Onsemi (NASDAQ:ON) Earns “Buy” Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Onsemi (NASDAQ:ON) in a research note released on Tuesday,Benzinga reports. The brokerage currently has a $87.00 target price on the semiconductor company’s stock.

A number of other equities research analysts have also recently weighed in on ON. Loop Capital started coverage on Onsemi in a report on Monday, November 11th. They issued a “buy” rating and a $95.00 price target on the stock. Bank of America raised their price target on Onsemi from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. BNP Paribas decreased their price objective on shares of Onsemi from $60.00 to $55.00 in a research report on Friday, October 25th. JPMorgan Chase & Co. raised their target price on shares of Onsemi from $85.00 to $88.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Finally, Benchmark reaffirmed a “buy” rating and issued a $90.00 price target on shares of Onsemi in a report on Tuesday, October 29th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, Onsemi currently has a consensus rating of “Moderate Buy” and a consensus target price of $86.30.

Onsemi Price Performance

Shares of ON opened at $68.32 on Tuesday. The company has a current ratio of 3.07, a quick ratio of 2.02 and a debt-to-equity ratio of 0.30. The stock’s 50 day moving average is $70.25 and its two-hundred day moving average is $71.79. Onsemi has a twelve month low of $59.34 and a twelve month high of $86.77. The firm has a market capitalization of $29.09 billion, a PE ratio of 16.95, a P/E/G ratio of 7.15 and a beta of 1.65.

Onsemi (NASDAQ:ON) last posted its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.02. Onsemi had a return on equity of 22.38% and a net margin of 23.80%. The firm had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.75 billion. During the same period in the previous year, the business earned $1.39 earnings per share. The company’s revenue for the quarter was down 19.2% compared to the same quarter last year. Research analysts anticipate that Onsemi will post 4 earnings per share for the current year.

Insider Transactions at Onsemi

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $72.71, for a total transaction of $109,065.00. Following the transaction, the chief executive officer now directly owns 839,210 shares of the company’s stock, valued at $61,018,959.10. The trade was a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Onsemi

Hedge funds and other institutional investors have recently made changes to their positions in the business. Capital Performance Advisors LLP purchased a new stake in shares of Onsemi during the 3rd quarter valued at about $27,000. Ashton Thomas Securities LLC purchased a new position in shares of Onsemi in the third quarter valued at $33,000. GHP Investment Advisors Inc. increased its stake in Onsemi by 12,850.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 518 shares of the semiconductor company’s stock worth $38,000 after buying an additional 514 shares during the period. Massmutual Trust Co. FSB ADV lifted its holdings in Onsemi by 36.7% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock worth $43,000 after buying an additional 169 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in shares of Onsemi during the second quarter valued at about $43,000. 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.