Onsemi’s (ON) “Hold” Rating Reaffirmed at Truist Financial

Truist Financial reissued their hold rating on shares of Onsemi (NASDAQ:ON) in a research report report published on Friday morning, Marketbeat reports. Truist Financial currently has a $60.00 price target on the semiconductor company’s stock, down from their prior price target of $85.00.

Several other equities analysts have also recently commented on ON. Rosenblatt Securities reaffirmed a “neutral” rating and set a $75.00 price target on shares of Onsemi in a research report on Tuesday, October 29th. Mizuho set a $85.00 target price on Onsemi in a report on Friday, October 18th. StockNews.com upgraded Onsemi from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. KeyCorp reduced their price objective on Onsemi from $95.00 to $90.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 8th. Finally, BNP Paribas lowered their target price on shares of Onsemi from $60.00 to $55.00 in a research note on Friday, October 25th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $84.43.

Onsemi Trading Down 7.5 %

Shares of ON opened at $53.94 on Friday. Onsemi has a one year low of $53.60 and a one year high of $85.16. The stock has a 50-day moving average price of $67.20 and a 200 day moving average price of $70.35. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.02 and a current ratio of 3.07. The company has a market capitalization of $22.97 billion, a P/E ratio of 13.38, a P/E/G ratio of 7.07 and a beta of 1.64.

Onsemi (NASDAQ:ON) last released its earnings results on Monday, October 28th. The semiconductor company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.97 by $0.02. The company had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.75 billion. Onsemi had a return on equity of 22.38% and a net margin of 23.80%. The business’s revenue was down 19.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.39 EPS. Sell-side analysts forecast that Onsemi will post 4 EPS for the current fiscal year.

Insider Activity at Onsemi

In other news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $71.00, for a total value of $106,500.00. Following the transaction, the chief executive officer now owns 837,710 shares of the company’s stock, valued at $59,477,410. The trade was a 0.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Capital Performance Advisors LLP bought a new stake in shares of Onsemi during the 3rd quarter worth $27,000. Ashton Thomas Securities LLC acquired a new position in shares of Onsemi in the 3rd quarter valued at $33,000. GHP Investment Advisors Inc. increased its stake in Onsemi by 12,850.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 518 shares of the semiconductor company’s stock worth $38,000 after purchasing an additional 514 shares in the last quarter. Safe Harbor Fiduciary LLC purchased a new stake in Onsemi during the third quarter valued at about $43,000. Finally, Massmutual Trust Co. FSB ADV boosted its holdings in shares of Onsemi by 42.8% in the third quarter. Massmutual Trust Co. FSB ADV now owns 898 shares of the semiconductor company’s stock worth $65,000 after buying an additional 269 shares during the period. Institutional investors and hedge funds own 97.70% of the company’s stock.

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.