Onsemi (NASDAQ:ON) Now Covered by Analysts at Evercore ISI

Evercore ISI initiated coverage on shares of Onsemi (NASDAQ:ON) in a report issued on Tuesday morning, Marketbeat Ratings reports. The brokerage issued an outperform rating and a $104.00 price target on the semiconductor company’s stock.

ON has been the topic of several other research reports. Mizuho reduced their price objective on shares of Onsemi from $98.00 to $92.00 and set a buy rating on the stock in a research note on Tuesday, February 6th. Stifel Nicolaus reaffirmed a hold rating and set a $82.00 price target on shares of Onsemi in a research note on Thursday, March 14th. StockNews.com raised shares of Onsemi from a sell rating to a hold rating in a research note on Wednesday, February 14th. Susquehanna reaffirmed a positive rating and set a $90.00 price target on shares of Onsemi in a research note on Monday, April 8th. Finally, Roth Mkm increased their price target on shares of Onsemi from $75.00 to $90.00 and gave the stock a buy rating in a research note on Tuesday, February 6th. Eleven research analysts have rated the stock with a hold rating and fourteen have issued 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 $98.52.

Onsemi Stock Performance

Shares of ON opened at $64.72 on Tuesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.74 and a current ratio of 2.71. The company has a market capitalization of $27.82 billion, a price-to-earnings ratio of 13.24, a PEG ratio of 6.45 and a beta of 1.80. The company’s 50 day simple moving average is $75.68 and its 200 day simple moving average is $76.84. Onsemi has a 1 year low of $61.47 and a 1 year high of $111.35.

Onsemi (NASDAQ:ON) last announced its quarterly earnings data on Monday, February 5th. The semiconductor company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.04. The business had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $2 billion. Onsemi had a net margin of 26.46% and a return on equity of 31.36%. The company’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.32 earnings per share. On average, sell-side analysts predict that Onsemi will post 4.34 EPS for the current year.

Institutional Investors Weigh In On Onsemi

Large investors have recently added to or reduced their stakes in the company. Provence Wealth Management Group acquired a new stake in Onsemi during the 3rd quarter valued at $25,000. FinTrust Capital Advisors LLC acquired a new stake in Onsemi during the 4th quarter valued at $25,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Onsemi during the 4th quarter valued at $32,000. MeadowBrook Investment Advisors LLC acquired a new stake in Onsemi during the 4th quarter valued at $33,000. Finally, Private Wealth Management Group LLC acquired a new position in Onsemi during the 4th quarter worth $33,000. 97.70% of the stock is 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.