Onsemi (NASDAQ:ON) Price Target Raised to $100.00 at Roth Mkm

Onsemi (NASDAQ:ON) had its target price raised by Roth Mkm from $90.00 to $100.00 in a report issued on Tuesday morning, Benzinga reports. The firm currently has a buy rating on the semiconductor company’s stock.

A number of other equities analysts have also weighed in on the company. Morgan Stanley lowered Onsemi from an equal weight rating to an underweight rating and lowered their price objective for the stock from $70.00 to $65.00 in a research note on Thursday, July 11th. TD Cowen upped their price objective on shares of Onsemi from $85.00 to $90.00 and gave the company a buy rating in a report on Tuesday. JPMorgan Chase & Co. boosted their target price on shares of Onsemi from $85.00 to $88.00 and gave the company a neutral rating in a report on Tuesday. Truist Financial raised their price target on shares of Onsemi from $85.00 to $97.00 and gave the stock a buy rating in a report on Tuesday. Finally, Benchmark increased their price objective on Onsemi from $80.00 to $90.00 and gave the stock a buy rating in a research report on Tuesday. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $85.61.

Onsemi Stock Performance

Shares of Onsemi stock opened at $71.90 on Tuesday. The stock’s fifty day moving average is $72.69 and its two-hundred day moving average is $73.23. The company has a quick ratio of 1.87, a current ratio of 3.01 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $30.80 billion, a PE ratio of 14.67, a price-to-earnings-growth ratio of 3.40 and a beta of 1.69. Onsemi has a 52 week low of $59.34 and a 52 week high of $107.16.

Onsemi (NASDAQ:ON) last issued its earnings results on Monday, July 29th. The semiconductor company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. Onsemi had a net margin of 24.84% and a return on equity of 25.48%. The business had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the prior year, the firm earned $1.33 EPS. The company’s revenue for the quarter was down 17.2% compared to the same quarter last year. As a group, analysts expect that Onsemi will post 4.01 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Trent Thad sold 38,000 shares of Onsemi stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $72.55, for a total transaction of $2,756,900.00. Following the completion of the transaction, the chief financial officer now owns 331,829 shares of the company’s stock, valued at approximately $24,074,193.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Paul Anthony Mascarenas sold 911 shares of the business’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $74.46, for a total value of $67,833.06. Following the completion of the transaction, the director now directly owns 48,929 shares of the company’s stock, valued at $3,643,253.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Trent Thad sold 38,000 shares of the stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $72.55, for a total value of $2,756,900.00. Following the sale, the chief financial officer now directly owns 331,829 shares in the company, valued at approximately $24,074,193.95. The disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.

Institutional Investors Weigh In On Onsemi

Several hedge funds have recently modified their holdings of ON. Capital World Investors purchased a new position in shares of Onsemi during the fourth quarter valued at approximately $697,276,000. Norges Bank acquired a new position in Onsemi in the 4th quarter valued at $418,102,000. Swedbank AB acquired a new stake in shares of Onsemi during the first quarter worth $90,274,000. Allspring Global Investments Holdings LLC grew its position in shares of Onsemi by 55.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,335,975 shares of the semiconductor company’s stock valued at $195,124,000 after purchasing an additional 828,944 shares during the period. Finally, Rafferty Asset Management LLC increased its stake in Onsemi by 35.6% in the fourth quarter. Rafferty Asset Management LLC now owns 2,989,554 shares of the semiconductor company’s stock valued at $249,717,000 after purchasing an additional 785,305 shares during the last quarter. 97.70% of the stock is owned by institutional investors and hedge funds.

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.