Onsemi (NASDAQ:ON) Stock Price Up 3%

Onsemi (NASDAQ:ON)’s share price rose 3% during mid-day trading on Tuesday . The stock traded as high as $71.80 and last traded at $71.27. Approximately 599,912 shares traded hands during trading, a decline of 91% from the average daily volume of 6,815,680 shares. The stock had previously closed at $69.18.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ON shares. KeyCorp reduced their target price on Onsemi from $100.00 to $90.00 and set an “overweight” rating for the company in a report on Tuesday, April 30th. Jefferies Financial Group started coverage on Onsemi in a report on Monday, May 13th. They issued a “buy” rating and a $100.00 target price for the company. The Goldman Sachs Group reduced their target price on Onsemi from $91.00 to $81.00 and set a “buy” rating for the company in a report on Tuesday, April 16th. Susquehanna reduced their target price on Onsemi from $90.00 to $85.00 and set a “positive” rating for the company in a report on Tuesday, April 30th. Finally, Morgan Stanley dropped their price target on Onsemi from $80.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $90.28.

Onsemi Trading Up 3.9 %

The company has a debt-to-equity ratio of 0.32, a current ratio of 2.87 and a quick ratio of 1.87. The company has a market cap of $30.92 billion, a price-to-earnings ratio of 14.62, a price-to-earnings-growth ratio of 3.12 and a beta of 1.69. The business has a 50 day simple moving average of $71.07 and a 200 day simple moving average of $74.20.

Onsemi (NASDAQ:ON) last posted its quarterly earnings data on Monday, April 29th. The semiconductor company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04. Onsemi had a return on equity of 28.86% and a net margin of 26.67%. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same quarter in the previous year, the firm earned $1.19 earnings per share. The business’s revenue was down 4.9% on a year-over-year basis. As a group, equities analysts forecast that Onsemi will post 3.83 EPS for the current year.

Insider Buying and Selling at Onsemi

In other Onsemi news, Director Paul Anthony Mascarenas sold 911 shares of the stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $74.46, for a total value of $67,833.06. Following the transaction, the director now owns 48,929 shares of the company’s stock, valued at $3,643,253.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Onsemi news, CFO Trent Thad sold 38,000 shares of the stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $72.55, for a total value of $2,756,900.00. Following the completion of the sale, the chief financial officer now directly owns 331,829 shares in the company, valued at $24,074,193.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Paul Anthony Mascarenas sold 911 shares of the stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $74.46, for a total value of $67,833.06. Following the completion of the sale, the director now owns 48,929 shares of the company’s stock, valued at $3,643,253.34. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ON. Boston Partners acquired a new position in Onsemi during the first quarter valued at approximately $2,580,000. Teachers Retirement System of The State of Kentucky boosted its position in Onsemi by 16.6% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 639,741 shares of the semiconductor company’s stock valued at $47,054,000 after purchasing an additional 91,171 shares during the last quarter. Atria Investments Inc boosted its position in Onsemi by 3.2% during the first quarter. Atria Investments Inc now owns 25,084 shares of the semiconductor company’s stock valued at $1,845,000 after purchasing an additional 775 shares during the last quarter. Swedbank AB acquired a new position in Onsemi during the first quarter valued at approximately $90,274,000. Finally, Virtu Financial LLC acquired a new position in Onsemi during the first quarter valued at approximately $2,580,000. 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.