Onsemi (NASDAQ:ON) Now Covered by Analysts at Evercore ISI

Investment analysts at Evercore ISI started coverage on shares of Onsemi (NASDAQ:ON) in a report issued on Tuesday, Benzinga reports. The brokerage set an “outperform” rating and a $104.00 price target on the semiconductor company’s stock. Evercore ISI’s price objective points to a potential upside of 58.44% from the company’s current price.

A number of other equities analysts have also recently commented on ON. Needham & Company LLC reiterated a “buy” rating and issued a $92.00 target price on shares of Onsemi in a report on Tuesday, February 6th. StockNews.com upgraded Onsemi from a “sell” rating to a “hold” rating in a report on Wednesday, February 14th. Roth Mkm boosted their price objective on Onsemi from $75.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, February 6th. Rosenblatt Securities restated a “neutral” rating and set a $75.00 price objective on shares of Onsemi in a report on Tuesday, February 6th. Finally, Stifel Nicolaus restated a “hold” rating and set a $82.00 price objective on shares of Onsemi in a report on Thursday, March 14th. Eleven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $99.00.

Onsemi Trading Down 1.5 %

Shares of NASDAQ:ON opened at $65.64 on Tuesday. The stock has a market capitalization of $28.22 billion, a price-to-earnings ratio of 13.42, a PEG ratio of 6.45 and a beta of 1.80. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.74 and a current ratio of 2.71. The stock’s 50-day simple moving average is $75.91 and its two-hundred day simple moving average is $77.04. Onsemi has a 52-week low of $61.47 and a 52-week high of $111.35.

Onsemi (NASDAQ:ON) last posted its quarterly earnings data on Monday, February 5th. The semiconductor company reported $1.25 EPS for the quarter, topping the consensus estimate of $1.21 by $0.04. Onsemi had a return on equity of 31.36% and a net margin of 26.46%. The firm had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $2 billion. During the same quarter last year, the company earned $1.32 earnings per share. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. Analysts expect that Onsemi will post 4.34 EPS for the current year.

Institutional Trading of Onsemi

A number of hedge funds and other institutional investors have recently modified their holdings of ON. Capital World Investors acquired a new position in Onsemi in the fourth quarter valued at approximately $697,276,000. Moneta Group Investment Advisors LLC boosted its stake in Onsemi by 122,198.2% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 6,062,322 shares of the semiconductor company’s stock valued at $378,107,000 after acquiring an additional 6,057,365 shares during the period. Norges Bank acquired a new position in Onsemi in the fourth quarter valued at approximately $418,102,000. Alliancebernstein L.P. boosted its stake in Onsemi by 114.5% in the fourth quarter. Alliancebernstein L.P. now owns 5,139,098 shares of the semiconductor company’s stock valued at $320,526,000 after acquiring an additional 2,743,216 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in Onsemi by 231.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,681,038 shares of the semiconductor company’s stock valued at $303,024,000 after acquiring an additional 2,568,864 shares during the period. 97.70% of the stock is owned by hedge funds and other institutional investors.

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.