Onsemi’s (ON) Buy Rating Reiterated at Benchmark

Onsemi (NASDAQ:ON)‘s stock had its “buy” rating reaffirmed by analysts at Benchmark in a report released on Tuesday, Benzinga reports. They presently have a $90.00 target price on the semiconductor company’s stock. Benchmark’s price target would indicate a potential upside of 24.58% from the stock’s current price.

ON has been the topic of several other reports. Morgan Stanley increased their target price on shares of Onsemi from $63.00 to $64.00 and gave the stock an “underweight” rating in a research note on Tuesday. StockNews.com cut shares of Onsemi from a “hold” rating to a “sell” rating in a research note on Monday, August 26th. Mizuho set a $85.00 price objective on Onsemi in a research report on Friday, October 18th. BNP Paribas cut their target price on Onsemi from $60.00 to $55.00 in a research note on Friday. Finally, KeyCorp decreased their price target on shares of Onsemi from $95.00 to $90.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 8th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Onsemi has a consensus rating of “Hold” and an average price target of $85.26.

Onsemi Stock Performance

NASDAQ:ON opened at $72.24 on Tuesday. Onsemi has a 52-week low of $59.34 and a 52-week high of $86.77. The business’s fifty day moving average is $71.52 and its 200 day moving average is $71.42. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.95 and a current ratio of 3.01. The firm has a market cap of $30.94 billion, a price-to-earnings ratio of 16.46, a PEG ratio of 3.82 and a beta of 1.65.

Onsemi (NASDAQ:ON) last announced its quarterly earnings results on Monday, July 29th. The semiconductor company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.04. The firm had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.73 billion. Onsemi had a return on equity of 25.48% and a net margin of 24.84%. The company’s revenue was down 17.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.33 earnings per share. Research analysts predict that Onsemi will post 4.01 EPS for the current year.

Insider Activity at Onsemi

In other news, insider Simon Keeton sold 30,939 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $77.94, for a total value of $2,411,385.66. Following the sale, the insider now directly owns 231,092 shares of the company’s stock, valued at $18,011,310.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Simon Keeton sold 30,939 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $77.94, for a total value of $2,411,385.66. Following the sale, the insider now owns 231,092 shares in the company, valued at $18,011,310.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Hassane El-Khoury sold 1,500 shares of Onsemi stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $72.71, for a total value of $109,065.00. Following the transaction, the chief executive officer now owns 839,210 shares of the company’s stock, valued at $61,018,959.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,939 shares of company stock worth $2,626,651 over the last ninety days. 0.31% of the stock is owned by corporate insiders.

Institutional Trading of Onsemi

A number of institutional investors and hedge funds have recently bought and sold shares of ON. Mediolanum International Funds Ltd bought a new position in shares of Onsemi during the first quarter valued at $2,447,000. Assenagon Asset Management S.A. boosted its holdings in shares of Onsemi by 690.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 101,318 shares of the semiconductor company’s stock valued at $6,945,000 after acquiring an additional 88,496 shares during the last quarter. Norden Group LLC bought a new stake in shares of Onsemi in the first quarter worth approximately $774,000. Axxcess Wealth Management LLC purchased a new position in shares of Onsemi during the first quarter valued at approximately $808,000. Finally, Meeder Asset Management Inc. lifted its position in Onsemi by 42.9% during the first quarter. Meeder Asset Management Inc. now owns 26,029 shares of the semiconductor company’s stock valued at $1,914,000 after purchasing an additional 7,820 shares during the period. 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.