Onsemi (NASDAQ:ON) Given New $90.00 Price Target at Deutsche Bank Aktiengesellschaft

Onsemi (NASDAQ:ON) had its price target lifted by Deutsche Bank Aktiengesellschaft from $85.00 to $90.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a buy rating on the semiconductor company’s stock.

ON has been the topic of several other reports. Stifel Nicolaus lowered their price target on shares of Onsemi from $82.00 to $72.00 and set a hold rating on the stock in a research report on Thursday, April 18th. Truist Financial raised their target price on shares of Onsemi from $85.00 to $97.00 and gave the stock a buy rating in a research report on Tuesday. Rosenblatt Securities raised their target price on shares of Onsemi from $70.00 to $75.00 and gave the stock a neutral rating in a research report on Tuesday. Evercore ISI began coverage on shares of Onsemi in a research note on Tuesday, April 16th. They set an outperform rating and a $104.00 price target on the stock. Finally, Needham & Company LLC reaffirmed a buy rating and set a $92.00 price target on shares of Onsemi in a research note on Thursday, June 13th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Onsemi has an average rating of Hold and an average price target of $85.61.

Onsemi Trading Down 5.5 %

Shares of ON opened at $67.95 on Tuesday. The company has a current ratio of 3.01, a quick ratio of 1.87 and a debt-to-equity ratio of 0.31. The firm’s 50-day moving average is $72.60 and its two-hundred day moving average is $73.18. Onsemi has a twelve month low of $59.34 and a twelve month high of $104.87. The firm has a market capitalization of $29.11 billion, a P/E ratio of 13.87, a PEG ratio of 3.40 and a beta of 1.69.

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

Insider Buying and Selling

In related news, CFO Trent Thad sold 38,000 shares of Onsemi stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $72.55, for a total transaction of $2,756,900.00. Following the sale, 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Onsemi news, Director Paul Anthony Mascarenas sold 911 shares of the firm’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $74.46, for a total transaction 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 approximately $3,643,253.34. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Trent Thad sold 38,000 shares of the firm’s 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 transaction, the chief financial officer now directly owns 331,829 shares of the company’s stock, valued at $24,074,193.95. The disclosure for this sale can be found here. Insiders have sold 69,850 shares of company stock valued at $5,236,119 in the last quarter. Company insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Onsemi in the 4th quarter valued at about $32,000. MeadowBrook Investment Advisors LLC bought a new stake in Onsemi in the 4th quarter valued at about $33,000. Private Wealth Management Group LLC bought a new stake in Onsemi in the 4th quarter valued at about $33,000. Westside Investment Management Inc. lifted its position in Onsemi by 5,500.0% in the 1st quarter. Westside Investment Management Inc. now owns 560 shares of the semiconductor company’s stock valued at $41,000 after purchasing an additional 550 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its position in shares of Onsemi by 36.7% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock worth $43,000 after buying an additional 169 shares in the last quarter. 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.