Onsemi (NASDAQ:ON) Upgraded to Hold at StockNews.com

Onsemi (NASDAQ:ON) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Tuesday.

Several other research firms also recently commented on ON. JPMorgan Chase & Co. lifted their target price 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. Robert W. Baird lifted their price target on shares of Onsemi from $70.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday. Bank of America increased their price objective on Onsemi from $80.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. KeyCorp lowered their target price on Onsemi from $95.00 to $90.00 and set an “overweight” rating for the company in a research report on Tuesday, October 8th. Finally, Susquehanna increased their price target on Onsemi from $85.00 to $95.00 and gave the company a “positive” rating in a research note on Wednesday, July 17th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $85.91.

Onsemi Stock Performance

NASDAQ ON opened at $73.63 on Tuesday. Onsemi has a fifty-two week low of $59.34 and a fifty-two week high of $86.77. The stock has a market cap of $31.54 billion, a PE ratio of 18.27, a PEG ratio of 3.82 and a beta of 1.65. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.95 and a current ratio of 3.01. The firm’s fifty day moving average price is $71.43 and its two-hundred day moving average price is $71.49.

Onsemi (NASDAQ:ON) last issued its earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.02. Onsemi had a return on equity of 25.48% and a net margin of 24.84%. The business had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.75 billion. During the same quarter in the prior year, the firm earned $1.39 EPS. The business’s revenue for the quarter was down 19.2% compared to the same quarter last year. On average, equities analysts expect that Onsemi will post 4.01 EPS for the current fiscal year.

Insider Transactions at Onsemi

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $72.71, for a total value of $109,065.00. Following the completion of the sale, the chief executive officer now owns 839,210 shares of the company’s stock, valued at approximately $61,018,959.10. This trade represents 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 hyperlink. Insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Onsemi

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Avidian Wealth Enterprises LLC bought a new stake in Onsemi during the third quarter worth $201,000. Sentry Investment Management LLC grew its stake in shares of Onsemi by 3.0% in the 3rd quarter. Sentry Investment Management LLC now owns 7,177 shares of the semiconductor company’s stock worth $521,000 after acquiring an additional 209 shares in the last quarter. Catalyst Capital Advisors LLC raised its holdings in shares of Onsemi by 235.0% in the third quarter. Catalyst Capital Advisors LLC now owns 1,387 shares of the semiconductor company’s stock valued at $101,000 after purchasing an additional 973 shares during the last quarter. Asset Management One Co. Ltd. lifted its position in shares of Onsemi by 0.5% during the third quarter. Asset Management One Co. Ltd. now owns 186,997 shares of the semiconductor company’s stock valued at $13,578,000 after purchasing an additional 1,007 shares in the last quarter. Finally, National Pension Service boosted its holdings in Onsemi by 0.7% during the third quarter. National Pension Service now owns 1,467,795 shares of the semiconductor company’s stock worth $106,577,000 after purchasing an additional 10,201 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.