Roth Capital Brokers Increase Earnings Estimates for Onsemi (NASDAQ:ON)

Onsemi (NASDAQ:ON) – Investment analysts at Roth Capital lifted their Q3 2024 earnings per share (EPS) estimates for shares of Onsemi in a report released on Monday, July 29th. Roth Capital analyst S. Desilva now forecasts that the semiconductor company will earn $0.97 per share for the quarter, up from their previous forecast of $0.95. The consensus estimate for Onsemi’s current full-year earnings is $4.01 per share. Roth Capital also issued estimates for Onsemi’s FY2024 earnings at $4.03 EPS.

Onsemi (NASDAQ:ON) last released its quarterly earnings results on Monday, July 29th. The semiconductor company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.92 by $0.04. Onsemi had a return on equity of 25.48% and a net margin of 24.84%. The business had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the prior year, the business earned $1.33 earnings per share. The company’s quarterly revenue was down 17.2% compared to the same quarter last year.

Other equities research analysts also recently issued research reports about the stock. Roth Mkm raised their price objective on shares of Onsemi from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday. Benchmark upped their price target on shares of Onsemi from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday. Stifel Nicolaus reduced their price objective on shares of Onsemi from $82.00 to $72.00 and set a “hold” rating for the company in a research note on Thursday, April 18th. KeyCorp dropped their target price on shares of Onsemi from $90.00 to $85.00 and set an “overweight” rating for the company in a report on Tuesday, July 9th. Finally, B. Riley reissued a “buy” rating and set a $103.00 price target (down previously from $115.00) on shares of Onsemi in a research note on Tuesday, April 30th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, Onsemi currently has an average rating of “Hold” and an average target price of $85.61.

Onsemi Stock Down 5.5 %

ON stock opened at $67.95 on Thursday. Onsemi has a one year low of $59.34 and a one year high of $104.87. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.87 and a current ratio of 3.01. The company has a fifty day moving average of $72.60 and a 200-day moving average of $73.18. The stock has a market capitalization of $29.11 billion, a PE ratio of 13.87, a price-to-earnings-growth ratio of 3.40 and a beta of 1.69.

Hedge Funds Weigh In On Onsemi

A number of hedge funds have recently made changes to their positions in the business. Turtle Creek Wealth Advisors LLC acquired a new position in Onsemi during the 4th quarter worth approximately $32,000. MeadowBrook Investment Advisors LLC acquired a new stake in Onsemi during the 4th quarter valued at $33,000. Private Wealth Management Group LLC purchased a new stake in Onsemi during the 4th quarter worth $33,000. Westside Investment Management Inc. lifted its holdings in Onsemi by 5,500.0% in the 1st quarter. Westside Investment Management Inc. now owns 560 shares of the semiconductor company’s stock worth $41,000 after buying an additional 550 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its stake in shares of Onsemi by 36.7% during the second quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock valued at $43,000 after acquiring an additional 169 shares in the last quarter. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Insider Activity at Onsemi

In related news, insider Simon Keeton sold 30,939 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $77.94, for a total value of $2,411,385.66. Following the sale, the insider now directly owns 231,092 shares of the company’s stock, valued at $18,011,310.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Trent Thad sold 38,000 shares of Onsemi stock in a transaction dated Tuesday, June 11th. The stock was 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 directly owns 331,829 shares of the company’s stock, valued at approximately $24,074,193.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Simon Keeton sold 30,939 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $77.94, for a total transaction of $2,411,385.66. Following the completion of the transaction, the insider now owns 231,092 shares in the company, valued at approximately $18,011,310.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 69,850 shares of company stock worth $5,236,119. 0.31% of the stock is currently owned by insiders.

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.