Onsemi (NASDAQ:ON) Receives Hold Rating from Truist Financial

Onsemi (NASDAQ:ON)‘s stock had its “hold” rating restated by investment analysts at Truist Financial in a research note issued on Friday,Benzinga reports. They currently have a $60.00 price objective on the semiconductor company’s stock, down from their previous price objective of $85.00. Truist Financial’s price target points to a potential upside of 2.90% from the stock’s previous close.

Several other equities analysts also recently commented on ON. Wells Fargo & Company began coverage on shares of Onsemi in a report on Friday, November 22nd. They set an “overweight” rating and a $85.00 price target on the stock. StockNews.com raised Onsemi from a “sell” rating to a “hold” rating in a research note on Tuesday, October 29th. Roth Mkm reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Onsemi in a research report on Thursday, December 12th. Robert W. Baird lifted their target price on Onsemi from $70.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Finally, Morgan Stanley upped their price target on shares of Onsemi from $63.00 to $64.00 and gave the stock an “underweight” rating in a report on Tuesday, October 29th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Onsemi currently has a consensus rating of “Moderate Buy” and an average target price of $84.61.

Onsemi Stock Down 7.0 %

Shares of ON stock opened at $58.31 on Friday. The company’s fifty day simple moving average is $67.20 and its two-hundred day simple moving average is $70.35. Onsemi has a 52 week low of $57.96 and a 52 week high of $85.16. The stock has a market cap of $24.83 billion, a P/E ratio of 14.47, a PEG ratio of 7.07 and a beta of 1.64. The company has a quick ratio of 2.02, a current ratio of 3.07 and a debt-to-equity ratio of 0.30.

Onsemi (NASDAQ:ON) last issued its quarterly earnings data 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 analysts’ expectations of $1.75 billion. During the same period in the prior year, the firm earned $1.39 EPS. The company’s revenue for the quarter was down 19.2% on a year-over-year basis. Analysts predict that Onsemi will post 4 EPS for the current fiscal year.

Insider Activity at Onsemi

In other news, CEO Hassane El-Khoury sold 1,500 shares of the firm’s stock in a transaction dated 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 directly owns 839,210 shares in the company, valued at $61,018,959.10. This trade represents a 0.18 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.31% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Davis Investment Partners LLC increased its stake in shares of Onsemi by 0.8% in the 3rd quarter. Davis Investment Partners LLC now owns 17,112 shares of the semiconductor company’s stock worth $1,224,000 after acquiring an additional 142 shares during the last quarter. Greenleaf Trust increased its position in Onsemi by 3.4% during the third quarter. Greenleaf Trust now owns 5,262 shares of the semiconductor company’s stock worth $382,000 after purchasing an additional 173 shares during the last quarter. Meridian Financial Partners LLC boosted its holdings in Onsemi by 1.7% in the 3rd quarter. Meridian Financial Partners LLC now owns 11,305 shares of the semiconductor company’s stock valued at $821,000 after purchasing an additional 192 shares during the last quarter. Dynamic Advisor Solutions LLC grew its stake in shares of Onsemi by 4.5% in the 3rd quarter. Dynamic Advisor Solutions LLC now owns 4,823 shares of the semiconductor company’s stock valued at $350,000 after buying an additional 206 shares during the period. Finally, Sentry Investment Management LLC increased its holdings in shares of Onsemi by 3.0% during the 3rd quarter. Sentry Investment Management LLC now owns 7,177 shares of the semiconductor company’s stock worth $521,000 after buying an additional 209 shares during the last quarter. 97.70% of the stock is owned by institutional investors and hedge funds.

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.