Analysts Set Onsemi (NASDAQ:ON) PT at $85.87

Shares of Onsemi (NASDAQ:ON) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-three analysts that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and sixteen have issued a buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $85.87.

A number of brokerages recently issued reports on ON. Needham & Company LLC reissued a “buy” rating and issued a $87.00 price objective on shares of Onsemi in a research note on Tuesday, November 19th. BNP Paribas reduced their price objective on Onsemi from $60.00 to $55.00 in a research note on Friday, October 25th. Loop Capital began coverage on shares of Onsemi in a report on Monday, November 11th. They issued a “buy” rating and a $95.00 target price for the company. Rosenblatt Securities reaffirmed a “neutral” rating and set a $75.00 price target on shares of Onsemi in a report on Tuesday, October 29th. Finally, Mizuho set a $85.00 price objective on shares of Onsemi in a research note on Friday, October 18th.

Insiders Place Their Bets

In other news, CEO Hassane El-Khoury sold 1,500 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $71.00, for a total transaction of $106,500.00. Following the transaction, the chief executive officer now owns 837,710 shares in the company, valued at approximately $59,477,410. This represents a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders have sold 4,500 shares of company stock worth $321,765. Corporate insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Onsemi

Hedge funds and other institutional investors have recently made changes to their positions in the business. Swedbank AB purchased a new position in shares of Onsemi in the 1st quarter worth about $90,274,000. Bridgewater Associates LP raised its holdings in shares of Onsemi by 8,367.5% in 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. lifted its stake in Onsemi by 451.3% in 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 purchasing an additional 909,558 shares during the last quarter. Van ECK Associates Corp lifted its stake in Onsemi by 26.4% in the third quarter. Van ECK Associates Corp now owns 3,495,056 shares of the semiconductor company’s stock valued at $237,559,000 after purchasing an additional 729,081 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position 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 worth $289,088,000 after buying an additional 665,633 shares during the last quarter. 97.70% of the stock is owned by institutional investors.

Onsemi Price Performance

NASDAQ:ON opened at $70.35 on Friday. The stock’s 50 day moving average price is $70.24 and its two-hundred day moving average price is $71.81. Onsemi has a 12-month low of $59.34 and a 12-month high of $86.77. The firm has a market capitalization of $29.95 billion, a price-to-earnings ratio of 17.46, a P/E/G ratio of 7.76 and a beta of 1.65. The company has a quick ratio of 2.02, a current ratio of 3.07 and a debt-to-equity ratio of 0.30.

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

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.