Onsemi (NASDAQ:ON) Receives “Buy” Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Onsemi (NASDAQ:ONFree Report) in a report issued on Tuesday, Benzinga reports. They currently have a $92.00 price target on the semiconductor company’s stock.

ON has been the subject of several other reports. Stifel Nicolaus upped their target price on Onsemi from $72.00 to $85.00 and gave the company a hold rating in a report on Tuesday, January 2nd. Susquehanna decreased their price target on Onsemi from $110.00 to $90.00 and set a positive rating on the stock in a research note on Tuesday, October 31st. Craig Hallum lowered Onsemi from a buy rating to a hold rating and decreased their price target for the company from $132.00 to $78.00 in a research note on Monday, October 30th. Morgan Stanley decreased their price target on Onsemi from $110.00 to $76.00 and set an equal weight rating on the stock in a research note on Tuesday, October 31st. Finally, The Goldman Sachs Group decreased their price target on Onsemi from $106.00 to $93.00 and set a buy rating on the stock in a research note on Tuesday, October 31st. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Onsemi has a consensus rating of Moderate Buy and a consensus target price of $98.42.

Get Our Latest Stock Analysis on ON

Onsemi Trading Down 1.6 %

Shares of ON stock opened at $76.32 on Tuesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.71 and a quick ratio of 1.60. The company has a market cap of $32.87 billion, a price-to-earnings ratio of 15.61, a PEG ratio of 1.38 and a beta of 1.81. The stock has a 50 day simple moving average of $77.27 and a 200-day simple moving average of $84.30. Onsemi has a 1-year low of $61.47 and a 1-year high of $111.35.

Onsemi (NASDAQ:ONGet Free Report) last announced its earnings results on Monday, February 5th. The semiconductor company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.04. The business had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2 billion. Onsemi had a return on equity of 31.36% and a net margin of 26.46%. The business’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.32 EPS. On average, equities research analysts expect that Onsemi will post 4.83 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ON. Provence Wealth Management Group purchased a new position in Onsemi during the 3rd quarter worth approximately $25,000. Brown Brothers Harriman & Co. grew its stake in Onsemi by 95.5% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 348 shares of the semiconductor company’s stock worth $33,000 after buying an additional 170 shares during the last quarter. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Onsemi in the 4th quarter valued at approximately $32,000. MeadowBrook Investment Advisors LLC purchased a new position in shares of Onsemi in the 4th quarter valued at approximately $33,000. Finally, FinTrust Capital Advisors LLC purchased a new position in shares of Onsemi in the 4th quarter valued at approximately $25,000. Hedge funds and other institutional investors own 96.36% of the company’s stock.

About Onsemi

(Get Free Report)

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.

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