TD Cowen Issues Positive Forecast for Onsemi (NASDAQ:ON) Stock Price

Onsemi (NASDAQ:ON) had its price objective upped by TD Cowen from $38.00 to $44.00 in a report published on Tuesday, MarketBeat Ratings reports. They currently have a buy rating on the semiconductor company’s stock.

Other analysts have also issued reports about the company. B. Riley lowered Onsemi from a “buy” rating to a “neutral” rating and set a $41.00 price target on the stock. in a report on Thursday, April 24th. Wells Fargo & Company cut their target price on Onsemi from $80.00 to $60.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 11th. JPMorgan Chase & Co. decreased their price target on shares of Onsemi from $88.00 to $60.00 and set a “neutral” rating for the company in a research note on Tuesday, February 11th. Roth Capital set a $60.00 target price on shares of Onsemi in a report on Friday, March 7th. Finally, Morgan Stanley decreased their target price on shares of Onsemi from $52.00 to $44.00 and set an “underweight” rating for the company in a research report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $54.32.

Onsemi Price Performance

ON opened at $38.51 on Tuesday. Onsemi has a 52 week low of $31.04 and a 52 week high of $80.08. The company has a fifty day moving average price of $40.06 and a two-hundred day moving average price of $54.48. The firm has a market capitalization of $16.25 billion, a PE ratio of 10.61, a P/E/G ratio of 16.74 and a beta of 1.39. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.38 and a current ratio of 5.06.

Onsemi (NASDAQ:ON) last announced its quarterly earnings results on Monday, May 5th. The semiconductor company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. Onsemi had a net margin of 22.21% and a return on equity of 20.10%. The firm had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the previous year, the firm posted $1.08 earnings per share. The business’s revenue was down 22.4% on a year-over-year basis. As a group, analysts anticipate that Onsemi will post 2.6 earnings per share for the current year.

Hedge Funds Weigh In On Onsemi

Several institutional investors and hedge funds have recently made changes to their positions in the company. Golden State Wealth Management LLC boosted its stake in Onsemi by 83.3% in the 1st quarter. Golden State Wealth Management LLC now owns 704 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 320 shares during the period. Elequin Capital LP grew its position in Onsemi by 108.3% during the fourth quarter. Elequin Capital LP now owns 527 shares of the semiconductor company’s stock worth $33,000 after buying an additional 274 shares in the last quarter. Newbridge Financial Services Group Inc. bought a new stake in shares of Onsemi during the 4th quarter valued at $41,000. Opal Wealth Advisors LLC acquired a new stake in Onsemi during the first quarter worth about $41,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new position in Onsemi in the 4th quarter valued at about $43,000. Institutional investors and hedge funds own 97.70% of the company’s stock.

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.