Onsemi’s (ON) Hold Rating Reiterated at Truist Financial

Truist Financial reissued their hold rating on shares of Onsemi (NASDAQ:ON) in a research note published on Friday morning, Marketbeat reports. Truist Financial currently has a $60.00 price target on the semiconductor company’s stock, down from their prior price target of $85.00.

ON has been the topic of several other research reports. Mizuho set a $85.00 price target on shares of Onsemi in a research report on Friday, October 18th. Benchmark reissued a “buy” rating and set a $90.00 price target on shares of Onsemi in a research note on Tuesday, October 29th. StockNews.com upgraded shares of Onsemi from a “sell” rating to a “hold” rating in a research report on Tuesday, October 29th. Roth Mkm reiterated a “buy” rating and issued a $100.00 price objective on shares of Onsemi in a research report on Thursday, December 12th. Finally, Rosenblatt Securities restated a “neutral” rating and set a $75.00 target price on shares of Onsemi in a research report on Tuesday, October 29th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $84.43.

Onsemi Trading Down 7.5 %

Shares of ON stock opened at $53.94 on Friday. The company has a quick ratio of 2.02, a current ratio of 3.07 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $22.97 billion, a P/E ratio of 13.38, a P/E/G ratio of 7.07 and a beta of 1.64. Onsemi has a 12-month low of $53.60 and a 12-month high of $85.16. The firm has a 50-day moving average price of $66.86 and a 200 day moving average price of $70.29.

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

Insider Activity at Onsemi

In related news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $71.00, for a total transaction of $106,500.00. Following the completion of the transaction, the chief executive officer now directly owns 837,710 shares in the company, valued at approximately $59,477,410. This trade represents a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.31% of the stock is owned by insiders.

Hedge Funds Weigh In On Onsemi

A number of large investors have recently bought and sold shares of ON. Geode Capital Management LLC boosted its holdings in shares of Onsemi by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 10,602,000 shares of the semiconductor company’s stock valued at $767,646,000 after buying an additional 309,445 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Onsemi by 18.7% in 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 acquiring an additional 665,633 shares during the last quarter. Van ECK Associates Corp grew its position in shares of 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 during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Onsemi by 14.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,968,160 shares of the semiconductor company’s stock worth $215,518,000 after purchasing an additional 380,471 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Onsemi by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,404,589 shares of the semiconductor company’s stock worth $174,597,000 after buying an additional 31,889 shares during 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.