Onsemi (NASDAQ:ON) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Onsemi (NASDAQ:ON) have been assigned an average rating of “Moderate Buy” from the twenty-three analysts that are covering the firm, MarketBeat Ratings reports. Ten investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $54.12.

Several research firms recently issued reports on ON. Stifel Nicolaus reduced their price target on Onsemi from $52.00 to $42.00 and set a “hold” rating for the company in a research note on Thursday, April 17th. The Goldman Sachs Group lowered their price objective on Onsemi from $77.00 to $64.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Craig Hallum reduced their target price on Onsemi from $78.00 to $50.00 and set a “hold” rating on the stock in a report on Tuesday, February 11th. Needham & Company LLC dropped their target price on shares of Onsemi from $57.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, May 6th. Finally, Citigroup reduced their price target on shares of Onsemi from $52.00 to $40.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th.

Onsemi Price Performance

NASDAQ:ON opened at $44.92 on Friday. The stock has a market capitalization of $18.77 billion, a PE ratio of 12.37, a P/E/G ratio of 16.74 and a beta of 1.39. The firm has a fifty day simple moving average of $39.76 and a 200 day simple moving average of $53.10. Onsemi has a 1-year low of $31.04 and a 1-year high of $80.08. 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 (NASDAQ:ON) last issued its earnings results on Monday, May 5th. The semiconductor company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.51 by $0.04. Onsemi had a return on equity of 20.10% and a net margin of 22.21%. The company had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the previous year, the company posted $1.08 EPS. The firm’s revenue for the quarter was down 22.4% compared to the same quarter last year. On average, research analysts expect that Onsemi will post 2.6 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Norges Bank purchased a new position in shares of Onsemi in the fourth quarter worth $378,312,000. Baillie Gifford & Co. bought a new stake in Onsemi in the 1st quarter worth $219,001,000. Pacer Advisors Inc. increased its position in shares of Onsemi by 2,735.5% in the first quarter. Pacer Advisors Inc. now owns 2,146,221 shares of the semiconductor company’s stock valued at $87,330,000 after acquiring an additional 2,070,529 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Onsemi by 26.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 5,061,245 shares of the semiconductor company’s stock valued at $203,462,000 after acquiring an additional 1,055,461 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in shares of Onsemi by 9.2% during the fourth quarter. Janus Henderson Group PLC now owns 12,377,264 shares of the semiconductor company’s stock worth $780,387,000 after purchasing an additional 1,041,989 shares during the period. 97.70% of the stock is owned by hedge funds and other institutional investors.

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.