Onsemi (NASDAQ:ON) Price Target Raised to $100.00

Onsemi (NASDAQ:ON) had its price objective upped by Roth Mkm from $90.00 to $100.00 in a research note released on Tuesday morning, Benzinga reports. The brokerage currently has a buy rating on the semiconductor company’s stock.

ON has been the topic of several other research reports. TD Cowen raised their target price on Onsemi from $85.00 to $90.00 and gave the stock a buy rating in a research report on Tuesday. JPMorgan Chase & Co. boosted their price objective on shares of Onsemi from $85.00 to $88.00 and gave the stock a neutral rating in a research report on Tuesday. Evercore ISI initiated coverage on shares of Onsemi in a research report on Tuesday, April 16th. They issued an outperform rating and a $104.00 target price on the stock. Morgan Stanley cut shares of Onsemi from an equal weight rating to an underweight rating and reduced their price target for the company from $70.00 to $65.00 in a research report on Thursday, July 11th. Finally, Susquehanna raised their price objective on Onsemi from $85.00 to $95.00 and gave the stock a positive rating in a report on Wednesday, July 17th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $85.61.

Onsemi Trading Down 8.1 %

ON opened at $71.90 on Tuesday. The stock has a market capitalization of $30.80 billion, a PE ratio of 14.67, a P/E/G ratio of 3.40 and a beta of 1.69. Onsemi has a one year low of $59.34 and a one year high of $107.16. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.87 and a current ratio of 3.01. The business’s 50 day moving average price is $72.69 and its 200 day moving average price is $73.23.

Onsemi (NASDAQ:ON) last issued its quarterly earnings data on Monday, July 29th. The semiconductor company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.04. Onsemi had a net margin of 24.84% and a return on equity of 25.48%. The firm had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same period in the previous year, the firm earned $1.33 EPS. Onsemi’s revenue was down 17.2% on a year-over-year basis. As a group, equities research analysts expect that Onsemi will post 4.01 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 on Thursday, May 16th. The stock was sold at an average price of $74.46, for a total transaction of $67,833.06. Following the sale, the director now owns 48,929 shares in the company, valued at approximately $3,643,253.34. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Paul Anthony Mascarenas sold 911 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $74.46, for a total transaction of $67,833.06. Following the sale, the director now owns 48,929 shares in the company, valued at $3,643,253.34. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Trent Thad sold 38,000 shares of the firm’s stock in a transaction on 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 sale, the chief financial officer now owns 331,829 shares in the company, valued at approximately $24,074,193.95. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Onsemi

Several institutional investors and hedge funds have recently bought and sold shares of ON. Vanguard Group Inc. grew its stake in Onsemi by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 50,341,366 shares of the semiconductor company’s stock worth $4,205,014,000 after buying an additional 321,682 shares during the period. Capital World Investors acquired a new position in shares of Onsemi during the 4th quarter valued at $697,276,000. Norges Bank acquired a new position in shares of Onsemi during the 4th quarter valued at $418,102,000. Capital International Investors boosted its position in Onsemi by 1.0% during the 1st quarter. Capital International Investors now owns 4,107,006 shares of the semiconductor company’s stock worth $302,070,000 after purchasing an additional 42,117 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Onsemi by 25.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,218,131 shares of the semiconductor company’s stock valued at $268,835,000 after purchasing an additional 645,969 shares during the period. Institutional investors and hedge funds 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.