Onsemi (NASDAQ:ON) Given New $97.00 Price Target at Truist Financial

Onsemi (NASDAQ:ON) had its price target hoisted by Truist Financial from $85.00 to $97.00 in a research report sent to investors on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the semiconductor company’s stock.

A number of other equities research analysts have also issued reports on ON. Citigroup lowered shares of Onsemi from a buy rating to a neutral rating and cut their price objective for the company from $85.00 to $77.00 in a report on Monday, July 15th. TD Cowen increased their price objective on shares of Onsemi from $85.00 to $90.00 and gave the company a buy rating in a report on Tuesday. Needham & Company LLC reaffirmed a buy rating and set a $92.00 price objective on shares of Onsemi in a report on Thursday, June 13th. KeyCorp cut their price objective 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, Evercore ISI initiated coverage on Onsemi in a research report on Tuesday, April 16th. They set an outperform rating and a $104.00 target price for the company. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Onsemi presently has a consensus rating of Hold and an average target price of $85.61.

Onsemi Trading Down 5.5 %

Onsemi stock opened at $67.95 on Tuesday. The firm has a 50 day moving average of $72.60 and a 200 day moving average of $73.18. The firm has a market capitalization of $29.11 billion, a price-to-earnings ratio of 13.87, a P/E/G ratio of 3.12 and a beta of 1.69. Onsemi has a 12-month low of $59.34 and a 12-month high of $104.87. The company has a current ratio of 3.01, a quick ratio of 1.87 and a debt-to-equity ratio of 0.31.

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

Insider Buying and Selling

In other news, Director Paul Anthony Mascarenas sold 911 shares of Onsemi stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $74.46, for a total transaction of $67,833.06. Following the completion of the sale, the director now directly owns 48,929 shares in the company, valued at $3,643,253.34. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Simon Keeton sold 30,939 shares of Onsemi stock in a transaction on Wednesday, July 31st. The stock was 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 directly owns 231,092 shares in the company, valued at $18,011,310.48. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Paul Anthony Mascarenas sold 911 shares of Onsemi stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $74.46, for a total value of $67,833.06. Following the sale, the director now owns 48,929 shares of the company’s stock, valued at $3,643,253.34. The disclosure for this sale can be found here. Insiders sold a total of 69,850 shares of company stock worth $5,236,119 over the last three months. 0.31% of the stock is owned by insiders.

Institutional Trading of Onsemi

Institutional investors and hedge funds have recently made changes to their positions in the business. First Dallas Securities Inc. increased its stake in shares of Onsemi by 9.9% during the second quarter. First Dallas Securities Inc. now owns 16,390 shares of the semiconductor company’s stock valued at $1,123,000 after buying an additional 1,475 shares during the period. Strategy Asset Managers LLC purchased a new position in shares of Onsemi during the second quarter valued at $962,000. Oregon Public Employees Retirement Fund increased its stake in shares of Onsemi by 1.1% during the second quarter. Oregon Public Employees Retirement Fund now owns 36,923 shares of the semiconductor company’s stock valued at $2,531,000 after buying an additional 410 shares during the period. Rhumbline Advisers increased its stake in shares of Onsemi by 0.3% during the second quarter. Rhumbline Advisers now owns 848,533 shares of the semiconductor company’s stock valued at $58,167,000 after buying an additional 2,475 shares during the period. Finally, Natixis Advisors LLC increased its stake in shares of Onsemi by 13.7% during the second quarter. Natixis Advisors LLC now owns 1,333,555 shares of the semiconductor company’s stock valued at $91,415,000 after buying an additional 160,362 shares during the period. 97.70% of the stock is currently owned by institutional investors.

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.