweight rating and lowered their price objective for the company from $70.00 to $65.00 in a report on Thursday, July 11th. TD Cowen increased their target price on Onsemi from $85.00 to $90.00 and gave the stock a buy rating in a report on Tuesday. Finally, Rosenblatt Securities boosted their price target on Onsemi from $70.00 to $75.00 and gave the company a neutral rating in a 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 stock. According to MarketBeat.com, Onsemi presently has an average rating of Hold and a consensus target price of $85.61.

Onsemi Price Performance

ON opened at $67.95 on Tuesday. The company has a 50 day moving average of $72.60 and a two-hundred day moving average of $73.18. Onsemi has a 52-week low of $59.34 and a 52-week high of $104.87. The company has a quick ratio of 1.87, a current ratio of 3.01 and a debt-to-equity ratio of 0.31. The company has a market cap of $29.11 billion, a P/E ratio of 13.87, a P/E/G ratio of 3.40 and a beta of 1.69.

Onsemi (NASDAQ:ON) last posted its earnings results on Monday, July 29th. The semiconductor company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. The business had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.73 billion. Onsemi had a return on equity of 25.48% and a net margin of 24.84%. The company’s revenue for the quarter was down 17.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.33 earnings per share. On average, analysts expect that Onsemi will post 4.01 earnings per share for the current year.

Insider Activity

In other news, Director Paul Anthony Mascarenas sold 911 shares of the company’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 transaction, the director now owns 48,929 shares in the company, valued at approximately $3,643,253.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Paul Anthony Mascarenas sold 911 shares of the business’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 transaction, the director now directly owns 48,929 shares in the company, valued at approximately $3,643,253.34. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Trent Thad sold 38,000 shares of the 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 sale, the chief financial officer now owns 331,829 shares of the company’s stock, valued at $24,074,193.95. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 69,850 shares of company stock worth $5,236,119. 0.31% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Onsemi

Several institutional investors and hedge funds have recently modified their holdings of the business. Integrated Advisors Network LLC grew its holdings in Onsemi by 1.7% during the fourth quarter. Integrated Advisors Network LLC now owns 9,715 shares of the semiconductor company’s stock valued at $811,000 after purchasing an additional 164 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its stake in Onsemi by 36.7% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock valued at $43,000 after buying an additional 169 shares during the last quarter. Perigon Wealth Management LLC raised its holdings in Onsemi by 7.7% in the 4th quarter. Perigon Wealth Management LLC now owns 2,463 shares of the semiconductor company’s stock worth $206,000 after acquiring an additional 177 shares during the period. STF Management LP lifted its position in Onsemi by 2.5% during the 4th quarter. STF Management LP now owns 7,209 shares of the semiconductor company’s stock worth $602,000 after acquiring an additional 178 shares during the last quarter. Finally, Covestor Ltd boosted its holdings in Onsemi by 24.5% during the first quarter. Covestor Ltd now owns 965 shares of the semiconductor company’s stock valued at $71,000 after acquiring an additional 190 shares during the period. 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.