Onsemi (NASDAQ:ON) Receives New Coverage from Analysts at Evercore ISI

Analysts at Evercore ISI initiated coverage on shares of Onsemi (NASDAQ:ON) in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports. The firm set an “outperform” rating and a $104.00 price target on the semiconductor company’s stock. Evercore ISI’s target price indicates a potential upside of 61.32% from the company’s current price.

Several other research analysts have also commented on the company. Mizuho decreased their target price on Onsemi from $98.00 to $92.00 and set a “buy” rating for the company in a research report on Tuesday, February 6th. KeyCorp lifted their target price on Onsemi from $95.00 to $100.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 6th. Roth Mkm lifted their target price on Onsemi from $75.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. TD Cowen lifted their target price on Onsemi from $80.00 to $90.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 6th. Finally, Truist Financial reduced their price objective on Onsemi from $94.00 to $89.00 and set a “buy” rating for the company in a research report on Tuesday, February 6th. Eleven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Onsemi has an average rating of “Moderate Buy” and an average target price of $98.52.

Onsemi Price Performance

Shares of NASDAQ ON opened at $64.47 on Tuesday. Onsemi has a fifty-two week low of $61.47 and a fifty-two week high of $111.35. The business has a 50 day moving average price of $75.43 and a two-hundred day moving average price of $76.75. 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 market cap of $27.71 billion, a PE ratio of 13.18, a price-to-earnings-growth ratio of 6.36 and a beta of 1.80.

Onsemi (NASDAQ:ON) last issued its quarterly earnings data on Monday, February 5th. The semiconductor company reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.04. Onsemi had a return on equity of 31.36% and a net margin of 26.46%. The firm had revenue of $2.02 billion during the quarter, compared to analyst estimates of $2 billion. During the same quarter last year, the firm earned $1.32 EPS. Onsemi’s quarterly revenue was down 4.1% on a year-over-year basis. Sell-side analysts expect that Onsemi will post 4.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Onsemi

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Provence Wealth Management Group purchased a new position in shares of Onsemi during the third quarter valued at $25,000. FinTrust Capital Advisors LLC purchased a new position in shares of Onsemi during the fourth quarter valued at $25,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Onsemi during the fourth quarter valued at $32,000. MeadowBrook Investment Advisors LLC purchased a new position in shares of Onsemi during the fourth quarter valued at $33,000. Finally, Private Wealth Management Group LLC purchased a new position in shares of Onsemi during the fourth quarter valued at $33,000. 97.70% of the stock is owned by institutional investors and hedge funds.

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.