Onsemi (NASDAQ:ON) Receives “Buy” Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Onsemi (NASDAQ:ON) in a research note published on Tuesday, Benzinga reports. They currently have a $92.00 target price on the semiconductor company’s stock.

Several other analysts have also issued reports on the stock. Stifel Nicolaus cut their target price on shares of Onsemi from $82.00 to $72.00 and set a hold rating for the company in a research report on Thursday, April 18th. KeyCorp boosted their target price on shares of Onsemi from $95.00 to $100.00 and gave the company an overweight rating in a research report on Tuesday, February 6th. Mizuho cut their target price on shares of Onsemi from $92.00 to $87.00 and set a buy rating for the company in a research report on Tuesday. BNP Paribas restated an underperform rating and set a $55.00 target price on shares of Onsemi in a research report on Friday, April 19th. Finally, Morgan Stanley cut their target price on shares of Onsemi from $80.00 to $70.00 and set an equal weight rating for the company in a research report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $90.24.

Onsemi Stock Down 0.9 %

ON opened at $70.16 on Tuesday. The company has a quick ratio of 1.74, a current ratio of 2.71 and a debt-to-equity ratio of 0.33. The firm has a 50 day moving average price of $72.95 and a 200-day moving average price of $75.13. Onsemi has a twelve month low of $59.34 and a twelve month high of $111.35. The stock has a market capitalization of $30.16 billion, a price-to-earnings ratio of 14.50, a PEG ratio of 6.71 and a beta of 1.80.

Onsemi (NASDAQ:ON) last released its quarterly earnings data on Monday, April 29th. The semiconductor company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.04. Onsemi had a net margin of 26.46% and a return on equity of 31.36%. The firm had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same period in the previous year, the company earned $1.19 earnings per share. The firm’s quarterly revenue was down 4.9% on a year-over-year basis. Equities research analysts forecast that Onsemi will post 4.26 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Provence Wealth Management Group bought a new position in Onsemi during the 3rd quarter worth about $25,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Onsemi in the 4th quarter valued at about $32,000. MeadowBrook Investment Advisors LLC purchased a new position in shares of Onsemi in the 4th quarter worth approximately $33,000. Private Wealth Management Group LLC purchased a new position in shares of Onsemi in the 4th quarter worth approximately $33,000. Finally, Hanseatic Management Services Inc. purchased a new position in shares of Onsemi in the 3rd quarter worth approximately $38,000. 97.70% of the stock is currently 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.