Onsemi (NASDAQ:ON) Given Buy Rating at B. Riley

Onsemi (NASDAQ:ON)‘s stock had its “buy” rating reaffirmed by equities research analysts at B. Riley in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $103.00 target price on the semiconductor company’s stock, down from their previous target price of $115.00. B. Riley’s price objective points to a potential upside of 49.25% from the stock’s previous close. B. Riley also issued estimates for Onsemi’s Q2 2024 earnings at $0.92 EPS, Q3 2024 earnings at $0.96 EPS, Q4 2024 earnings at $0.97 EPS, FY2024 earnings at $3.92 EPS, Q1 2025 earnings at $1.02 EPS, Q2 2025 earnings at $1.13 EPS, Q3 2025 earnings at $1.27 EPS and Q4 2025 earnings at $1.25 EPS.

Several other analysts have also recently commented on the stock. Morgan Stanley decreased their price target on shares of Onsemi from $80.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Monday, April 22nd. Wells Fargo & Company decreased their price target on shares of Onsemi from $110.00 to $95.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 23rd. Stifel Nicolaus decreased their target price 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. Evercore ISI started coverage on shares of Onsemi in a research report on Tuesday, April 16th. They set an “outperform” rating and a $104.00 target price on the stock. Finally, KeyCorp upped their target price on shares of Onsemi from $95.00 to $100.00 and gave the company an “overweight” rating in a research report on Tuesday, February 6th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $90.24.

Onsemi Trading Down 1.6 %

Shares of Onsemi stock opened at $69.01 on Tuesday. The company has a market capitalization of $29.66 billion, a P/E ratio of 14.21, a P/E/G ratio of 7.03 and a beta of 1.80. Onsemi has a fifty-two week low of $59.34 and a fifty-two week high of $111.35. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.74 and a current ratio of 2.87. The company has a fifty day moving average of $72.80 and a 200 day moving average of $74.99.

Onsemi (NASDAQ:ON) last announced its quarterly earnings results on Monday, April 29th. The semiconductor company reported $1.08 EPS for the quarter, topping the consensus estimate of $1.04 by $0.04. The business had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.85 billion. Onsemi had a net margin of 26.67% and a return on equity of 28.86%. The business’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.19 EPS. On average, sell-side analysts anticipate that Onsemi will post 4.23 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Onsemi

A number of hedge funds have recently added to or reduced their stakes in ON. Exchange Traded Concepts LLC grew its stake in Onsemi by 199.8% in the 3rd quarter. Exchange Traded Concepts LLC now owns 4,062 shares of the semiconductor company’s stock worth $378,000 after acquiring an additional 2,707 shares in the last quarter. Valeo Financial Advisors LLC boosted its stake in shares of Onsemi by 16.3% during the third quarter. Valeo Financial Advisors LLC now owns 2,927 shares of the semiconductor company’s stock valued at $272,000 after purchasing an additional 410 shares in the last quarter. Commonwealth Equity Services LLC boosted its stake in shares of Onsemi by 9.5% during the third quarter. Commonwealth Equity Services LLC now owns 54,676 shares of the semiconductor company’s stock valued at $5,082,000 after purchasing an additional 4,741 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in shares of Onsemi by 7.0% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 48,903 shares of the semiconductor company’s stock valued at $4,546,000 after purchasing an additional 3,200 shares in the last quarter. Finally, Balboa Wealth Partners bought a new position in shares of Onsemi during the third quarter valued at approximately $212,000. 97.70% of the stock is currently owned by 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.