Roth Mkm Raises Onsemi (NASDAQ:ON) Price Target to $100.00

Onsemi (NASDAQ:ON) had its price target hoisted by Roth Mkm from $90.00 to $100.00 in a report published on Tuesday morning, Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

A number of other brokerages also recently commented on ON. Mizuho lowered their price objective on Onsemi from $92.00 to $87.00 and set a buy rating for the company in a research report on Tuesday, April 30th. Needham & Company LLC reaffirmed a buy rating and issued a $92.00 price objective on shares of Onsemi in a research report on Thursday, June 13th. Citigroup downgraded Onsemi from a buy rating to a neutral rating and lowered their price objective for the company from $85.00 to $77.00 in a research report on Monday, July 15th. Morgan Stanley downgraded Onsemi from an equal weight rating to an underweight rating and lowered their price objective for the company from $70.00 to $65.00 in a research report on Thursday, July 11th. Finally, Jefferies Financial Group initiated coverage on Onsemi in a research report on Monday, May 13th. They issued a buy rating and a $100.00 price objective for the company. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $85.61.

Onsemi Stock Performance

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

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

Insider Buying and Selling

In related news, insider Simon Keeton sold 30,939 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $77.94, for a total value of $2,411,385.66. Following the transaction, the insider now owns 231,092 shares in the company, valued at $18,011,310.48. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Simon Keeton sold 30,939 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $77.94, for a total value of $2,411,385.66. Following the transaction, the insider now owns 231,092 shares in the company, valued at $18,011,310.48. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 value of $67,833.06. Following the completion of the transaction, the director now owns 48,929 shares in the company, valued at approximately $3,643,253.34. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 69,850 shares of company stock worth $5,236,119. 0.31% of the stock is currently owned by corporate insiders.

Institutional Trading of Onsemi

Several institutional investors and hedge funds have recently bought and sold shares of ON. Oak Thistle LLC acquired a new stake in Onsemi during the fourth quarter valued at approximately $516,000. State of Michigan Retirement System raised its stake in Onsemi by 3.6% during the fourth quarter. State of Michigan Retirement System now owns 140,536 shares of the semiconductor company’s stock valued at $11,739,000 after buying an additional 4,900 shares in the last quarter. Baker Ellis Asset Management LLC raised its stake in Onsemi by 3.3% during the fourth quarter. Baker Ellis Asset Management LLC now owns 70,351 shares of the semiconductor company’s stock valued at $5,876,000 after buying an additional 2,259 shares in the last quarter. KG&L Capital Management LLC acquired a new stake in shares of Onsemi during the 4th quarter worth approximately $390,000. Finally, KRS Capital Management LLC raised its position in shares of Onsemi by 6.7% during the 4th quarter. KRS Capital Management LLC now owns 8,390 shares of the semiconductor company’s stock worth $701,000 after purchasing an additional 525 shares during the period. Institutional investors and hedge funds 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.