Onsemi (NASDAQ:ON) Receives Consensus Rating of “Moderate Buy” from Brokerages

Onsemi (NASDAQ:ON) has received a consensus recommendation of “Moderate Buy” from the twenty-four research firms that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and fifteen have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $85.61.

Several equities analysts have recently issued reports on ON shares. JPMorgan Chase & Co. lifted their price target on Onsemi from $85.00 to $88.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Citigroup cut shares of Onsemi from a “buy” rating to a “neutral” rating and cut their price target for the company from $85.00 to $77.00 in a report on Monday, July 15th. TD Cowen boosted their price objective on shares of Onsemi from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Rosenblatt Securities upped their price objective on Onsemi from $70.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. Finally, Benchmark lifted their target price on Onsemi from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th.

Onsemi Price Performance

Shares of NASDAQ ON opened at $67.92 on Monday. Onsemi has a 1 year low of $59.34 and a 1 year high of $99.75. The stock has a market capitalization of $29.22 billion, a P/E ratio of 13.86, a P/E/G ratio of 4.18 and a beta of 1.66. The company’s 50-day moving average is $73.50 and its 200 day moving average is $72.67. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.01 and a quick ratio of 1.95.

Onsemi (NASDAQ:ON) last posted its quarterly earnings data on Monday, July 29th. The semiconductor company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. Onsemi had a return on equity of 25.48% and a net margin of 24.84%. The business had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the prior year, the company earned $1.33 earnings per share. The firm’s quarterly revenue was down 17.2% compared to the same quarter last year. On average, sell-side analysts expect that Onsemi will post 4.01 earnings per share for the current year.

Insider Activity

In other news, CFO Trent Thad sold 38,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $72.55, for a total transaction of $2,756,900.00. Following the sale, the chief financial officer now directly owns 331,829 shares of the company’s stock, valued at approximately $24,074,193.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Trent Thad sold 38,000 shares of the business’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $72.55, for a total value of $2,756,900.00. Following the sale, the chief financial officer now directly owns 331,829 shares in the company, valued at approximately $24,074,193.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Simon Keeton sold 30,939 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $77.94, for a total transaction of $2,411,385.66. Following the completion of the transaction, the insider now directly owns 231,092 shares of the company’s stock, valued at approximately $18,011,310.48. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Onsemi

Several hedge funds have recently added to or reduced their stakes in ON. Sanctuary Advisors LLC bought a new stake in shares of Onsemi during the second quarter worth $4,360,000. Regal Investment Advisors LLC raised its stake in shares of Onsemi by 1.2% during the second quarter. Regal Investment Advisors LLC now owns 49,213 shares of the semiconductor company’s stock valued at $3,374,000 after acquiring an additional 606 shares in the last quarter. Second Line Capital LLC purchased a new stake in shares of Onsemi in the 2nd quarter worth $2,203,000. NewEdge Advisors LLC lifted its stake in Onsemi by 5.9% in the second quarter. NewEdge Advisors LLC now owns 26,674 shares of the semiconductor company’s stock worth $1,829,000 after acquiring an additional 1,476 shares during the period. Finally, Creative Planning grew its holdings in Onsemi by 11.2% during the 2nd quarter. Creative Planning now owns 21,991 shares of the semiconductor company’s stock worth $1,507,000 after acquiring an additional 2,215 shares in the last quarter. 97.70% of the stock is currently 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.