Onsemi’s (ON) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Onsemi (NASDAQ:ON) in a report published on Tuesday,Benzinga reports. Needham & Company LLC currently has a $87.00 target price on the semiconductor company’s stock.

ON has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft raised their target price on Onsemi from $85.00 to $90.00 and gave the stock a “buy” rating in a research note 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. Mizuho set a $85.00 target price on shares of Onsemi in a report on Friday, October 18th. Benchmark restated a “buy” rating and set a $90.00 price target on shares of Onsemi in a report on Tuesday, October 29th. Finally, BNP Paribas decreased 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 assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $86.30.

Onsemi Stock Performance

Shares of NASDAQ:ON opened at $68.32 on Tuesday. The business’s 50 day moving average price is $70.25 and its 200-day moving average price is $71.79. Onsemi has a 1 year low of $59.34 and a 1 year high of $86.77. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.07 and a quick ratio of 2.02. The firm has a market capitalization of $29.09 billion, a PE ratio of 16.95, a P/E/G ratio of 7.15 and a beta of 1.65.

Onsemi (NASDAQ:ON) last released 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. The business had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.75 billion. Onsemi had a net margin of 23.80% and a return on equity of 22.38%. The company’s revenue for the quarter was down 19.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.39 earnings per share. As a group, equities research analysts expect that Onsemi will post 4 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 840,620 shares in the company, valued at approximately $59,515,896. The trade was a 0.18 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.31% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Swedbank AB purchased a new stake in shares of Onsemi in the first quarter valued at about $90,274,000. Bridgewater Associates LP increased its position in Onsemi by 8,367.5% in the 3rd quarter. Bridgewater Associates LP now owns 1,123,041 shares of the semiconductor company’s stock valued at $81,544,000 after acquiring an additional 1,109,778 shares during the period. American Century Companies Inc. raised its stake in Onsemi by 451.3% during the 2nd 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 last quarter. Van ECK Associates Corp lifted its position in Onsemi by 26.4% during the 3rd quarter. Van ECK Associates Corp now owns 3,495,056 shares of the semiconductor company’s stock worth $237,559,000 after acquiring an additional 729,081 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake 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 valued at $289,088,000 after purchasing an additional 665,633 shares during the last quarter. Hedge funds and other institutional investors 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.