Onsemi (NASDAQ:ON) Given Consensus Rating of “Moderate Buy” by Brokerages

Onsemi (NASDAQ:ON) has received an average recommendation of “Moderate Buy” from the twenty-four brokerages that are presently covering the company, MarketBeat.com reports. Ten research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $98.52.

Several research firms have recently commented on ON. Rosenblatt Securities restated a “neutral” rating and set a $75.00 price target on shares of Onsemi in a research report on Tuesday, February 6th. TD Cowen raised their price target on Onsemi from $80.00 to $90.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 6th. Needham & Company LLC restated a “buy” rating and set a $92.00 price target on shares of Onsemi in a research report on Tuesday, February 6th. Stifel Nicolaus reiterated a “hold” rating and issued a $82.00 price objective on shares of Onsemi in a research note on Thursday, March 14th. Finally, The Goldman Sachs Group reduced their price objective on Onsemi from $91.00 to $81.00 and set a “buy” rating on the stock in a research note on Tuesday.

Institutional Trading of Onsemi

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Onsemi by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 50,341,366 shares of the semiconductor company’s stock worth $4,205,014,000 after purchasing an additional 321,682 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Onsemi by 1.5% during the first quarter. Geode Capital Management LLC now owns 9,271,748 shares of the semiconductor company’s stock worth $761,615,000 after purchasing an additional 136,908 shares in the last quarter. Capital World Investors acquired a new stake in shares of Onsemi during the fourth quarter worth about $697,276,000. Voya Investment Management LLC increased its position in shares of Onsemi by 16.2% during the fourth quarter. Voya Investment Management LLC now owns 6,229,535 shares of the semiconductor company’s stock worth $520,353,000 after purchasing an additional 868,203 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC increased its position in shares of Onsemi by 122,198.2% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 6,062,322 shares of the semiconductor company’s stock worth $378,107,000 after purchasing an additional 6,057,365 shares in the last quarter. Institutional investors and hedge funds own 97.70% of the company’s stock.

Onsemi Trading Down 1.4 %

Shares of Onsemi stock opened at $64.72 on Friday. Onsemi has a fifty-two week low of $61.47 and a fifty-two week high of $111.35. The stock has a 50 day moving average of $75.68 and a 200 day moving average of $76.84. The firm has a market capitalization of $27.82 billion, a price-to-earnings ratio of 13.24, 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.

Onsemi (NASDAQ:ON) last released its quarterly earnings results 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 business had revenue of $2.02 billion during the quarter, compared to analyst estimates of $2 billion. During the same period last year, the business posted $1.32 earnings per share. The company’s quarterly revenue was down 4.1% on a year-over-year basis. As a group, research analysts predict that Onsemi will post 4.34 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.