Onsemi (NASDAQ:ON) Receives $90.28 Average Price Target from Brokerages

Onsemi (NASDAQ:ON) has earned an average rating of “Moderate Buy” from the twenty-six brokerages that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and sixteen have issued a buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $90.28.

A number of equities analysts recently commented on ON shares. Benchmark dropped their price target on shares of Onsemi from $88.00 to $80.00 and set a “buy” rating for the company in a research note on Tuesday, April 30th. Truist Financial dropped their target price on Onsemi from $89.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, April 30th. Deutsche Bank Aktiengesellschaft reduced their price target on Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, April 30th. BNP Paribas restated an “underperform” rating and set a $55.00 price objective on shares of Onsemi in a report on Friday, April 19th. Finally, Susquehanna reduced their target price on Onsemi from $90.00 to $85.00 and set a “positive” rating on the stock in a research note on Tuesday, April 30th.

Insider Buying and Selling at Onsemi

In other news, CFO Trent Thad sold 38,000 shares of Onsemi stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $72.55, for a total value of $2,756,900.00. Following the transaction, the chief financial officer now owns 331,829 shares of the company’s stock, valued at approximately $24,074,193.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Paul Anthony Mascarenas sold 911 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $74.46, for a total transaction of $67,833.06. Following the sale, the director now owns 48,929 shares in the company, valued at $3,643,253.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Trent Thad sold 38,000 shares of Onsemi stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $72.55, for a total transaction of $2,756,900.00. Following the completion of the sale, the chief financial officer now owns 331,829 shares of the company’s stock, valued at $24,074,193.95. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Turtle Creek Wealth Advisors LLC purchased a new stake in Onsemi in the fourth quarter valued at approximately $32,000. MeadowBrook Investment Advisors LLC purchased a new stake in shares of Onsemi in the 4th quarter valued at $33,000. Private Wealth Management Group LLC purchased a new stake in shares of Onsemi in the 4th quarter valued at $33,000. Westside Investment Management Inc. raised its holdings in shares of Onsemi by 5,500.0% during the first quarter. Westside Investment Management Inc. now owns 560 shares of the semiconductor company’s stock worth $41,000 after purchasing an additional 550 shares during the last quarter. Finally, Headinvest LLC acquired a new position in Onsemi during the third quarter valued at $44,000. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Onsemi Stock Performance

Onsemi stock opened at $68.55 on Wednesday. The company has a quick ratio of 1.87, a current ratio of 2.87 and a debt-to-equity ratio of 0.32. Onsemi has a twelve month low of $59.34 and a twelve month high of $111.35. The company’s 50-day moving average price is $70.90 and its 200-day moving average price is $74.32. The company has a market cap of $29.49 billion, a PE ratio of 13.99, a price-to-earnings-growth ratio of 3.12 and a beta of 1.71.

Onsemi (NASDAQ:ON) last released its earnings results 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. The firm had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.85 billion. Onsemi had a return on equity of 28.86% and a net margin of 26.67%. The company’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.19 EPS. On average, equities research analysts forecast that Onsemi will post 3.83 EPS for the current fiscal 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.