Onsemi (NASDAQ:ON) Rating Reiterated by Needham & Company LLC

Onsemi (NASDAQ:ON)‘s stock had its “buy” rating restated by Needham & Company LLC in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $92.00 price target on the semiconductor company’s stock. Needham & Company LLC’s target price suggests a potential upside of 29.91% from the stock’s current price.

ON has been the topic of a number of other reports. StockNews.com upgraded shares of Onsemi from a “sell” rating to a “hold” rating in a research report on Wednesday, February 14th. BNP Paribas restated an “underperform” rating and set a $55.00 target price on shares of Onsemi in a research report on Friday, April 19th. Rosenblatt Securities dropped their target price on shares of Onsemi from $75.00 to $70.00 and set a “neutral” rating for the company in a report on Tuesday. Wells Fargo & Company decreased their price target on Onsemi from $110.00 to $95.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 23rd. Finally, Stifel Nicolaus reduced their price objective on Onsemi from $82.00 to $72.00 and set a “hold” rating for the company in a report on Thursday, April 18th. One analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $94.48.

Onsemi Trading Up 4.1 %

Shares of Onsemi stock opened at $70.82 on Tuesday. The company has a current ratio of 2.71, a quick ratio of 1.74 and a debt-to-equity ratio of 0.33. Onsemi has a 12-month low of $59.34 and a 12-month high of $111.35. The stock has a market cap of $30.44 billion, a price-to-earnings ratio of 14.48, a PEG ratio of 6.71 and a beta of 1.80. The company has a fifty day simple moving average of $73.11 and a 200-day simple moving average of $75.28.

Onsemi (NASDAQ:ON) last posted its quarterly earnings data on Monday, April 29th. The semiconductor company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.04. Onsemi had a return on equity of 31.36% and a net margin of 26.46%. The business had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same period in the prior year, the company earned $1.19 earnings per share. The company’s revenue was down 4.9% compared to the same quarter last year. On average, equities analysts forecast that Onsemi will post 4.26 EPS for the current fiscal year.

Institutional Trading of Onsemi

A number of institutional investors and hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC lifted its position in Onsemi by 7,749.6% during the fourth quarter. International Assets Investment Management LLC now owns 83,363 shares of the semiconductor company’s stock valued at $6,963,000 after buying an additional 82,301 shares in the last quarter. Harvest Fund Management Co. Ltd boosted its position in Onsemi by 7.1% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 9,610 shares of the semiconductor company’s stock worth $798,000 after purchasing an additional 637 shares during the period. State of Michigan Retirement System increased its holdings in Onsemi by 3.6% in the 4th quarter. State of Michigan Retirement System now owns 140,536 shares of the semiconductor company’s stock valued at $11,739,000 after purchasing an additional 4,900 shares in the last quarter. Synergy Asset Management LLC raised its position in Onsemi by 91.5% in the fourth quarter. Synergy Asset Management LLC now owns 154,649 shares of the semiconductor company’s stock valued at $12,918,000 after purchasing an additional 73,909 shares during the period. Finally, Handelsinvest Investeringsforvaltning acquired a new position in shares of Onsemi during the fourth quarter worth about $1,137,000. 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.