Onsemi (NASDAQ:ON) Rating Increased to Hold at StockNews.com

Onsemi (NASDAQ:ON) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Tuesday.

Several other equities research analysts have also recently commented on ON. TD Cowen lowered their target price on Onsemi from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Friday. JPMorgan Chase & Co. lifted their price target on shares of Onsemi from $85.00 to $88.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Citigroup lowered shares of Onsemi from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $85.00 to $77.00 in a report on Monday, July 15th. KeyCorp cut their price target on Onsemi from $95.00 to $90.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 8th. Finally, Morgan Stanley upped their price objective on Onsemi from $63.00 to $64.00 and gave the company an “underweight” rating in a report on Tuesday. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $85.57.

Onsemi Stock Up 3.4 %

NASDAQ:ON traded up $2.46 during mid-day trading on Tuesday, reaching $74.70. The stock had a trading volume of 8,220,732 shares, compared to its average volume of 6,780,808. The stock has a market cap of $32.00 billion, a P/E ratio of 18.54, a PEG ratio of 3.82 and a beta of 1.65. The business’s 50 day moving average is $71.49 and its 200 day moving average is $71.48. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.01 and a quick ratio of 1.95. Onsemi has a fifty-two week low of $59.34 and a fifty-two week high of $86.77.

Onsemi (NASDAQ:ON) last announced its earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.02. The firm had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.75 billion. Onsemi had a return on equity of 25.48% and a net margin of 24.84%. The company’s revenue was down 19.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.39 earnings per share. As a group, sell-side analysts predict that Onsemi will post 4.01 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Simon Keeton sold 30,939 shares of Onsemi stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $77.94, for a total value 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $70.80, for a total transaction of $106,200.00. Following the transaction, the chief executive officer now owns 840,620 shares in the company, valued at approximately $59,515,896. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Simon Keeton sold 30,939 shares of the business’s stock in a transaction that occurred on 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 sale, the insider now owns 231,092 shares of the company’s stock, valued at $18,011,310.48. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,939 shares of company stock valued at $2,626,651 over the last three months. 0.31% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ON. GHP Investment Advisors Inc. grew its stake in shares of Onsemi by 12,850.0% in the third quarter. GHP Investment Advisors Inc. now owns 518 shares of the semiconductor company’s stock worth $38,000 after acquiring an additional 514 shares in the last quarter. Westside Investment Management Inc. grew its stake in Onsemi by 5,500.0% during the 1st quarter. Westside Investment Management Inc. now owns 560 shares of the semiconductor company’s stock worth $41,000 after purchasing an additional 550 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its holdings in Onsemi by 36.7% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 169 shares during the period. International Assets Investment Management LLC acquired a new stake in Onsemi in the 2nd quarter valued at about $43,000. Finally, Fidelis Capital Partners LLC purchased a new position in shares of Onsemi in the 1st quarter valued at about $45,000. Hedge funds and other institutional investors 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.