Onsemi (NASDAQ:ON) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Onsemi (NASDAQ:ON) had its price objective lifted by Morgan Stanley from $63.00 to $64.00 in a report issued on Tuesday, Benzinga reports. The firm currently has an underweight rating on the semiconductor company’s stock.

ON has been the subject of a number of other research reports. Roth Mkm increased their target price on shares of Onsemi from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Rosenblatt Securities lifted their price objective on Onsemi from $70.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. StockNews.com lowered Onsemi from a “hold” rating to a “sell” rating in a research report on Monday, August 26th. Citigroup lowered Onsemi from a “buy” rating to a “neutral” rating and reduced their price target for the company from $85.00 to $77.00 in a report on Monday, July 15th. Finally, KeyCorp lowered their price target on Onsemi from $95.00 to $90.00 and set an “overweight” rating for the company in a research note on Tuesday, October 8th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, Onsemi has an average rating of “Moderate Buy” and a consensus price target of $85.91.

Onsemi Price Performance

ON opened at $70.99 on Tuesday. The firm has a market capitalization of $30.23 billion, a P/E ratio of 17.62, a PEG ratio of 7.89 and a beta of 1.65. The stock has a fifty day moving average of $71.27 and a 200-day moving average of $71.52. The company has a quick ratio of 1.95, a current ratio of 3.07 and a debt-to-equity ratio of 0.30. Onsemi has a 12-month low of $59.34 and a 12-month high of $86.77.

Onsemi (NASDAQ:ON) last announced its quarterly earnings data on Monday, October 28th. The semiconductor company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.02. Onsemi had a return on equity of 22.38% and a net margin of 23.80%. The firm had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.75 billion. During the same period last year, the company posted $1.39 EPS. The business’s quarterly revenue was down 19.2% compared to the same quarter last year. Equities analysts forecast that Onsemi will post 4 EPS for the current fiscal year.

Insider Transactions at Onsemi

In related news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $72.71, for a total transaction of $109,065.00. Following the completion of the sale, the chief executive officer now owns 839,210 shares in the company, valued at $61,018,959.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.31% of the stock is currently owned by corporate insiders.

Institutional Trading of Onsemi

A number of hedge funds have recently modified their holdings of ON. Wealth Enhancement Advisory Services LLC grew its stake in shares of Onsemi by 39.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 13,299 shares of the semiconductor company’s stock valued at $978,000 after purchasing an additional 3,735 shares during the period. Azzad Asset Management Inc. ADV bought a new stake in Onsemi in the first quarter valued at $1,068,000. Norden Group LLC acquired a new position in Onsemi during the first quarter worth $774,000. Westside Investment Management Inc. lifted 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 valued at $41,000 after acquiring an additional 550 shares during the period. Finally, First Trust Direct Indexing L.P. boosted its stake in shares of Onsemi by 9.6% in the 1st quarter. First Trust Direct Indexing L.P. now owns 12,130 shares of the semiconductor company’s stock valued at $892,000 after purchasing an additional 1,059 shares in the last quarter. 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.