Onsemi (NASDAQ:ON) Coverage Initiated by Analysts at Loop Capital

Loop Capital assumed coverage on shares of Onsemi (NASDAQ:ON) in a report released on Monday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $95.00 target price on the semiconductor company’s stock.

ON has been the topic of a number of other research reports. StockNews.com raised Onsemi from a “sell” rating to a “hold” rating in a research note on Tuesday, October 29th. Rosenblatt Securities reissued a “neutral” rating and issued a $75.00 price target on shares of Onsemi in a research note on Tuesday, October 29th. Morgan Stanley increased their price target on Onsemi from $63.00 to $64.00 and gave the company an “underweight” rating in a research note on Tuesday, October 29th. 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. Finally, JPMorgan Chase & Co. increased their price target on Onsemi from $85.00 to $88.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $86.30.

Onsemi Stock Down 2.5 %

NASDAQ:ON opened at $68.49 on Monday. The stock’s fifty day moving average price is $70.55 and its two-hundred day moving average price is $71.94. Onsemi has a 52-week low of $59.34 and a 52-week high of $86.77. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.02 and a current ratio of 3.07. The company has a market cap of $29.16 billion, a price-to-earnings ratio of 17.00, a P/E/G ratio of 7.53 and a beta of 1.65.

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

Insiders Place Their Bets

In other news, CEO Hassane El-Khoury sold 1,500 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 839,210 shares in the company, valued at $61,018,959.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Onsemi

Hedge funds have recently modified their holdings of the stock. Swedbank AB acquired a new stake in Onsemi in the 1st quarter valued at about $90,274,000. Bridgewater Associates LP lifted its stake 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 purchasing an additional 1,109,778 shares during the last quarter. American Century Companies Inc. lifted its stake in Onsemi by 451.3% in 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 purchasing an additional 909,558 shares during the last quarter. M&G Plc acquired a new stake in Onsemi in the 1st quarter valued at about $57,900,000. Finally, Van ECK Associates Corp lifted its stake in Onsemi by 26.4% in the 3rd 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. 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.