Onsemi (ON) – Research Analysts’ Weekly Ratings Updates

A number of research firms have changed their ratings and price targets for Onsemi (NASDAQ: ON):

• 7/17/2024 – Onsemi had its price target raised by analysts at Susquehanna from $85.00 to $95.00. They now have a “positive” rating on the stock.
• 7/15/2024 – Onsemi was downgraded by analysts at Citigroup Inc. from a “buy” rating to a “neutral” rating. They now have a $77.00 price target on the stock, down previously from $85.00.
• 7/11/2024 – Onsemi was downgraded by analysts at Morgan Stanley from an “equal weight” rating to an “underweight” rating. They now have a $65.00 price target on the stock, down previously from $70.00.
• 7/9/2024 – Onsemi had its price target lowered by analysts at KeyCorp from $90.00 to $85.00. They now have an “overweight” rating on the stock.
• 6/13/2024 – Onsemi had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $92.00 price target on the stock.

Onsemi Stock Up 6.6 %

NASDAQ:ON traded up $4.80 on Monday, reaching $77.33. The stock had a trading volume of 7,747,754 shares, compared to its average volume of 6,753,287. The company has a current ratio of 2.87, a quick ratio of 1.87 and a debt-to-equity ratio of 0.32. The company has a 50-day moving average of $72.70 and a 200 day moving average of $73.33. The stock has a market cap of $33.27 billion, a P/E ratio of 15.78, a price-to-earnings-growth ratio of 3.30 and a beta of 1.69. Onsemi has a 12-month low of $59.34 and a 12-month high of $111.35.

Onsemi (NASDAQ:ON) last issued 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. Onsemi had a net margin of 26.67% and a return on equity of 28.86%. The business had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.85 billion. During the same quarter last year, the company posted $1.19 earnings per share. The company’s quarterly revenue was down 4.9% compared to the same quarter last year. On average, research analysts predict that Onsemi will post 3.83 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Trent Thad sold 38,000 shares of the stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $72.55, for a total transaction of $2,756,900.00. Following the sale, the chief financial officer now owns 331,829 shares in the company, valued at $24,074,193.95. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Onsemi news, CFO Trent Thad sold 38,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $72.55, for a total value of $2,756,900.00. Following the sale, the chief financial officer now owns 331,829 shares in the company, valued at $24,074,193.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul Anthony Mascarenas sold 911 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $74.46, for a total transaction of $67,833.06. Following the completion of the sale, the director now owns 48,929 shares in the company, valued at approximately $3,643,253.34. The disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Turtle Creek Wealth Advisors LLC bought a new stake in Onsemi during the fourth quarter worth approximately $32,000. Private Wealth Management Group LLC bought a new stake in Onsemi during the fourth quarter worth approximately $33,000. MeadowBrook Investment Advisors LLC bought a new stake in Onsemi during the fourth quarter worth approximately $33,000. Planned Solutions Inc. bought a new stake in Onsemi during the fourth quarter worth approximately $46,000. Finally, CVA Family Office LLC bought a new stake in Onsemi during the fourth quarter worth approximately $47,000. Institutional investors and hedge funds own 97.70% of the company’s stock.

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.