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

StockNews.com cut shares of Onsemi (NASDAQ:ON) from a hold rating to a sell rating in a research report released on Monday morning.

A number of other equities analysts also recently commented on ON. TD Cowen raised their target price on shares of Onsemi from $85.00 to $90.00 and gave the company a buy rating in a research note on Tuesday, July 30th. Susquehanna upped their target price on Onsemi from $85.00 to $95.00 and gave the stock a positive rating in a research report on Wednesday, July 17th. Mizuho dropped their target price on Onsemi from $92.00 to $87.00 and set a buy rating on the stock in a report on Tuesday, April 30th. Truist Financial increased their price objective on shares of Onsemi from $85.00 to $97.00 and gave the company a buy rating in a research report on Tuesday, July 30th. Finally, Benchmark boosted 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, July 30th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $85.61.

Onsemi Price Performance

Shares of Onsemi stock opened at $74.63 on Monday. The business’s fifty day moving average price is $72.79 and its 200 day moving average price is $73.02. Onsemi has a twelve month low of $59.34 and a twelve month high of $101.30. The company has a current ratio of 3.01, a quick ratio of 1.95 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $32.11 billion, a P/E ratio of 15.23, a PEG ratio of 4.07 and a beta of 1.69.

Onsemi (NASDAQ:ON) last released its quarterly earnings data on Monday, July 29th. The semiconductor company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.04. The business had revenue of $1.74 billion for 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 was down 17.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.33 EPS. As a group, research analysts anticipate that Onsemi will post 4.01 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Trent Thad sold 38,000 shares of Onsemi stock in a transaction dated 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 transaction, the chief financial officer now directly owns 331,829 shares of the company’s stock, valued at approximately $24,074,193.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related 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 sale, the chief financial officer now owns 331,829 shares of the company’s stock, valued at approximately $24,074,193.95. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Simon Keeton sold 30,939 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $77.94, for a total value of $2,411,385.66. Following the transaction, the insider now owns 231,092 shares of the company’s stock, valued at approximately $18,011,310.48. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.

Institutional Trading of Onsemi

Several hedge funds have recently bought and sold shares of the company. MeadowBrook Investment Advisors LLC acquired a new stake in shares of Onsemi in the fourth quarter valued at approximately $33,000. Private Wealth Management Group LLC acquired a new position in Onsemi during the 4th quarter worth $33,000. Westside Investment Management Inc. grew its stake in shares of Onsemi by 5,500.0% in the first quarter. Westside Investment Management Inc. now owns 560 shares of the semiconductor company’s stock worth $41,000 after purchasing an additional 550 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its holdings in shares of Onsemi by 36.7% during the second quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 169 shares during the period. Finally, International Assets Investment Management LLC bought a new stake in shares of Onsemi during the second quarter valued at about $43,000. 97.70% of the stock is currently owned by institutional investors.

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.