Onsemi’s (ON) “Buy” Rating Reiterated at Needham & Company LLC

Onsemi (NASDAQ:ON)‘s stock had its “buy” rating reaffirmed by Needham & Company LLC in a research note issued to investors on Tuesday, Benzinga reports. They presently have a $92.00 price target on the semiconductor company’s stock. Needham & Company LLC’s target price would suggest a potential upside of 33.31% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on ON. TD Cowen reduced their price objective on Onsemi from $90.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday. Truist Financial reduced their price objective on Onsemi from $94.00 to $89.00 and set a “buy” rating for the company in a report on Tuesday, February 6th. Wells Fargo & Company reduced their price objective on Onsemi from $110.00 to $95.00 and set an “overweight” rating for the company in a report on Tuesday, April 23rd. StockNews.com upgraded Onsemi from a “sell” rating to a “hold” rating in a report on Wednesday, February 14th. Finally, Morgan Stanley cut their price target on Onsemi from $80.00 to $70.00 and set an “equal weight” rating for the company in a research note on Monday, April 22nd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $90.24.

Onsemi Trading Down 1.6 %

Onsemi stock opened at $69.01 on Tuesday. Onsemi has a 52 week low of $59.34 and a 52 week high of $111.35. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.74 and a current ratio of 2.87. The stock has a market capitalization of $29.66 billion, a P/E ratio of 14.21, a PEG ratio of 7.03 and a beta of 1.80. The stock has a 50-day simple moving average of $72.80 and a 200 day simple moving average of $74.99.

Onsemi (NASDAQ:ON) last posted its quarterly earnings results on Monday, April 29th. The semiconductor company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04. Onsemi had a return on equity of 28.86% and a net margin of 26.67%. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same quarter last year, the company posted $1.19 earnings per share. Onsemi’s quarterly revenue was down 4.9% on a year-over-year basis. Analysts expect that Onsemi will post 4.23 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Iridian Asset Management LLC CT increased its holdings in shares of Onsemi by 7.0% during the first quarter. Iridian Asset Management LLC CT now owns 51,475 shares of the semiconductor company’s stock worth $3,786,000 after buying an additional 3,369 shares in the last quarter. Wambolt & Associates LLC grew its stake in shares of Onsemi by 41.2% in the first quarter. Wambolt & Associates LLC now owns 24,037 shares of the semiconductor company’s stock worth $1,775,000 after purchasing an additional 7,012 shares during the last quarter. Norden Group LLC bought a new stake in shares of Onsemi in the first quarter worth $774,000. Van ECK Associates Corp grew its stake in shares of Onsemi by 25.7% in the first quarter. Van ECK Associates Corp now owns 2,564,123 shares of the semiconductor company’s stock worth $188,591,000 after purchasing an additional 523,655 shares during the last quarter. Finally, Fortis Group Advisors LLC bought a new stake in shares of Onsemi in the first quarter worth $1,032,000. 97.70% of the stock is currently owned by institutional investors and hedge funds.

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.