Onsemi (NASDAQ:ON) Rating Reiterated by B. Riley

Onsemi (NASDAQ:ON)‘s stock had its “buy” rating reissued by analysts at B. Riley in a note issued to investors on Tuesday, Benzinga reports. They currently have a $103.00 price target on the semiconductor company’s stock, down from their prior price target of $115.00. B. Riley’s target price points to a potential upside of 49.25% from the company’s current price. B. Riley also issued estimates for Onsemi’s Q2 2024 earnings at $0.92 EPS, Q3 2024 earnings at $0.96 EPS, Q4 2024 earnings at $0.97 EPS, FY2024 earnings at $3.92 EPS, Q1 2025 earnings at $1.02 EPS, Q2 2025 earnings at $1.13 EPS, Q3 2025 earnings at $1.27 EPS and Q4 2025 earnings at $1.25 EPS.

ON has been the topic of several other research reports. StockNews.com raised shares of Onsemi from a “sell” rating to a “hold” rating in a report on Wednesday, February 14th. Needham & Company LLC reissued a “buy” rating and issued a $92.00 target price on shares of Onsemi in a research note on Tuesday. The Goldman Sachs Group reduced their target price on Onsemi from $91.00 to $81.00 and set a “buy” rating on the stock in a research note on Tuesday, April 16th. Mizuho reduced their target price on Onsemi from $92.00 to $87.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, BNP Paribas reissued an “underperform” rating and issued a $55.00 target price on shares of Onsemi in a research note on Friday, April 19th. One analyst has rated the stock with a sell rating, ten have given a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, Onsemi presently has an average rating of “Moderate Buy” and a consensus price target of $90.24.

Onsemi Trading Down 1.6 %

Onsemi stock opened at $69.01 on Tuesday. The stock has a market cap of $29.66 billion, a P/E ratio of 14.21, a PEG ratio of 7.03 and a beta of 1.80. Onsemi has a fifty-two week low of $59.34 and a fifty-two week high of $111.35. The firm’s fifty day moving average price is $72.80 and its 200-day moving average price is $74.99. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.74 and a current ratio of 2.87.

Onsemi (NASDAQ:ON) last released its quarterly earnings results on Monday, April 29th. The semiconductor company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.04. The firm had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.85 billion. Onsemi had a net margin of 26.67% and a return on equity of 28.86%. The business’s quarterly revenue was down 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.19 earnings per share. Equities research analysts forecast that Onsemi will post 4.23 earnings per share for the current fiscal year.

Institutional Trading of Onsemi

Several large investors have recently modified their holdings of ON. Provence Wealth Management Group bought a new stake in shares of Onsemi in the third quarter worth about $25,000. Turtle Creek Wealth Advisors LLC bought a new stake in Onsemi during the 4th quarter valued at approximately $32,000. MeadowBrook Investment Advisors LLC bought a new stake in Onsemi during the 4th quarter valued at approximately $33,000. Private Wealth Management Group LLC bought a new stake in Onsemi during the 4th quarter valued at approximately $33,000. Finally, Hanseatic Management Services Inc. bought a new stake in Onsemi during the 3rd quarter valued at approximately $38,000. 97.70% of the stock is owned by institutional investors.

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.