Onsemi (NASDAQ:ON) Rating Reiterated by Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Onsemi (NASDAQ:ON) in a report issued on Tuesday morning, Benzinga reports. Needham & Company LLC currently has a $92.00 price objective on the semiconductor company’s stock.

ON has been the topic of several other research reports. The Goldman Sachs Group decreased their price objective on Onsemi from $91.00 to $81.00 and set a buy rating on the stock in a report on Tuesday, April 16th. TD Cowen dropped their price objective on Onsemi from $90.00 to $85.00 and set a buy rating for the company in a research note on Tuesday. Rosenblatt Securities decreased their target price on shares of Onsemi from $75.00 to $70.00 and set a neutral rating on the stock in a research note on Tuesday. Truist Financial dropped their price target on shares of Onsemi from $94.00 to $89.00 and set a buy rating for the company in a research report on Tuesday, February 6th. Finally, Stifel Nicolaus cut their price target on shares of Onsemi from $82.00 to $72.00 and set a hold rating on the stock in a report on Thursday, April 18th. One 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. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $90.24.

Onsemi Price Performance

Shares of ON traded up $0.36 during midday trading on Tuesday, reaching $70.37. The stock had a trading volume of 6,515,239 shares, compared to its average volume of 7,550,528. The company has a current ratio of 2.87, a quick ratio of 1.74 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $30.28 billion, a price-to-earnings ratio of 14.38, a price-to-earnings-growth ratio of 3.12 and a beta of 1.78. The company’s 50-day moving average is $72.46 and its 200 day moving average is $74.92. Onsemi has a 12-month low of $59.34 and a 12-month high of $111.35.

Onsemi (NASDAQ:ON) last issued its earnings results on Monday, April 29th. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.04. The business 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%. Onsemi’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.19 earnings per share. On average, equities analysts predict that Onsemi will post 3.86 EPS for the current fiscal year.

Institutional Trading of Onsemi

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Onsemi by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 50,341,366 shares of the semiconductor company’s stock worth $4,205,014,000 after purchasing an additional 321,682 shares in the last quarter. Capital World Investors purchased a new position in Onsemi in the 4th quarter worth about $697,276,000. Invesco Ltd. raised its position in Onsemi by 26.0% in the 3rd quarter. Invesco Ltd. now owns 5,812,863 shares of the semiconductor company’s stock worth $540,306,000 after buying an additional 1,200,723 shares during the last quarter. Norges Bank purchased a new stake in shares of Onsemi during the 4th quarter valued at about $418,102,000. Finally, Ameriprise Financial Inc. raised its holdings in shares of Onsemi by 23.7% during the third quarter. Ameriprise Financial Inc. now owns 4,272,182 shares of the semiconductor company’s stock valued at $397,108,000 after purchasing an additional 817,237 shares during the last quarter. 97.70% of the stock is owned by hedge funds and other institutional investors.

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.