Recent Analysts’ Ratings Changes for Onsemi (ON)

Onsemi (NASDAQ: ON) has recently received a number of price target changes and ratings updates:

• 4/23/2024 – Onsemi had its price target lowered by analysts at Wells Fargo & Company from $110.00 to $95.00. They now have an “overweight” rating on the stock.
• 4/22/2024 – Onsemi had its price target lowered by analysts at Morgan Stanley from $80.00 to $70.00. They now have an “equal weight” rating on the stock.
• 4/19/2024 – Onsemi had its “underperform” rating reaffirmed by analysts at BNP Paribas. They now have a $55.00 price target on the stock.
• 4/18/2024 – Onsemi had its price target lowered by analysts at Stifel Nicolaus from $82.00 to $72.00. They now have a “hold” rating on the stock.
• 4/16/2024 – Onsemi is now covered by analysts at Evercore ISI. They set an “outperform” rating and a $104.00 price target on the stock.
• 4/16/2024 – Onsemi had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $91.00 to $81.00. They now have a “buy” rating on the stock.
• 4/8/2024 – Onsemi had its “positive” rating reaffirmed by analysts at Susquehanna. They now have a $90.00 price target on the stock.
• 3/14/2024 – Onsemi had its “hold” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $82.00 price target on the stock.

Onsemi Trading Up 1.7 %

ON stock traded up $1.03 during midday trading on Tuesday, hitting $61.68. The stock had a trading volume of 6,890,262 shares, compared to its average volume of 7,314,261. The firm has a market cap of $26.51 billion, a PE ratio of 12.61, a price-to-earnings-growth ratio of 5.92 and a beta of 1.80. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.71 and a quick ratio of 1.74. Onsemi has a 12-month low of $59.34 and a 12-month high of $111.35. The company’s 50-day moving average price is $74.26 and its 200 day moving average price is $76.05.

Onsemi (NASDAQ:ON) last announced its quarterly earnings data on Monday, February 5th. The semiconductor company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.04. Onsemi had a net margin of 26.46% and a return on equity of 31.36%. The company had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $2 billion. During the same period in the previous year, the company earned $1.32 EPS. The business’s quarterly revenue was down 4.1% compared to the same quarter last year. On average, equities research analysts predict that Onsemi will post 4.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ON. Capital World Investors acquired a new position in shares of Onsemi during the fourth quarter valued at approximately $697,276,000. Norges Bank acquired a new position in Onsemi in the fourth quarter worth approximately $418,102,000. Invesco Ltd. grew its position in Onsemi by 26.0% in the third 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 during the last quarter. Allspring Global Investments Holdings LLC grew its position in Onsemi by 55.0% in the fourth 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 last quarter. Finally, Ameriprise Financial Inc. grew its position in Onsemi by 23.7% in the third quarter. Ameriprise Financial Inc. now owns 4,272,182 shares of the semiconductor company’s stock worth $397,108,000 after buying an additional 817,237 shares during the last quarter. Institutional investors and hedge funds own 97.70% of the company’s stock.

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.