Onsemi (NASDAQ:ON) Shares Gap Up to $61.68

Onsemi (NASDAQ:ON)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $61.68, but opened at $67.17. Onsemi shares last traded at $65.85, with a volume of 2,634,143 shares traded.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ON shares. Wells Fargo & Company cut their target price on shares of Onsemi from $110.00 to $95.00 and set an “overweight” rating on the stock in a research report on Tuesday. JPMorgan Chase & Co. cut their target price on shares of Onsemi from $95.00 to $90.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 6th. BNP Paribas reiterated an “underperform” rating and set a $55.00 target price on shares of Onsemi in a research report on Friday, April 19th. Mizuho cut their target price on shares of Onsemi from $98.00 to $92.00 and set a “buy” rating on the stock in a research report on Tuesday, February 6th. Finally, Roth Mkm boosted their price target on shares of Onsemi from $75.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $95.28.

Onsemi Stock Up 1.3 %

The firm has a market cap of $28.53 billion, a P/E ratio of 13.57, a price-to-earnings-growth ratio of 6.40 and a beta of 1.80. The stock’s 50 day simple moving average is $73.60 and its 200 day simple moving average is $75.77. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.74 and a current ratio of 2.71.

Onsemi (NASDAQ:ON) last announced its quarterly earnings results on Monday, February 5th. The semiconductor company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.04. The business had revenue of $2.02 billion during the quarter, compared to analyst estimates of $2 billion. Onsemi had a net margin of 26.46% and a return on equity of 31.36%. Onsemi’s quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.32 EPS. Research analysts anticipate that Onsemi will post 4.3 EPS for the current year.

Institutional Trading of Onsemi

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. MONECO Advisors LLC grew its stake in shares of Onsemi by 6.5% in the 1st quarter. MONECO Advisors LLC now owns 16,138 shares of the semiconductor company’s stock worth $1,187,000 after acquiring an additional 980 shares in the last quarter. Villere ST Denis J & Co. LLC grew its stake in shares of Onsemi by 28.7% in the 1st quarter. Villere ST Denis J & Co. LLC now owns 435,936 shares of the semiconductor company’s stock worth $32,063,000 after acquiring an additional 97,191 shares in the last quarter. Carmel Capital Partners LLC grew its stake in shares of Onsemi by 75.2% in the 1st quarter. Carmel Capital Partners LLC now owns 15,854 shares of the semiconductor company’s stock worth $1,166,000 after acquiring an additional 6,804 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in shares of Onsemi by 2,303.1% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 60,414 shares of the semiconductor company’s stock worth $4,444,000 after acquiring an additional 57,900 shares in the last quarter. Finally, Whalen Wealth Management Inc. bought a new stake in shares of Onsemi in the 1st quarter worth $213,000. Institutional investors own 97.70% of the company’s stock.

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.