Onsemi (NASDAQ:ON) Price Target Raised to $44.00

Onsemi (NASDAQ:ON) had its price target lifted by TD Cowen from $38.00 to $44.00 in a report published on Tuesday morning, Marketbeat reports. They currently have a buy rating on the semiconductor company’s stock.

ON has been the topic of a number of other research reports. Rosenblatt Securities reiterated a “neutral” rating and set a $49.00 price target on shares of Onsemi in a research note on Thursday, February 27th. B. Riley cut shares of Onsemi from a “buy” rating to a “neutral” rating and set a $41.00 target price on the stock. in a research note on Thursday, April 24th. Susquehanna cut their price target on shares of Onsemi from $70.00 to $60.00 and set a “positive” rating for the company in a research note on Tuesday, February 11th. Roth Mkm lowered their price objective on Onsemi from $100.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Finally, Needham & Company LLC restated a “buy” rating and set a $57.00 target price on shares of Onsemi in a research report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $54.32.

Onsemi Trading Up 2.5 %

Shares of ON stock opened at $39.77 on Tuesday. The company has a current ratio of 5.06, a quick ratio of 3.38 and a debt-to-equity ratio of 0.38. Onsemi has a 1 year low of $31.04 and a 1 year high of $80.08. The firm’s fifty day simple moving average is $39.79 and its 200 day simple moving average is $54.19. The firm has a market capitalization of $16.78 billion, a P/E ratio of 10.96, a price-to-earnings-growth ratio of 16.74 and a beta of 1.39.

Onsemi (NASDAQ:ON) last released its earnings results on Monday, May 5th. The semiconductor company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.40 billion. Onsemi had a return on equity of 20.10% and a net margin of 22.21%. The firm’s revenue for the quarter was down 22.4% compared to the same quarter last year. During the same period last year, the business earned $1.08 earnings per share. As a group, sell-side analysts predict that Onsemi will post 2.6 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Golden State Wealth Management LLC lifted its stake in Onsemi by 83.3% in the first quarter. Golden State Wealth Management LLC now owns 704 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 320 shares during the period. Elequin Capital LP increased its stake in Onsemi by 108.3% in the fourth quarter. Elequin Capital LP now owns 527 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 274 shares in the last quarter. Newbridge Financial Services Group Inc. acquired a new stake in Onsemi in the fourth quarter worth $41,000. Opal Wealth Advisors LLC acquired a new position in shares of Onsemi in the 1st quarter valued at $41,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Onsemi in the 4th quarter valued at $43,000. Institutional investors and hedge funds 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.