Truist Financial Reaffirms Hold Rating for Onsemi (NASDAQ:ON)

Onsemi (NASDAQ:ON)‘s stock had its “hold” rating reiterated by stock analysts at Truist Financial in a report released on Friday, Marketbeat Ratings reports. They currently have a $60.00 target price on the semiconductor company’s stock, down from their prior target price of $85.00. Truist Financial’s price objective would suggest a potential upside of 11.23% from the company’s current price.

ON has been the topic of several other reports. StockNews.com upgraded Onsemi from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $75.00 price target on shares of Onsemi in a report on Tuesday, October 29th. Mizuho set a $85.00 price objective on shares of Onsemi in a report on Friday, October 18th. Benchmark restated a “buy” rating and issued a $90.00 target price on shares of Onsemi in a research note on Tuesday, October 29th. Finally, Morgan Stanley boosted their price objective on Onsemi from $63.00 to $64.00 and gave the company an “underweight” rating in a report on Tuesday, October 29th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $84.43.

Onsemi Trading Down 7.5 %

NASDAQ ON opened at $53.94 on Friday. Onsemi has a one year low of $53.60 and a one year high of $85.16. The company’s 50 day moving average price is $66.86 and its 200 day moving average price is $70.27. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.02 and a current ratio of 3.07. The firm has a market capitalization of $22.97 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 7.07 and a beta of 1.64.

Onsemi (NASDAQ:ON) last posted its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.97 by $0.02. Onsemi had a net margin of 23.80% and a return on equity of 22.38%. The firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same quarter last year, the firm posted $1.39 earnings per share. Onsemi’s revenue for the quarter was down 19.2% compared to the same quarter last year. On average, sell-side analysts predict that Onsemi will post 4 EPS for the current year.

Insider Activity

In related news, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $71.00, for a total value of $106,500.00. Following the completion of the sale, the chief executive officer now directly owns 837,710 shares in the company, valued at approximately $59,477,410. The trade was a 0.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.31% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ON. Bridgewater Associates LP increased its position in Onsemi by 8,367.5% in the 3rd quarter. Bridgewater Associates LP now owns 1,123,041 shares of the semiconductor company’s stock worth $81,544,000 after buying an additional 1,109,778 shares during the period. American Century Companies Inc. increased its position in shares of Onsemi by 451.3% during the second quarter. American Century Companies Inc. now owns 1,111,112 shares of the semiconductor company’s stock valued at $76,167,000 after purchasing an additional 909,558 shares during the period. Van ECK Associates Corp increased its position in shares of Onsemi by 26.4% during the third quarter. Van ECK Associates Corp now owns 3,495,056 shares of the semiconductor company’s stock valued at $237,559,000 after purchasing an additional 729,081 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Onsemi by 18.7% during the second quarter. Dimensional Fund Advisors LP now owns 4,217,221 shares of the semiconductor company’s stock valued at $289,088,000 after purchasing an additional 665,633 shares during the period. Finally, 1832 Asset Management L.P. increased its position in shares of Onsemi by 66.4% during the second quarter. 1832 Asset Management L.P. now owns 1,440,450 shares of the semiconductor company’s stock valued at $98,743,000 after purchasing an additional 574,900 shares during the period. 97.70% of the stock is 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.