Onsemi’s (ON) “Underperform” Rating Reaffirmed at BNP Paribas

BNP Paribas reissued their underperform rating on shares of Onsemi (NASDAQ:ON) in a research report report published on Friday, MarketBeat reports. BNP Paribas currently has a $55.00 price objective on the semiconductor company’s stock.

A number of other equities analysts have also recently commented on the stock. TD Cowen lifted their price objective on shares of Onsemi from $80.00 to $90.00 and gave the stock an outperform rating in a research report on Tuesday, February 6th. Rosenblatt Securities reissued a neutral rating and issued a $75.00 target price on shares of Onsemi in a research report on Tuesday, February 6th. 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. Truist Financial reduced their target price on shares of Onsemi from $94.00 to $89.00 and set a buy rating for the company in a research report on Tuesday, February 6th. Finally, Needham & Company LLC reaffirmed a buy rating and issued a $92.00 price target on shares of Onsemi in a research note on Tuesday, February 6th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $96.52.

Onsemi Price Performance

NASDAQ:ON opened at $60.71 on Friday. Onsemi has a 1-year low of $60.26 and a 1-year high of $111.35. The company has a current ratio of 2.71, a quick ratio of 1.74 and a debt-to-equity ratio of 0.33. The firm has a fifty day simple moving average of $74.67 and a 200 day simple moving average of $76.43. The stock has a market capitalization of $26.10 billion, a PE ratio of 12.42, a P/E/G ratio of 6.13 and a beta of 1.80.

Onsemi (NASDAQ:ON) last released its earnings results on Monday, February 5th. The semiconductor company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.04. Onsemi had a net margin of 26.46% and a return on equity of 31.36%. The business had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $2 billion. During the same period last year, the business earned $1.32 earnings per share. The firm’s revenue was down 4.1% on a year-over-year basis. On average, research analysts expect that Onsemi will post 4.31 EPS for the current fiscal year.

Institutional Trading of Onsemi

Hedge funds and other institutional investors have recently made changes to their positions in the company. HighTower Advisors LLC boosted its holdings in Onsemi by 3.2% in the first quarter. HighTower Advisors LLC now owns 27,412 shares of the semiconductor company’s stock valued at $1,716,000 after acquiring an additional 845 shares during the last quarter. MetLife Investment Management LLC bought a new stake in Onsemi in the first quarter valued at approximately $1,171,000. Yousif Capital Management LLC boosted its holdings in Onsemi by 4.2% in the first quarter. Yousif Capital Management LLC now owns 9,877 shares of the semiconductor company’s stock valued at $618,000 after acquiring an additional 395 shares during the last quarter. Raymond James Trust N.A. boosted its holdings in Onsemi by 15.4% in the first quarter. Raymond James Trust N.A. now owns 5,938 shares of the semiconductor company’s stock valued at $372,000 after acquiring an additional 793 shares during the last quarter. Finally, Blair William & Co. IL boosted its holdings in Onsemi by 22.0% in the first quarter. Blair William & Co. IL now owns 4,258 shares of the semiconductor company’s stock valued at $267,000 after acquiring an additional 768 shares during the last quarter. 97.70% of the stock is currently 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.