Onsemi (NASDAQ:ON) Receives $85.87 Average Price Target from Brokerages

Shares of Onsemi (NASDAQ:ON) have received a consensus rating of “Moderate Buy” from the twenty-three ratings firms that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, five have issued a hold rating and sixteen have issued a buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $85.87.

A number of brokerages have issued reports on ON. Wells Fargo & Company began coverage on shares of Onsemi in a research report on Friday. They issued an “overweight” rating and a $85.00 price objective for the company. Benchmark reaffirmed a “buy” rating and set a $90.00 price target on shares of Onsemi in a research report on Tuesday, October 29th. BNP Paribas cut their price objective on Onsemi from $60.00 to $55.00 in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft upped their price objective on Onsemi from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Finally, Bank of America boosted their price target on shares of Onsemi from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th.

Onsemi Stock Up 4.0 %

ON stock opened at $72.39 on Friday. The stock’s 50 day moving average is $70.25 and its 200-day moving average is $71.81. Onsemi has a twelve month low of $59.34 and a twelve month high of $86.77. The firm has a market capitalization of $30.82 billion, a PE ratio of 17.96, a P/E/G ratio of 7.47 and a beta of 1.65. The company has a quick ratio of 2.02, a current ratio of 3.07 and a debt-to-equity ratio of 0.30.

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

Insider Buying and Selling

In related news, CEO Hassane El-Khoury sold 1,500 shares of the company’s 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 sale, the chief executive officer now owns 839,210 shares of the company’s stock, valued at approximately $61,018,959.10. This represents a 0.18 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.31% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC boosted its stake in Onsemi by 3.0% during the third quarter. Geode Capital Management LLC now owns 10,602,000 shares of the semiconductor company’s stock valued at $767,646,000 after buying an additional 309,445 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Onsemi by 18.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,217,221 shares of the semiconductor company’s stock valued at $289,088,000 after acquiring an additional 665,633 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of Onsemi by 26.4% during the 3rd quarter. Van ECK Associates Corp now owns 3,495,056 shares of the semiconductor company’s stock valued at $237,559,000 after acquiring an additional 729,081 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Onsemi by 14.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,968,160 shares of the semiconductor company’s stock worth $215,518,000 after purchasing an additional 380,471 shares in the last quarter. Finally, Earnest Partners LLC increased its position in shares of Onsemi by 6.7% in the first quarter. Earnest Partners LLC now owns 2,596,042 shares of the semiconductor company’s stock worth $190,939,000 after purchasing an additional 161,987 shares during the last quarter. Institutional investors 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.