Onsemi (NASDAQ:ON) Receives Average Recommendation of "Moderate Buy" from Brokerages

Shares of Onsemi (NASDAQ:ON - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the twenty-three analysts that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and fifteen have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $84.43.

A number of brokerages have weighed in on ON. Rosenblatt Securities reissued a "neutral" rating and set a $75.00 price target on shares of Onsemi in a research report on Tuesday, October 29th. Wells Fargo & Company initiated coverage on shares of Onsemi in a research report on Friday, November 22nd. They issued an "overweight" rating and a $85.00 target price for the company. Morgan Stanley lifted their price objective on shares of Onsemi from $63.00 to $64.00 and gave the stock an "underweight" rating in a research note on Tuesday, October 29th. Mizuho set a $85.00 price target on Onsemi in a research note on Friday, October 18th. Finally, The Goldman Sachs Group lowered their price objective on Onsemi from $92.00 to $77.00 and set a "buy" rating on the stock in a research note on Friday.

Insider Activity

In related news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $71.00, for a total value of $106,500.00. Following the transaction, the chief executive officer now directly owns 837,710 shares in the company, valued at $59,477,410. This trade represents a 0.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.31% of the stock is currently owned by company insiders.

Institutional Trading of Onsemi

Several institutional investors and hedge funds have recently modified their holdings of ON. Geode Capital Management LLC grew its holdings in shares of Onsemi by 3.0% in the third quarter. Geode Capital Management LLC now owns 10,602,000 shares of the semiconductor company's stock valued at $767,646,000 after acquiring an additional 309,445 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Onsemi by 18.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,217,221 shares of the semiconductor company's stock valued at $289,088,000 after purchasing an additional 665,633 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of Onsemi by 26.4% during the 3rd quarter. Van ECK Associates Corp now owns 3,495,056 shares of the semiconductor company's stock worth $237,559,000 after purchasing an additional 729,081 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Onsemi by 14.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,968,160 shares of the semiconductor company's stock worth $215,518,000 after buying an additional 380,471 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Onsemi by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,404,589 shares of the semiconductor company's stock valued at $174,597,000 after buying an additional 31,889 shares during the period. 97.70% of the stock is owned by hedge funds and other institutional investors.

Onsemi Price Performance

NASDAQ ON traded down $4.37 during trading on Friday, reaching $53.94. 17,555,275 shares of the company traded hands, compared to its average volume of 10,576,752. Onsemi has a 1-year low of $53.60 and a 1-year high of $85.16. The company has a market cap of $22.97 billion, a price-to-earnings ratio of 13.38, a P/E/G ratio of 7.07 and a beta of 1.64. The stock's 50 day moving average price is $66.86 and its two-hundred day moving average price is $70.29. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.02 and a current ratio of 3.07.

Onsemi (NASDAQ:ON - Get Free Report) last issued its quarterly earnings data on Monday, October 28th. The semiconductor company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.02. The firm had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.75 billion. Onsemi had a return on equity of 22.38% and a net margin of 23.80%. The business's revenue for the quarter was down 19.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.39 EPS. As a group, analysts anticipate that Onsemi will post 4 EPS for the current year.

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.