Onsemi (NASDAQ:ON) Rating Reiterated by BNP Paribas

BNP Paribas reiterated their underperform rating on shares of Onsemi (NASDAQ:ON) in a research report released on Friday morning, Marketbeat reports. They currently have a $55.00 price objective on the semiconductor company’s stock.

ON has been the topic of several other reports. Stifel Nicolaus reduced their price target on Onsemi from $82.00 to $72.00 and set a hold rating on the stock in a report on Thursday, April 18th. Rosenblatt Securities reissued a neutral rating and issued a $75.00 price objective on shares of Onsemi in a research report on Tuesday, February 6th. Mizuho cut their price target on Onsemi from $98.00 to $92.00 and set a buy rating on the stock in a report on Tuesday, February 6th. Needham & Company LLC reiterated a buy rating and issued a $92.00 price objective on shares of Onsemi in a research note on Tuesday, February 6th. Finally, Truist Financial decreased their price objective on Onsemi from $94.00 to $89.00 and set a buy rating for the company in a report on Tuesday, February 6th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $96.28.

Onsemi Price Performance

Onsemi stock opened at $60.65 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.74 and a current ratio of 2.71. The stock has a market capitalization of $26.07 billion, a P/E ratio of 12.40, a price-to-earnings-growth ratio of 5.92 and a beta of 1.80. Onsemi has a 52 week low of $59.34 and a 52 week high of $111.35. The stock has a fifty day moving average of $74.26 and a 200-day moving average of $76.05.

Onsemi (NASDAQ:ON) last issued its earnings results on Monday, February 5th. The semiconductor company reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.04. Onsemi had a net margin of 26.46% and a return on equity of 31.36%. The firm had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2 billion. During the same quarter last year, the business posted $1.32 earnings per share. The company’s quarterly revenue was down 4.1% on a year-over-year basis. On average, sell-side analysts expect that Onsemi will post 4.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Onsemi

Several large investors have recently modified their holdings of the stock. Capital World Investors purchased a new stake in Onsemi during the fourth quarter valued at about $697,276,000. Norges Bank bought a new stake in shares of Onsemi in the fourth quarter valued at approximately $418,102,000. Invesco Ltd. lifted its stake in shares of Onsemi by 26.0% during the 3rd quarter. Invesco Ltd. now owns 5,812,863 shares of the semiconductor company’s stock valued at $540,306,000 after buying an additional 1,200,723 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings 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 worth $195,124,000 after buying an additional 828,944 shares during the period. Finally, Ameriprise Financial Inc. grew its stake in Onsemi by 23.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,272,182 shares of the semiconductor company’s stock valued at $397,108,000 after buying an additional 817,237 shares in the last quarter. Hedge funds and other 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.