Benchmark Reiterates Buy Rating for Onsemi (NASDAQ:ON)

Benchmark reissued their buy rating on shares of Onsemi (NASDAQ:ON) in a report published on Tuesday morning, Benzinga reports. They currently have a $90.00 price objective on the semiconductor company’s stock.

Several other equities analysts have also commented on the stock. Susquehanna increased their price objective on shares of Onsemi from $85.00 to $95.00 and gave the company a “positive” rating in a research report on Wednesday, July 17th. StockNews.com downgraded shares of Onsemi from a “hold” rating to a “sell” rating in a research note on Monday, August 26th. JPMorgan Chase & Co. raised their target price on Onsemi from $85.00 to $88.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Roth Mkm boosted their price target on Onsemi from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Finally, Citigroup downgraded shares of Onsemi from a “buy” rating to a “neutral” rating and cut their price target for the stock from $85.00 to $77.00 in a report on Monday, July 15th. 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 stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $85.91.

Onsemi Price Performance

Shares of ON stock opened at $70.99 on Tuesday. The company has a market cap of $30.23 billion, a P/E ratio of 17.62, a PEG ratio of 7.89 and a beta of 1.65. The stock’s 50-day moving average is $71.27 and its 200 day moving average is $71.52. 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 1.95.

Onsemi (NASDAQ:ON) last issued its quarterly 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 22.38% and a net margin of 23.80%. The business had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.75 billion. During the same period in the prior year, the firm posted $1.39 earnings per share. The business’s quarterly revenue was down 19.2% on a year-over-year basis. Research analysts predict that Onsemi will post 4 earnings per share for the current fiscal year.

Insider Buying and Selling at Onsemi

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $72.71, for a total transaction of $109,065.00. Following the completion of the transaction, the chief executive officer now owns 839,210 shares of the company’s stock, valued at $61,018,959.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Onsemi

A number of hedge funds have recently modified their holdings of ON. Davis Investment Partners LLC boosted its position in shares of Onsemi by 0.8% during the 3rd quarter. Davis Investment Partners LLC now owns 17,112 shares of the semiconductor company’s stock valued at $1,224,000 after acquiring an additional 142 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in Onsemi by 36.7% in the second quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock valued at $43,000 after acquiring an additional 169 shares in the last quarter. Greenleaf Trust lifted its position in shares of Onsemi by 3.4% during the 3rd quarter. Greenleaf Trust now owns 5,262 shares of the semiconductor company’s stock worth $382,000 after purchasing an additional 173 shares during the last quarter. Covestor Ltd boosted its position in shares of Onsemi by 24.5% during the 1st quarter. Covestor Ltd now owns 965 shares of the semiconductor company’s stock worth $71,000 after acquiring an additional 190 shares in the last quarter. Finally, Meridian Financial Partners LLC increased its stake in Onsemi by 1.7% in the third quarter. Meridian Financial Partners LLC now owns 11,305 shares of the semiconductor company’s stock valued at $821,000 after purchasing an additional 192 shares during the last quarter. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Onsemi Company Profile

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.