onsemi (NASDAQ:ON) Raised to Strong-Buy at Wall Street Zen

onsemi (NASDAQ:ON) was upgraded by Wall Street Zen from a “buy” rating to a “strong-buy” rating in a note issued to investors on Saturday, Wall Street Zen reports.

A number of other equities analysts have also recently commented on ON. Susquehanna reduced their price objective on shares of onsemi from $150.00 to $120.00 and set a “positive” rating for the company in a research report on Wednesday, October 21st. Seaport Research Partners assumed coverage on shares of onsemi in a report on Tuesday, September 22nd. They issued a “buy” rating and a $100.00 price objective on the stock. DA Davidson set a $110.00 price objective on shares of onsemi in a research report on Tuesday, November 3rd. Citigroup cut their target price on shares of onsemi from $98.00 to $80.00 and set a “neutral” rating for the company in a research note on Wednesday, November 4th. Finally, Robert W. Baird raised their target price on shares of onsemi from $100.00 to $108.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and sixteen have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.03.

onsemi Stock Performance

ON opened at $63.31 on Friday. The company has a quick ratio of 2.61, a current ratio of 3.55 and a debt-to-equity ratio of 0.49. onsemi has a 12-month low of $44.56 and a 12-month high of $134.92. The business has a 50 day moving average of $74.22 and a 200-day moving average of $82.16. The stock has a market cap of $24.65 billion, a price-to-earnings ratio of 36.81, a PEG ratio of 0.51 and a beta of 2.11.

onsemi (NASDAQ:ON) last posted its earnings results on Monday, November 2nd. The semiconductor company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.02. onsemi had a return on equity of 15.53% and a net margin of 10.82%. The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same period in the previous year, the firm earned $0.63 EPS. The firm’s revenue was up 11.1% compared to the same quarter last year. On average, equities research analysts expect that onsemi will post 3.27 earnings per share for the current year.

Insider Buying and Selling at onsemi

In related news, insider Sudhir Gopalswamy sold 15,578 shares of onsemi stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $80.00, for a total transaction of $1,246,240.00. Following the completion of the sale, the insider directly owned 158,177 shares of the company’s stock, valued at approximately $12,654,160. This trade represents a 8.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.35% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Janus Henderson Group PLC lifted its position in shares of onsemi by 10.9% during the 1st quarter. Janus Henderson Group PLC now owns 13,700,884 shares of the semiconductor company’s stock valued at $848,392,000 after acquiring an additional 1,345,894 shares during the period. Assenagon Asset Management S.A. increased its position in shares of onsemi by 74.8% in the second quarter. Assenagon Asset Management S.A. now owns 2,807,808 shares of the semiconductor company’s stock worth $265,450,000 after purchasing an additional 1,201,534 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of onsemi in the third quarter worth $59,579,000. Van ECK Associates Corp increased its position in shares of onsemi by 16.6% in the second quarter. Van ECK Associates Corp now owns 5,143,343 shares of the semiconductor company’s stock worth $486,252,000 after purchasing an additional 731,540 shares during the period. Finally, Pictet Asset Management Holding SA increased its position in shares of onsemi by 7.4% in the third quarter. Pictet Asset Management Holding SA now owns 4,550,913 shares of the semiconductor company’s stock worth $349,788,000 after purchasing an additional 314,203 shares during the period. 97.70% of the stock is owned by institutional investors and hedge funds.

onsemi News Roundup

Here are the key news stories impacting onsemi this week:

• Positive Sentiment: onsemi’s AI data-center sales were reportedly up 175%, giving investors a fast-growing business line to watch as demand for AI infrastructure supports semiconductor suppliers. Article: Onsemi’s AI Data Center Sales Reportedly Grew 175%
• Neutral Sentiment: Analyst opinions are divided: Craig Hallum upgraded the stock and Truist maintained an optimistic outlook, while TD Cowen and Cantor Fitzgerald were more cautious. This mix may limit the impact of any one rating on the shares. Article: onsemi Rating Upgraded by Craig Hallum
• Negative Sentiment: Several firms have lowered price expectations, including Citigroup, B. Riley, Goldman Sachs and Mizuho, signaling continued concern about valuation or the near-term outlook. Article: onsemi Price Target Cut by Citigroup
• Negative Sentiment: onsemi has also been caught in a broader post-midterm selloff in AI-related semiconductor stocks, alongside Navitas and STMicroelectronics; the report cited no new company-specific news behind that sector pressure. Article: AI Chip Stocks Slide After Midterms

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. The Power Solutions Group segment offers discrete, module, and semiconductor products that perform multiple application functions, including power switching, power conversion, signal conditioning, circuit protection, signal amplification, and voltage reference functions.