Onsemi’s (ON) Buy Rating Reiterated at Roth Mkm

Onsemi (NASDAQ:ON)‘s stock had its “buy” rating reaffirmed by equities researchers at Roth Mkm in a report issued on Thursday,Benzinga reports. They currently have a $100.00 price objective on the semiconductor company’s stock. Roth Mkm’s price objective would indicate a potential upside of 51.61% from the company’s previous close.

Several other research analysts have also recently issued reports on ON. StockNews.com raised Onsemi from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. Wells Fargo & Company started coverage on Onsemi in a report on Friday, November 22nd. They issued an “overweight” rating and a $85.00 target price on the stock. Truist Financial reduced their target price on Onsemi from $97.00 to $89.00 and set a “buy” rating for the company in a report on Tuesday, October 29th. Loop Capital assumed coverage on Onsemi in a research note on Monday, November 11th. They issued a “buy” rating and a $95.00 price target on the stock. Finally, BNP Paribas cut their price objective on Onsemi from $60.00 to $55.00 in a report on Friday, October 25th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, Onsemi currently has a consensus rating of “Moderate Buy” and an average price target of $85.87.

Onsemi Price Performance

NASDAQ ON opened at $65.96 on Thursday. Onsemi has a 12 month low of $59.34 and a 12 month high of $86.77. The firm has a market capitalization of $28.09 billion, a PE ratio of 16.37, a P/E/G ratio of 7.29 and a beta of 1.63. The company’s 50 day simple moving average is $69.45 and its 200 day simple moving average is $71.39. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.07 and a quick ratio of 2.02.

Onsemi (NASDAQ:ON) last issued its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.02. Onsemi had a net margin of 23.80% and a return on equity of 22.38%. The company had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.75 billion. During the same period in the prior year, the company earned $1.39 EPS. Onsemi’s revenue was down 19.2% on a year-over-year basis. As a group, equities research analysts forecast that Onsemi will post 4 EPS for the current fiscal year.

Insider Activity at Onsemi

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $72.71, for a total transaction of $109,065.00. Following the completion of the sale, the chief executive officer now directly owns 839,210 shares in the company, valued at $61,018,959.10. This represents a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders have sold 4,500 shares of company stock valued at $321,765. Corporate insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Onsemi

Several large investors have recently made changes to their positions in the business. Bridgewater Associates LP increased its holdings in shares of Onsemi by 8,367.5% during the 3rd quarter. Bridgewater Associates LP now owns 1,123,041 shares of the semiconductor company’s stock worth $81,544,000 after purchasing an additional 1,109,778 shares during the period. American Century Companies Inc. increased its stake in 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 acquiring an additional 909,558 shares during the period. Van ECK Associates Corp raised its holdings in Onsemi by 26.4% in the 3rd quarter. Van ECK Associates Corp now owns 3,495,056 shares of the semiconductor company’s stock valued at $237,559,000 after acquiring an additional 729,081 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Onsemi by 18.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,217,221 shares of the semiconductor company’s stock worth $289,088,000 after acquiring an additional 665,633 shares during the period. Finally, 1832 Asset Management L.P. grew its holdings in shares of Onsemi by 66.4% during the 2nd quarter. 1832 Asset Management L.P. now owns 1,440,450 shares of the semiconductor company’s stock worth $98,743,000 after purchasing an additional 574,900 shares in the last quarter. Institutional investors and hedge funds own 97.70% of the company’s stock.

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.