Rosenblatt Securities Reaffirms Neutral Rating for Onsemi (NASDAQ:ON)

Rosenblatt Securities reissued their neutral rating on shares of Onsemi (NASDAQ:ON) in a report published on Tuesday, Benzinga reports. The firm currently has a $75.00 price target on the semiconductor company’s stock.

A number of other brokerages have also recently commented on ON. KeyCorp dropped their price target on Onsemi from $95.00 to $90.00 and set an “overweight” rating for the company in a research note on Tuesday, October 8th. BNP Paribas lowered their target price on Onsemi from $60.00 to $55.00 in a research report on Friday, October 25th. JPMorgan Chase & Co. raised their target price on Onsemi from $85.00 to $88.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Morgan Stanley raised their target price on Onsemi from $63.00 to $64.00 and gave the stock an “underweight” rating in a research report on Tuesday. Finally, Bank of America raised their target price on Onsemi from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $85.91.

Onsemi Stock Down 4.3 %

Shares of ON opened at $70.49 on Tuesday. Onsemi has a 52 week low of $59.34 and a 52 week high of $86.77. The stock has a market capitalization of $30.01 billion, a price-to-earnings ratio of 17.49, a PEG ratio of 7.89 and a beta of 1.65. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.95 and a current ratio of 3.07. The stock has a fifty day moving average of $71.43 and a 200-day moving average of $71.49.

Onsemi (NASDAQ:ON) last announced its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.02. Onsemi had a return on equity of 22.38% and a net margin of 23.80%. The company had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.75 billion. During the same period in the prior year, the company earned $1.39 EPS. Onsemi’s revenue was down 19.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Onsemi will post 4 earnings per share for the current fiscal year.

Insider Activity

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $70.80, for a total transaction of $106,200.00. Following the completion of the transaction, the chief executive officer now owns 840,620 shares in the company, valued at approximately $59,515,896. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.31% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Onsemi

Hedge funds have recently added to or reduced their stakes in the stock. Lifestyle Asset Management Inc. boosted its stake in shares of Onsemi by 6.4% in the 3rd quarter. Lifestyle Asset Management Inc. now owns 13,476 shares of the semiconductor company’s stock worth $978,000 after buying an additional 815 shares during the last quarter. Avidian Wealth Enterprises LLC purchased a new position in shares of Onsemi in the 3rd quarter worth approximately $201,000. Sentry Investment Management LLC boosted its stake in shares of Onsemi by 3.0% in the 3rd quarter. Sentry Investment Management LLC now owns 7,177 shares of the semiconductor company’s stock worth $521,000 after buying an additional 209 shares during the last quarter. Catalyst Capital Advisors LLC boosted its stake in shares of Onsemi by 235.0% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 1,387 shares of the semiconductor company’s stock worth $101,000 after buying an additional 973 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its stake in shares of Onsemi by 0.5% in the 3rd quarter. Asset Management One Co. Ltd. now owns 186,997 shares of the semiconductor company’s stock worth $13,578,000 after buying an additional 1,007 shares during the last quarter. Institutional investors and hedge funds own 97.70% of the company’s stock.

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.