Onsemi’s (ON) “Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Onsemi (NASDAQ:ON) in a research report sent to investors on Monday,Benzinga reports. The brokerage currently has a $57.00 price target on the semiconductor company’s stock.

ON has been the topic of a number of other reports. Wells Fargo & Company reduced their price objective on shares of Onsemi from $80.00 to $60.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 11th. Truist Financial decreased their price target on shares of Onsemi from $60.00 to $52.00 and set a “hold” rating for the company in a research note on Tuesday, February 11th. B. Riley lowered their price objective on Onsemi from $90.00 to $73.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Loop Capital assumed coverage on shares of Onsemi in a research note on Monday, November 11th. They issued a “buy” rating and a $95.00 target price on the stock. Finally, The Goldman Sachs Group decreased their target price on Onsemi from $77.00 to $64.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $67.12.

Onsemi Stock Down 4.5 %

Shares of NASDAQ ON opened at $44.91 on Monday. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.06 and a quick ratio of 3.38. The stock has a market capitalization of $18.93 billion, a PE ratio of 12.37, a P/E/G ratio of 16.74 and a beta of 1.61. Onsemi has a one year low of $44.67 and a one year high of $85.16. The business’s fifty day moving average price is $55.80 and its 200-day moving average price is $65.35.

Onsemi (NASDAQ:ON) last announced its earnings results on Monday, February 10th. The semiconductor company reported $0.95 earnings per share for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.03). Onsemi had a return on equity of 20.10% and a net margin of 22.21%. On average, equities research analysts anticipate that Onsemi will post 2.6 EPS for the current year.

Hedge Funds Weigh In On Onsemi

Several hedge funds have recently bought and sold shares of the business. Capital Performance Advisors LLP acquired a new position in shares of Onsemi during the 3rd quarter worth about $27,000. Ashton Thomas Securities LLC bought a new stake in shares of Onsemi in the third quarter valued at approximately $33,000. Elequin Capital LP grew its stake in shares of Onsemi by 108.3% in the fourth quarter. Elequin Capital LP now owns 527 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 274 shares during the last quarter. Newbridge Financial Services Group Inc. bought a new stake in Onsemi in the 4th quarter valued at $41,000. Finally, Safe Harbor Fiduciary LLC acquired a new stake in Onsemi in the 3rd quarter worth $43,000. 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.