onsemi (NASDAQ:ON) Price Target Raised to $76.00

onsemi (NASDAQ:ON) had its target price upped by Truist Financial from $75.00 to $76.00 in a research note published on Tuesday,Benzinga reports. They currently have a hold rating on the semiconductor company’s stock.

ON has been the subject of a number of other research reports. Rosenblatt Securities lowered their price target on onsemi from $85.00 to $80.00 and set a “neutral” rating for the company in a research report on Tuesday. Stonex Financial raised onsemi to a “strong-buy” rating in a research report on Wednesday, October 14th. Mizuho reduced their price objective on onsemi from $110.00 to $95.00 and set an “outperform” rating for the company in a research note on Thursday, September 17th. Stifel Nicolaus boosted their price objective on onsemi from $75.00 to $80.00 and gave the company a “hold” rating in a report on Monday, October 5th. Finally, Robert W. Baird upped their target price on onsemi from $100.00 to $108.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and sixteen have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $95.03.

onsemi Trading Down 11.6%

NASDAQ:ON opened at $63.01 on Tuesday. onsemi has a 52 week low of $44.56 and a 52 week high of $134.92. The firm has a 50 day moving average of $74.45 and a 200 day moving average of $82.14. The company has a quick ratio of 2.49, a current ratio of 3.55 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $24.53 billion, a price-to-earnings ratio of 36.63, a PEG ratio of 0.57 and a beta of 2.11.

onsemi (NASDAQ:ON) last released its quarterly earnings results on Monday, November 2nd. The semiconductor company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.02. onsemi had a net margin of 10.82% and a return on equity of 15.53%. The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same period in the previous year, the company earned $0.63 earnings per share. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, sell-side analysts anticipate that onsemi will post 3.27 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other onsemi news, insider Sudhir Gopalswamy sold 15,578 shares of the company’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $80.00, for a total value of $1,246,240.00. Following the completion of the transaction, the insider owned 158,177 shares in the company, valued at approximately $12,654,160. This represents a 8.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.35% of the company’s stock.

Hedge Funds Weigh In On onsemi

Several institutional investors and hedge funds have recently modified their holdings of the business. Provenance Wealth Advisors LLC grew its holdings in onsemi by 3,318.2% in the third quarter. Provenance Wealth Advisors LLC now owns 376 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 365 shares during the period. Ninety One UK Ltd acquired a new position in shares of onsemi during the 3rd quarter worth approximately $36,000. Ascentis Independent Advisors acquired a new position in onsemi during the first quarter worth $36,000. Root Financial Partners LLC raised its position in onsemi by 39.4% during the first quarter. Root Financial Partners LLC now owns 701 shares of the semiconductor company’s stock worth $43,000 after acquiring an additional 198 shares during the period. Finally, Compass Financial Management LLC purchased a new position in onsemi during the second quarter valued at $67,000. Hedge funds and other institutional investors own 97.70% of the company’s stock.

More onsemi News

Here are the key news stories impacting onsemi this week:

• Positive Sentiment: onsemi reported its fourth consecutive earnings beat, while data-center sales reportedly surged 175%. The company’s planned $600 million acquisition of Ferric is intended to strengthen its power-delivery technology for AI processors. Onsemi AI data-center sales and valuation
• Neutral Sentiment: Investors are weighing whether fast-growing AI demand can become a durable growth driver for onsemi, or whether it is insufficient to offset weakness elsewhere in the business.
• Negative Sentiment: Semiconductor peers also fell in a post-midterm retreat from AI-chip stocks, adding sector-wide pressure despite no new company-specific negative catalyst reported for onsemi. AI-chip stocks slide
• Negative Sentiment: Reports that onsemi is delaying some automakers’ inventory restocking while prioritizing AI and industrial customers raise concerns about near-term auto demand. Several analysts have also taken a more cautious view, including Mizuho and Goldman Sachs, which lowered expectations for the stock. Onsemi delays auto restocking as AI sales jump Mizuho forecast

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. The Power Solutions Group segment offers discrete, module, and semiconductor products that perform multiple application functions, including power switching, power conversion, signal conditioning, circuit protection, signal amplification, and voltage reference functions.