Onsemi (NASDAQ:ON) Receives $85.61 Average Price Target from Brokerages

Shares of Onsemi (NASDAQ:ON) have been given a consensus recommendation of “Moderate Buy” by the twenty-four analysts that are presently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $85.83.

A number of equities research analysts have recently issued reports on ON shares. Morgan Stanley downgraded shares of Onsemi from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $70.00 to $65.00 in a report on Thursday, July 11th. Needham & Company LLC reissued a “buy” rating and issued a $92.00 price target on shares of Onsemi in a report on Thursday, June 13th. Susquehanna increased their price target on shares of Onsemi from $85.00 to $95.00 and gave the stock a “positive” rating in a report on Wednesday, July 17th. Bank of America raised their target price on shares of Onsemi from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Finally, KeyCorp lowered their target price on shares of Onsemi from $95.00 to $90.00 and set an “overweight” rating on the stock in a research note on Tuesday.

Onsemi Price Performance

NASDAQ ON opened at $70.31 on Friday. The company has a market cap of $30.12 billion, a PE ratio of 16.02, a price-to-earnings-growth ratio of 3.81 and a beta of 1.65. Onsemi has a 52 week low of $59.34 and a 52 week high of $95.59. The company has a quick ratio of 1.95, a current ratio of 3.01 and a debt-to-equity ratio of 0.31. The firm’s 50-day simple moving average is $72.01 and its two-hundred day simple moving average is $71.59.

Onsemi (NASDAQ:ON) last announced its quarterly earnings results on Monday, July 29th. The semiconductor company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. Onsemi had a net margin of 24.84% and a return on equity of 25.48%. The firm had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the prior year, the firm posted $1.33 earnings per share. The company’s revenue for the quarter was down 17.2% on a year-over-year basis. Research analysts predict that Onsemi will post 4.01 earnings per share for the current year.

Insider Transactions at Onsemi

In other news, CEO Hassane El-Khoury sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $70.80, for a total value of $106,200.00. Following the transaction, the chief executive officer now owns 840,620 shares in the company, valued at approximately $59,515,896. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi stock in a transaction on Monday, September 16th. The shares were sold at an average price of $70.80, for a total value of $106,200.00. Following the sale, the chief executive officer now owns 840,620 shares in the company, valued at $59,515,896. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Simon Keeton sold 30,939 shares of Onsemi stock in a transaction 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 sale, the insider now owns 231,092 shares in the company, valued at approximately $18,011,310.48. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

Institutional Trading of Onsemi

Several large investors have recently added to or reduced their stakes in ON. Stifel Financial Corp boosted its holdings in Onsemi by 15.8% in the fourth quarter. Stifel Financial Corp now owns 122,528 shares of the semiconductor company’s stock valued at $10,235,000 after acquiring an additional 16,762 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Onsemi by 8.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 456,999 shares of the semiconductor company’s stock valued at $38,188,000 after buying an additional 35,362 shares during the period. Royal London Asset Management Ltd. lifted its position in Onsemi by 0.8% during the fourth quarter. Royal London Asset Management Ltd. now owns 156,378 shares of the semiconductor company’s stock valued at $13,062,000 after buying an additional 1,238 shares during the period. Capital International Investors lifted its position in Onsemi by 1.1% during the fourth quarter. Capital International Investors now owns 4,064,889 shares of the semiconductor company’s stock valued at $339,590,000 after buying an additional 43,565 shares during the period. Finally, Capital World Investors purchased a new position in Onsemi during the fourth quarter valued at $697,276,000. Institutional investors own 97.70% of the company’s stock.

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.