JPMorgan Chase & Co. Raises Onsemi (NASDAQ:ON) Price Target to $88.00

Onsemi (NASDAQ:ON) had its price target boosted by JPMorgan Chase & Co. from $85.00 to $88.00 in a research report sent to investors on Tuesday, Benzinga reports. They currently have a neutral rating on the semiconductor company’s stock.

A number of other research firms also recently commented on ON. B. Riley reiterated a buy rating and issued a $103.00 price objective (down previously from $115.00) on shares of Onsemi in a report on Tuesday, April 30th. Deutsche Bank Aktiengesellschaft decreased their target price on Onsemi from $90.00 to $85.00 and set a buy rating for the company in a research note on Tuesday, April 30th. Susquehanna boosted their target price on Onsemi from $85.00 to $95.00 and gave the company a positive rating in a research note on Wednesday, July 17th. Truist Financial decreased their target price on Onsemi from $89.00 to $85.00 and set a buy rating for the company in a research note on Tuesday, April 30th. Finally, Rosenblatt Securities decreased their target price on Onsemi from $75.00 to $70.00 and set a neutral rating for the company in a research note on Tuesday, April 30th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $85.61.

Onsemi Trading Down 5.5 %

ON stock opened at $67.95 on Tuesday. The business has a fifty day moving average of $72.60 and a 200-day moving average of $73.18. The company has a market cap of $29.11 billion, a P/E ratio of 13.87, a PEG ratio of 3.40 and a beta of 1.69. The company has a quick ratio of 1.87, a current ratio of 3.01 and a debt-to-equity ratio of 0.31. Onsemi has a twelve month low of $59.34 and a twelve month high of $104.87.

Onsemi (NASDAQ:ON) last released its quarterly earnings data on Monday, July 29th. The semiconductor company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. The business had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.73 billion. Onsemi had a return on equity of 25.48% and a net margin of 24.84%. The firm’s revenue was down 17.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.33 earnings per share. 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, CFO Trent Thad sold 38,000 shares of the company’s stock in a transaction that occurred 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 $24,074,193.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Trent Thad sold 38,000 shares of the stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $72.55, for a total transaction of $2,756,900.00. Following the transaction, the chief financial officer now owns 331,829 shares in the company, valued at $24,074,193.95. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Paul Anthony Mascarenas sold 911 shares of Onsemi stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $74.46, for a total value of $67,833.06. Following the sale, the director now directly 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 have sold 69,850 shares of company stock worth $5,236,119 over the last 90 days. Company insiders own 0.31% of the company’s stock.

Institutional Trading of Onsemi

Several hedge funds have recently added to or reduced their stakes in the company. Strategy Asset Managers LLC acquired a new stake in Onsemi during the 2nd quarter worth approximately $962,000. Oregon Public Employees Retirement Fund raised its holdings in Onsemi by 1.1% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 36,923 shares of the semiconductor company’s stock valued at $2,531,000 after acquiring an additional 410 shares in the last quarter. Rhumbline Advisers raised its holdings in Onsemi by 0.3% in the 2nd quarter. Rhumbline Advisers now owns 848,533 shares of the semiconductor company’s stock valued at $58,167,000 after acquiring an additional 2,475 shares in the last quarter. Natixis Advisors LLC raised its holdings in Onsemi by 13.7% in the 2nd quarter. Natixis Advisors LLC now owns 1,333,555 shares of the semiconductor company’s stock valued at $91,415,000 after acquiring an additional 160,362 shares in the last quarter. Finally, Mizuho Securities Co. Ltd. raised its holdings in Onsemi by 205.5% in the 2nd quarter. Mizuho Securities Co. Ltd. now owns 1,680 shares of the semiconductor company’s stock valued at $115,000 after acquiring an additional 1,130 shares in the last quarter. 97.70% of the stock is owned by institutional investors and hedge funds.

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.