Onsemi’s (ON) Buy Rating Reaffirmed at Benchmark

Benchmark reissued their buy rating on shares of Onsemi (NASDAQ:ON) in a research note issued to investors on Tuesday morning, Benzinga reports. Benchmark currently has a $90.00 target price on the semiconductor company’s stock.

Several other research analysts also recently issued reports on the stock. Rosenblatt Securities raised their price objective on shares of Onsemi from $70.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Bank of America raised their price objective on shares of Onsemi from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Roth Mkm raised their price objective on shares of Onsemi from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. JPMorgan Chase & Co. raised their price objective on shares of Onsemi from $85.00 to $88.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Finally, Susquehanna lifted their target price on shares of Onsemi from $85.00 to $95.00 and gave the company a “positive” rating in a report on Wednesday, July 17th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.57.

Onsemi Trading Up 3.4 %

NASDAQ ON opened at $74.70 on Tuesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.01 and a quick ratio of 1.95. The firm’s fifty day moving average price is $71.49 and its 200 day moving average price is $71.48. The company has a market capitalization of $32.00 billion, a price-to-earnings ratio of 18.54, a price-to-earnings-growth ratio of 3.82 and a beta of 1.65. Onsemi has a 12 month low of $59.34 and a 12 month high of $86.77.

Onsemi (NASDAQ:ON) last posted its earnings results on Monday, October 28th. The semiconductor company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.02. The firm had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.75 billion. Onsemi had a net margin of 24.84% and a return on equity of 25.48%. The company’s revenue was down 19.2% on a year-over-year basis. During the same period last year, the firm posted $1.39 EPS. On average, sell-side analysts expect that Onsemi will post 4.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $70.80, for a total transaction of $106,200.00. Following the completion of the transaction, the chief executive officer now owns 840,620 shares in the company, valued at approximately $59,515,896. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.31% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Onsemi

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ON. Davis Investment Partners LLC grew its holdings in shares of Onsemi by 0.8% during the third quarter. Davis Investment Partners LLC now owns 17,112 shares of the semiconductor company’s stock worth $1,224,000 after buying an additional 142 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in shares of Onsemi by 36.7% during the second quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock worth $43,000 after buying an additional 169 shares in the last quarter. Greenleaf Trust grew its holdings in shares of Onsemi by 3.4% during the third quarter. Greenleaf Trust now owns 5,262 shares of the semiconductor company’s stock worth $382,000 after buying an additional 173 shares in the last quarter. Covestor Ltd grew its holdings in shares of Onsemi by 24.5% during the first quarter. Covestor Ltd now owns 965 shares of the semiconductor company’s stock worth $71,000 after buying an additional 190 shares in the last quarter. Finally, Meridian Financial Partners LLC grew its holdings in shares of Onsemi by 1.7% during the third quarter. Meridian Financial Partners LLC now owns 11,305 shares of the semiconductor company’s stock worth $821,000 after buying an additional 192 shares in the last quarter. Institutional investors and hedge funds own 97.70% of the company’s stock.

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.