Onsemi’s (ON) Neutral Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities reaffirmed their neutral rating on shares of Onsemi (NASDAQ:ON) in a research note published on Tuesday, Benzinga reports. The brokerage currently has a $75.00 price target on the semiconductor company’s stock.

Several other analysts have also issued reports on the company. JPMorgan Chase & Co. upped their target price on Onsemi from $85.00 to $88.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Benchmark restated a “buy” rating and issued a $90.00 price objective on shares of Onsemi in a research note on Tuesday. Susquehanna upped their price objective on Onsemi from $85.00 to $95.00 and gave the company a “positive” rating in a research note on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft upped their price objective on Onsemi from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Finally, Morgan Stanley upped their price objective on Onsemi from $63.00 to $64.00 and gave the company an “underweight” rating in a research note on Tuesday. 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $85.91.

Onsemi Stock Performance

ON opened at $70.49 on Tuesday. Onsemi has a 52-week low of $59.34 and a 52-week high of $86.77. The firm has a market capitalization of $30.01 billion, a PE ratio of 17.49, a PEG ratio of 7.89 and a beta of 1.65. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.95 and a current ratio of 3.07. The business’s 50-day simple moving average is $71.43 and its 200 day simple moving average is $71.49.

Onsemi (NASDAQ:ON) last released its earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.02. Onsemi had a return on equity of 22.38% and a net margin of 23.80%. The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same quarter in the prior year, the company posted $1.39 earnings per share. Onsemi’s revenue was down 19.2% on a year-over-year basis. As a group, sell-side analysts expect that Onsemi will post 4 earnings per share for the current fiscal year.

Insider Buying and Selling

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 sale, the chief executive officer now owns 839,210 shares of the company’s stock, valued at $61,018,959.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.31% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Onsemi

A number of large investors have recently added to or reduced their stakes in ON. Wealth Enhancement Advisory Services LLC boosted its holdings 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 in the last quarter. Azzad Asset Management Inc. ADV acquired a new stake in shares of Onsemi in the 1st quarter valued at $1,068,000. Norden Group LLC acquired a new stake in shares of Onsemi in the 1st quarter valued at $774,000. Westside Investment Management Inc. boosted its holdings in shares of Onsemi by 5,500.0% in the 1st quarter. Westside Investment Management Inc. now owns 560 shares of the semiconductor company’s stock valued at $41,000 after purchasing an additional 550 shares in the last quarter. Finally, First Trust Direct Indexing L.P. boosted its holdings 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 and hedge funds own 97.70% of the company’s stock.

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.