Onsemi (NASDAQ:ON) Price Target Raised to $88.00

Onsemi (NASDAQ:ON) had its price target upped by JPMorgan Chase & Co. from $85.00 to $88.00 in a report published on Tuesday, Benzinga reports. The firm currently has a neutral rating on the semiconductor company’s stock.

A number of other analysts also recently issued reports on ON. B. Riley reaffirmed a buy rating and set a $103.00 price target (down previously from $115.00) on shares of Onsemi in a report on Tuesday, April 30th. Stifel Nicolaus dropped their target price on shares of Onsemi from $82.00 to $72.00 and set a hold rating on the stock in a report on Thursday, April 18th. Rosenblatt Securities decreased their target price on shares of Onsemi from $75.00 to $70.00 and set a neutral rating for the company in a research note on Tuesday, April 30th. Benchmark raised their price target on Onsemi from $80.00 to $90.00 and gave the stock a buy rating in a research note on Tuesday. Finally, Truist Financial dropped their target price on Onsemi from $89.00 to $85.00 and set a buy rating on the stock in a research report on Tuesday, April 30th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of $85.61.

Onsemi Stock Performance

Shares of Onsemi stock opened at $71.90 on Tuesday. Onsemi has a 1 year low of $59.34 and a 1 year high of $107.16. The firm’s 50-day moving average is $72.69 and its 200 day moving average is $73.23. The stock has a market cap of $30.80 billion, a price-to-earnings ratio of 14.67, a PEG ratio of 3.40 and a beta of 1.69. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.01 and a quick ratio of 1.87.

Onsemi (NASDAQ:ON) last posted its earnings results on Monday, July 29th. The semiconductor company reported $0.96 EPS 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 business had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same quarter last year, the company earned $1.33 EPS. The company’s quarterly revenue was down 17.2% compared to the same quarter last year. Sell-side analysts anticipate that Onsemi will post 4.01 EPS for the current fiscal year.

Insider Activity at Onsemi

In other news, Director Paul Anthony Mascarenas sold 911 shares of Onsemi 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 sale, the director now directly owns 48,929 shares of the company’s stock, valued at $3,643,253.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Trent Thad sold 38,000 shares of the stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $72.55, for a total value of $2,756,900.00. Following the completion of the transaction, the chief financial officer now owns 331,829 shares of the company’s stock, valued at approximately $24,074,193.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Paul Anthony Mascarenas sold 911 shares of the business’s stock in a transaction that occurred 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 directly owns 48,929 shares in the company, valued at $3,643,253.34. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Onsemi

Several large investors have recently modified their holdings of ON. Rhumbline Advisers lifted its position in Onsemi by 0.3% in the second quarter. Rhumbline Advisers now owns 848,533 shares of the semiconductor company’s stock worth $58,167,000 after buying an additional 2,475 shares during the last quarter. Natixis Advisors LLC raised its stake in shares of Onsemi by 13.7% in the second quarter. Natixis Advisors LLC now owns 1,333,555 shares of the semiconductor company’s stock valued at $91,415,000 after acquiring an additional 160,362 shares during the period. Mizuho Securities Co. Ltd. boosted its stake in shares of Onsemi by 205.5% during the 2nd quarter. Mizuho Securities Co. Ltd. now owns 1,680 shares of the semiconductor company’s stock worth $115,000 after purchasing an additional 1,130 shares during the period. Bellwether Advisors LLC grew its holdings in Onsemi by 54.3% during the 2nd quarter. Bellwether Advisors LLC now owns 137,684 shares of the semiconductor company’s stock valued at $9,438,000 after purchasing an additional 48,445 shares during the last quarter. Finally, Aptus Capital Advisors LLC purchased a new stake in Onsemi in the 2nd quarter worth about $2,327,000. 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.