Onsemi (NASDAQ:ON) Given Buy Rating at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Onsemi (NASDAQ:ON) in a research report sent to investors on Tuesday, Benzinga reports. The firm currently has a $92.00 price target on the semiconductor company’s stock.

Other analysts have also issued reports about the stock. TD Cowen lowered their price objective on shares of Onsemi from $90.00 to $85.00 and set a buy rating for the company in a report on Tuesday. KeyCorp lifted their price target on Onsemi from $95.00 to $100.00 and gave the company an overweight rating in a research report on Tuesday, February 6th. Mizuho decreased their price objective on Onsemi from $92.00 to $87.00 and set a buy rating for the company in a report on Tuesday. Rosenblatt Securities dropped their target price on shares of Onsemi from $75.00 to $70.00 and set a neutral rating on the stock in a report on Tuesday. Finally, Susquehanna decreased their price target on shares of Onsemi from $90.00 to $85.00 and set a positive rating for the company in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, Onsemi currently has an average rating of Moderate Buy and a consensus target price of $90.24.

Onsemi Trading Up 0.5 %

NASDAQ ON opened at $70.37 on Tuesday. The stock has a market cap of $30.28 billion, a P/E ratio of 14.36, a price-to-earnings-growth ratio of 3.12 and a beta of 1.78. Onsemi has a fifty-two week low of $59.34 and a fifty-two week high of $111.35. The stock has a 50 day simple moving average of $72.35 and a two-hundred day simple moving average of $74.77. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.74 and a current ratio of 2.87.

Onsemi (NASDAQ:ON) last announced its quarterly earnings results on Monday, April 29th. The semiconductor company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.85 billion. Onsemi had a return on equity of 28.86% and a net margin of 26.67%. The firm’s revenue was down 4.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.19 earnings per share. On average, analysts forecast that Onsemi will post 3.86 earnings per share for the current year.

Institutional Trading of Onsemi

A number of hedge funds have recently bought and sold shares of ON. International Assets Investment Management LLC grew its position in Onsemi by 7,749.6% during the fourth quarter. International Assets Investment Management LLC now owns 83,363 shares of the semiconductor company’s stock valued at $6,963,000 after buying an additional 82,301 shares during the period. Harvest Fund Management Co. Ltd grew its position in shares of Onsemi by 7.1% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 9,610 shares of the semiconductor company’s stock valued at $798,000 after acquiring an additional 637 shares during the period. State of Michigan Retirement System increased its stake in shares of Onsemi by 3.6% in the 4th quarter. State of Michigan Retirement System now owns 140,536 shares of the semiconductor company’s stock worth $11,739,000 after purchasing an additional 4,900 shares in the last quarter. Synergy Asset Management LLC raised its holdings in Onsemi by 91.5% in the 4th quarter. Synergy Asset Management LLC now owns 154,649 shares of the semiconductor company’s stock worth $12,918,000 after purchasing an additional 73,909 shares during the period. Finally, Handelsinvest Investeringsforvaltning purchased a new position in Onsemi during the fourth quarter valued at $1,137,000. Hedge funds and other institutional investors own 97.70% of the company’s stock.

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.