Rosenblatt Securities Raises Onsemi (NASDAQ:ON) Price Target to $75.00

Onsemi (NASDAQ:ON) had its target price increased by Rosenblatt Securities from $70.00 to $75.00 in a research report report published on Tuesday morning, Benzinga reports. The firm currently has a neutral rating on the semiconductor company’s stock.

A number of other equities analysts also recently issued reports on the company. TD Cowen increased their price target on Onsemi from $85.00 to $90.00 and gave the stock a buy rating in a research report on Tuesday. KeyCorp decreased their target price on Onsemi from $90.00 to $85.00 and set an overweight rating on the stock in a research report on Tuesday, July 9th. BNP Paribas restated an underperform rating and issued a $55.00 target price on shares of Onsemi in a research report on Friday, April 19th. B. Riley restated a buy rating and issued a $103.00 target price (down previously from $115.00) on shares of Onsemi in a research report on Tuesday, April 30th. Finally, Morgan Stanley downgraded Onsemi from an equal weight rating to an underweight rating and decreased their target price for the company from $70.00 to $65.00 in a research report on Thursday, July 11th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Hold and an average target price of $85.61.

Onsemi Stock Down 5.5 %

Shares of ON opened at $67.95 on Tuesday. Onsemi has a 52 week low of $59.34 and a 52 week high of $104.87. 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 $29.11 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 3.40 and a beta of 1.69. The stock’s 50-day moving average price is $72.60 and its 200-day moving average price is $73.18.

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 return on equity of 25.48% and a net margin of 24.84%. The firm had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the prior year, the business earned $1.33 earnings per share. The company’s revenue was down 17.2% compared to the same quarter last year. On average, sell-side analysts predict that Onsemi will post 4.01 EPS for the current year.

Insider Activity at Onsemi

In related news, Director Paul Anthony Mascarenas sold 911 shares of the company’s stock in a transaction dated 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 sale, 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 legal filing with the SEC, which can be accessed through the SEC website. In other Onsemi news, CFO Trent Thad sold 38,000 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 331,829 shares of the company’s stock, valued at approximately $24,074,193.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Paul Anthony Mascarenas sold 911 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $74.46, for a total value of $67,833.06. Following the sale, the director now directly owns 48,929 shares of the company’s stock, valued at $3,643,253.34. The disclosure for this sale can be found here. Insiders sold a total of 69,850 shares of company stock valued at $5,236,119 in the last three months. 0.31% of the stock is currently owned by company insiders.

Institutional Trading of Onsemi

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Onsemi during the 4th quarter worth approximately $32,000. Private Wealth Management Group LLC purchased a new position in shares of Onsemi during the 4th quarter worth approximately $33,000. MeadowBrook Investment Advisors LLC purchased a new position in shares of Onsemi during the 4th quarter worth approximately $33,000. Westside Investment Management Inc. raised its stake in shares of Onsemi by 5,500.0% during the 1st quarter. Westside Investment Management Inc. now owns 560 shares of the semiconductor company’s stock worth $41,000 after buying an additional 550 shares in the last quarter. Finally, Fidelis Capital Partners LLC purchased a new position in shares of Onsemi during the 1st quarter worth approximately $45,000. 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.