Onsemi (NASDAQ:ON) Price Target Raised to $64.00

Onsemi (NASDAQ:ON) had its price target raised by Morgan Stanley from $63.00 to $64.00 in a research report released on Tuesday, Benzinga reports. They currently have an underweight rating on the semiconductor company’s stock.

A number of other research firms also recently issued reports on ON. Mizuho set a $85.00 price target on Onsemi in a research note on Friday, October 18th. StockNews.com lowered shares of Onsemi from a “hold” rating to a “sell” rating in a research report on Monday, August 26th. Benchmark raised their price objective on shares of Onsemi from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Citigroup cut shares of Onsemi from a “buy” rating to a “neutral” rating and reduced their target price for the company from $85.00 to $77.00 in a report on Monday, July 15th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Onsemi from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, Onsemi currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.91.

Onsemi Stock Down 4.3 %

ON stock opened at $70.49 on Tuesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.01 and a quick ratio of 1.95. Onsemi has a 1-year low of $59.34 and a 1-year high of $86.77. The stock has a market capitalization of $30.19 billion, a P/E ratio of 17.49, a P/E/G ratio of 3.82 and a beta of 1.65. The business has a fifty day moving average price of $71.43 and a 200-day moving average price of $71.49.

Onsemi (NASDAQ:ON) last posted its earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.02. Onsemi had a net margin of 24.84% and a return on equity of 25.48%. The business had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.75 billion. During the same quarter in the prior year, the business earned $1.39 EPS. The business’s revenue for the quarter was down 19.2% compared to the same quarter last year. Equities analysts forecast that Onsemi will post 4.01 earnings per share for the current fiscal year.

Insider Buying and Selling at Onsemi

In related news, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $72.71, for a total value of $109,065.00. Following the sale, the chief executive officer now directly owns 839,210 shares in the company, valued at approximately $61,018,959.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.31% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Onsemi

Several large investors have recently added to or reduced their stakes in the stock. Lifestyle Asset Management Inc. boosted its stake in Onsemi by 6.4% during the third quarter. Lifestyle Asset Management Inc. now owns 13,476 shares of the semiconductor company’s stock worth $978,000 after buying an additional 815 shares during the period. Avidian Wealth Enterprises LLC purchased a new position in shares of Onsemi during the 3rd quarter worth about $201,000. Sentry Investment Management LLC grew its holdings in Onsemi by 3.0% during the 3rd quarter. Sentry Investment Management LLC now owns 7,177 shares of the semiconductor company’s stock valued at $521,000 after purchasing an additional 209 shares during the last quarter. Catalyst Capital Advisors LLC lifted its stake in Onsemi by 235.0% in the third quarter. Catalyst Capital Advisors LLC now owns 1,387 shares of the semiconductor company’s stock worth $101,000 after purchasing an additional 973 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its position in shares of Onsemi by 0.5% during the third quarter. Asset Management One Co. Ltd. now owns 186,997 shares of the semiconductor company’s stock valued at $13,578,000 after buying an additional 1,007 shares during the period. 97.70% of the stock is owned by 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.