Onsemi’s (ON) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Onsemi (NASDAQ:ON) in a research report released on Thursday, Benzinga reports. Needham & Company LLC currently has a $92.00 price target on the semiconductor company’s stock.

A number of other brokerages have also recently weighed in on ON. StockNews.com raised shares of Onsemi from a sell rating to a hold rating in a research note on Wednesday, February 14th. Susquehanna lowered their target price on shares of Onsemi from $90.00 to $85.00 and set a positive rating for the company in a report on Tuesday, April 30th. Morgan Stanley decreased their price target on shares of Onsemi from $80.00 to $70.00 and set an equal weight rating on the stock in a report on Monday, April 22nd. Rosenblatt Securities cut their price objective on Onsemi from $75.00 to $70.00 and set a neutral rating on the stock in a report on Tuesday, April 30th. Finally, Wells Fargo & Company decreased their target price on Onsemi from $110.00 to $95.00 and set an overweight rating for the company in a report on Tuesday, April 23rd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $90.28.

Onsemi Trading Down 4.1 %

NASDAQ:ON opened at $71.97 on Thursday. The company has a market capitalization of $30.96 billion, a PE ratio of 14.69, a P/E/G ratio of 3.28 and a beta of 1.71. Onsemi has a 52-week low of $59.34 and a 52-week high of $111.35. The stock’s 50 day moving average price is $70.42 and its 200 day moving average price is $74.79. The company has a quick ratio of 1.87, a current ratio of 2.87 and a debt-to-equity ratio of 0.32.

Onsemi (NASDAQ:ON) last issued its quarterly earnings results on Monday, April 29th. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.04. Onsemi had a return on equity of 28.86% and a net margin of 26.67%. The firm had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.85 billion. During the same quarter in the previous year, the firm posted $1.19 EPS. The firm’s revenue for the quarter was down 4.9% on a year-over-year basis. On average, research analysts anticipate that Onsemi will post 3.83 EPS for the current year.

Insider Activity at Onsemi

In other news, CFO Trent Thad sold 38,000 shares of Onsemi stock in a transaction that occurred 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 transaction, the chief financial officer now owns 331,829 shares of the company’s stock, valued at $24,074,193.95. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Onsemi news, 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 value of $67,833.06. Following the sale, the director now directly owns 48,929 shares in the company, valued at approximately $3,643,253.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Trent Thad sold 38,000 shares of the stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $72.55, for a total transaction 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 disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Capital World Investors acquired a new stake in shares of Onsemi during the fourth quarter worth approximately $697,276,000. Norges Bank acquired a new stake in shares of Onsemi in the fourth quarter valued at $418,102,000. Swedbank AB bought a new position in shares of Onsemi in the first quarter valued at about $90,274,000. Invesco Ltd. lifted its position in Onsemi by 26.0% during the 3rd quarter. Invesco Ltd. now owns 5,812,863 shares of the semiconductor company’s stock worth $540,306,000 after buying an additional 1,200,723 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in Onsemi by 55.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,335,975 shares of the semiconductor company’s stock valued at $195,124,000 after acquiring an additional 828,944 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.