Onsemi (NASDAQ:ON) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Onsemi (NASDAQ:ON) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-four brokerages that are currently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and fifteen have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $85.61.

A number of equities analysts recently weighed in on the company. Citigroup cut Onsemi from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $85.00 to $77.00 in a research note on Monday, July 15th. TD Cowen lifted their target price on shares of Onsemi from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Needham & Company LLC restated a “buy” rating and issued a $92.00 price target on shares of Onsemi in a research report on Thursday, June 13th. Truist Financial lifted their price objective on shares of Onsemi from $85.00 to $97.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Finally, Bank of America increased their target price on Onsemi from $80.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, July 30th.

Onsemi Price Performance

Shares of ON opened at $70.33 on Friday. The firm has a market capitalization of $30.13 billion, a price-to-earnings ratio of 14.35, a price-to-earnings-growth ratio of 3.99 and a beta of 1.66. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.95 and a current ratio of 3.01. Onsemi has a one year low of $59.34 and a one year high of $95.59. The stock’s fifty day moving average is $72.32 and its 200-day moving average is $71.74.

Onsemi (NASDAQ:ON) last released its earnings results on Monday, July 29th. The semiconductor company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. The firm had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.73 billion. Onsemi had a return on equity of 25.48% and a net margin of 24.84%. Onsemi’s revenue was down 17.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.33 earnings per share. Equities analysts anticipate that Onsemi will post 4.01 EPS for the current year.

Insider Buying and Selling

In related news, insider Simon Keeton sold 30,939 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $77.94, for a total transaction of $2,411,385.66. Following the transaction, the insider now directly owns 231,092 shares in the company, valued at $18,011,310.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Simon Keeton sold 30,939 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $77.94, for a total transaction of $2,411,385.66. Following the transaction, the insider now directly owns 231,092 shares in the company, valued at $18,011,310.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $70.80, for a total value of $106,200.00. Following the transaction, the chief executive officer now owns 840,620 shares in the company, valued at $59,515,896. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.

Institutional Investors Weigh In On Onsemi

Several large investors have recently modified their holdings of ON. Stifel Financial Corp grew its stake in shares of Onsemi by 15.8% in the 4th quarter. Stifel Financial Corp now owns 122,528 shares of the semiconductor company’s stock valued at $10,235,000 after purchasing an additional 16,762 shares during the period. The Manufacturers Life Insurance Company grew its position in Onsemi by 8.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 456,999 shares of the semiconductor company’s stock worth $38,188,000 after acquiring an additional 35,362 shares during the last quarter. Royal London Asset Management Ltd. grew its position in Onsemi by 0.8% during the 4th quarter. Royal London Asset Management Ltd. now owns 156,378 shares of the semiconductor company’s stock worth $13,062,000 after acquiring an additional 1,238 shares during the last quarter. Capital International Investors grew its position in Onsemi by 1.1% during the 4th quarter. Capital International Investors now owns 4,064,889 shares of the semiconductor company’s stock worth $339,590,000 after acquiring an additional 43,565 shares during the last quarter. Finally, Capital World Investors bought a new stake in Onsemi during the 4th quarter worth approximately $697,276,000. 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.