Onsemi (NASDAQ:ON) Receives $85.43 Consensus PT from Analysts

Shares of Onsemi (NASDAQ:ON) have received an average recommendation of “Moderate Buy” from the twenty-two analysts that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and fifteen have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $85.91.

A number of equities analysts have issued reports on the company. Citigroup downgraded Onsemi from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $85.00 to $77.00 in a research report on Monday, July 15th. Morgan Stanley increased their price target on Onsemi from $63.00 to $64.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 29th. Mizuho set a $85.00 price target on Onsemi in a research report on Friday, October 18th. Bank of America increased their target price on Onsemi from $80.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Onsemi from $85.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, July 30th.

Onsemi Stock Down 2.1 %

Shares of ON opened at $69.50 on Tuesday. Onsemi has a 52 week low of $59.34 and a 52 week high of $86.77. The company has a quick ratio of 2.02, a current ratio of 3.07 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $29.59 billion, a price-to-earnings ratio of 17.25, a PEG ratio of 7.61 and a beta of 1.65. The stock’s 50-day moving average price is $71.27 and its 200-day moving average price is $71.62.

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

Insiders Place Their Bets

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $72.71, for a total transaction of $109,065.00. Following the completion of the sale, the chief executive officer now owns 839,210 shares of the company’s stock, valued at $61,018,959.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.31% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Entropy Technologies LP purchased a new position in shares of Onsemi during the third quarter worth $2,147,000. Apollon Wealth Management LLC boosted its position in shares of Onsemi by 75.1% during the third quarter. Apollon Wealth Management LLC now owns 10,652 shares of the semiconductor company’s stock worth $773,000 after buying an additional 4,569 shares during the period. Ashton Thomas Securities LLC purchased a new position in shares of Onsemi during the third quarter worth $33,000. Jensen Investment Management Inc. boosted its position in shares of Onsemi by 20.1% during the third quarter. Jensen Investment Management Inc. now owns 40,710 shares of the semiconductor company’s stock worth $2,956,000 after buying an additional 6,820 shares during the period. Finally, Sanctuary Wealth Management L.L.C. boosted its holdings in Onsemi by 5.0% in the third quarter. Sanctuary Wealth Management L.L.C. now owns 23,166 shares of the semiconductor company’s stock valued at $1,682,000 after purchasing an additional 1,100 shares during the period. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

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.