StockNews.com Upgrades Onsemi (NASDAQ:ON) to “Hold”

StockNews.com upgraded shares of Onsemi (NASDAQ:ON) from a sell rating to a hold rating in a report issued on Tuesday.

Several other brokerages have also recently commented on ON. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Onsemi from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. JPMorgan Chase & Co. upped their price target on shares of Onsemi from $85.00 to $88.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Citigroup lowered Onsemi from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $85.00 to $77.00 in a research note on Monday, July 15th. Truist Financial decreased their target price on Onsemi from $97.00 to $89.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, Benchmark reiterated a “buy” rating and set a $90.00 price target on shares of Onsemi in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, Onsemi presently has an average rating of “Moderate Buy” and a consensus price target of $85.57.

Onsemi Stock Up 3.4 %

Onsemi stock opened at $74.70 on Tuesday. The firm has a market capitalization of $32.00 billion, a price-to-earnings ratio of 18.54, a P/E/G ratio of 3.82 and a beta of 1.65. The firm has a 50 day simple moving average of $71.49 and a 200 day simple moving average of $71.48. Onsemi has a 1-year low of $59.34 and a 1-year high of $86.77. The company has a current ratio of 3.01, a quick ratio of 1.95 and a debt-to-equity ratio of 0.31.

Onsemi (NASDAQ:ON) last released its quarterly earnings data on Monday, October 28th. The semiconductor company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.02. Onsemi had a return on equity of 25.48% and a net margin of 24.84%. The company had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same period in the previous year, the company posted $1.39 EPS. The firm’s revenue for the quarter was down 19.2% compared to the same quarter last year. On average, analysts predict that Onsemi will post 4.01 earnings per share for the current year.

Insider Transactions at Onsemi

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $72.71, for a total transaction of $109,065.00. Following the transaction, the chief executive officer now directly owns 839,210 shares of the company’s stock, valued at approximately $61,018,959.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Onsemi

Several hedge funds have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC boosted its stake in Onsemi by 39.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 13,299 shares of the semiconductor company’s stock worth $978,000 after purchasing an additional 3,735 shares in the last quarter. Azzad Asset Management Inc. ADV bought a new position in shares of Onsemi in the first quarter worth approximately $1,068,000. Norden Group LLC bought a new stake in shares of Onsemi during the first quarter valued at approximately $774,000. Westside Investment Management Inc. raised its holdings in Onsemi by 5,500.0% in the 1st quarter. Westside Investment Management Inc. now owns 560 shares of the semiconductor company’s stock worth $41,000 after acquiring an additional 550 shares during the last quarter. Finally, First Trust Direct Indexing L.P. boosted its stake in Onsemi by 9.6% during the 1st quarter. First Trust Direct Indexing L.P. now owns 12,130 shares of the semiconductor company’s stock valued at $892,000 after purchasing an additional 1,059 shares during the last quarter. 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.