Onsemi (NASDAQ:ON) Given Average Rating of “Moderate Buy” by Brokerages

Onsemi (NASDAQ:ON) has been given a consensus recommendation of “Moderate Buy” by the twenty-four brokerages that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $85.61.

Several analysts have recently commented on ON shares. StockNews.com raised shares of Onsemi from a “sell” rating to a “hold” rating in a research report on Friday. Bank of America lifted their target price on Onsemi from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Benchmark increased their price target on Onsemi from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Onsemi from $85.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Finally, Susquehanna increased their target price on shares of Onsemi from $85.00 to $95.00 and gave the stock a “positive” rating in a research note on Wednesday, July 17th.

Onsemi Stock Performance

NASDAQ ON opened at $77.72 on Thursday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.95 and a current ratio of 3.01. The stock’s fifty day moving average is $72.34 and its two-hundred day moving average is $73.03. The firm has a market capitalization of $33.29 billion, a P/E ratio of 15.86, a price-to-earnings-growth ratio of 3.33 and a beta of 1.69. Onsemi has a fifty-two week low of $59.34 and a fifty-two week high of $101.30.

Onsemi (NASDAQ:ON) last announced its quarterly earnings results 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. Onsemi had a net margin of 24.84% and a return on equity of 25.48%. The firm had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the previous year, the company posted $1.33 EPS. The company’s revenue was down 17.2% compared to the same quarter last year. On average, research analysts anticipate that Onsemi will post 4.01 earnings per share for the current year.

Insider Buying and Selling at Onsemi

In other news, CFO Trent Thad sold 38,000 shares of the company’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $72.55, for a total transaction 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 legal filing with the SEC, which is available at this hyperlink. In other news, CFO Trent Thad sold 38,000 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $24,074,193.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Simon Keeton sold 30,939 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $77.94, for a total transaction of $2,411,385.66. Following the completion of 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 insiders.

Institutional Trading of Onsemi

Institutional investors and hedge funds have recently made changes to their positions in the company. Capital World Investors acquired a new position in Onsemi during the fourth quarter worth approximately $697,276,000. Norges Bank acquired a new position in shares of Onsemi in the 4th quarter valued at $418,102,000. Swedbank AB purchased a new stake in Onsemi in the 1st quarter valued at $90,274,000. American Century Companies Inc. boosted its stake in Onsemi by 451.3% during the 2nd quarter. American Century Companies Inc. now owns 1,111,112 shares of the semiconductor company’s stock worth $76,167,000 after purchasing an additional 909,558 shares during the period. Finally, Rafferty Asset Management LLC grew its position in Onsemi by 35.6% during the 4th quarter. Rafferty Asset Management LLC now owns 2,989,554 shares of the semiconductor company’s stock worth $249,717,000 after purchasing an additional 785,305 shares during the last quarter. 97.70% of the stock is owned by hedge funds and other 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.