BNP Paribas Reiterates “Underperform” Rating for Onsemi (NASDAQ:ON)

Onsemi (NASDAQ:ON)‘s stock had its “underperform” rating reaffirmed by stock analysts at BNP Paribas in a research report issued to clients and investors on Friday, Marketbeat Ratings reports. They presently have a $55.00 price objective on the semiconductor company’s stock. BNP Paribas’ price objective would suggest a potential downside of 12.60% from the stock’s current price.

A number of other research firms have also weighed in on ON. JPMorgan Chase & Co. reduced their price objective on Onsemi from $95.00 to $90.00 and set a “neutral” rating for the company in a research report on Tuesday, February 6th. Stifel Nicolaus cut their target price on Onsemi from $82.00 to $72.00 and set a “hold” rating on the stock in a research note on Thursday. Roth Mkm upped their target price on Onsemi from $75.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, February 6th. Rosenblatt Securities reissued a “neutral” rating and issued a $75.00 target price on shares of Onsemi in a research report on Tuesday, February 6th. Finally, Evercore ISI started coverage on Onsemi in a research note on Tuesday. They issued an “outperform” rating and a $104.00 price target for the company. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $96.52.

Onsemi Stock Performance

NASDAQ:ON opened at $62.93 on Friday. The stock’s 50-day simple moving average is $75.07 and its 200 day simple moving average is $76.66. Onsemi has a twelve month low of $61.47 and a twelve month high of $111.35. The firm has a market capitalization of $27.05 billion, a PE ratio of 12.87, a price-to-earnings-growth ratio of 6.27 and a beta of 1.80. The company has a quick ratio of 1.74, a current ratio of 2.71 and a debt-to-equity ratio of 0.33.

Onsemi (NASDAQ:ON) last released its quarterly earnings data on Monday, February 5th. The semiconductor company reported $1.25 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $2 billion. During the same quarter in the previous year, the company posted $1.32 earnings per share. The company’s quarterly revenue was down 4.1% on a year-over-year basis. On average, analysts anticipate that Onsemi will post 4.32 EPS for the current fiscal year.

Institutional Trading of Onsemi

Hedge funds and other institutional investors have recently made changes to their positions in the business. Capital World Investors acquired a new position in shares of Onsemi during the 4th quarter worth $697,276,000. Moneta Group Investment Advisors LLC grew its stake in Onsemi by 122,198.2% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 6,062,322 shares of the semiconductor company’s stock valued at $378,107,000 after buying an additional 6,057,365 shares during the last quarter. Norges Bank bought a new stake in Onsemi in the 4th quarter valued at $418,102,000. Alliancebernstein L.P. boosted its holdings in Onsemi by 114.5% in the 4th quarter. Alliancebernstein L.P. now owns 5,139,098 shares of the semiconductor company’s stock valued at $320,526,000 after purchasing an additional 2,743,216 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Onsemi by 231.0% in the 1st 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 purchasing an additional 2,568,864 shares during the period. 97.70% of the stock is currently owned by 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.