Brokerages Set Onsemi (NASDAQ:ON) Price Target at $63.52

Shares of Onsemi (NASDAQ:ON) have been assigned an average recommendation of “Moderate Buy” from the twenty-three analysts that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $62.24.

A number of analysts recently issued reports on the stock. Roth Mkm lowered their price target on shares of Onsemi from $100.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Truist Financial dropped their target price on Onsemi from $60.00 to $52.00 and set a “hold” rating on the stock in a research report on Tuesday, February 11th. Stifel Nicolaus reduced their price target on Onsemi from $52.00 to $42.00 and set a “hold” rating for the company in a report on Thursday, April 17th. B. Riley lowered Onsemi from a “buy” rating to a “neutral” rating and set a $41.00 price objective on the stock. in a report on Thursday. Finally, Mizuho reduced their target price on Onsemi from $71.00 to $62.00 and set an “outperform” rating for the company in a research note on Monday, March 24th.

Onsemi Stock Performance

NASDAQ ON opened at $39.63 on Tuesday. Onsemi has a fifty-two week low of $31.04 and a fifty-two week high of $80.08. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.38 and a current ratio of 5.06. The firm has a market capitalization of $16.73 billion, a P/E ratio of 10.92, a PEG ratio of 16.74 and a beta of 1.48. The stock has a 50-day simple moving average of $41.87 and a two-hundred day simple moving average of $55.96.

Onsemi (NASDAQ:ON) last announced its quarterly earnings results on Monday, February 10th. The semiconductor company reported $0.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.03). Onsemi had a net margin of 22.21% and a return on equity of 20.10%. On average, equities analysts forecast that Onsemi will post 2.6 earnings per share for the current year.

Hedge Funds Weigh In On Onsemi

Large investors have recently made changes to their positions in the stock. Elequin Capital LP lifted its stake in Onsemi by 108.3% during the fourth quarter. Elequin Capital LP now owns 527 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 274 shares in the last quarter. Newbridge Financial Services Group Inc. purchased a new stake in shares of Onsemi in the 4th quarter valued at $41,000. Pilgrim Partners Asia Pte Ltd acquired a new position in Onsemi during the 4th quarter worth about $43,000. Golden State Wealth Management LLC lifted its stake in Onsemi by 83.3% during the 1st quarter. Golden State Wealth Management LLC now owns 704 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 320 shares in the last quarter. Finally, Synergy Asset Management LLC purchased a new position in Onsemi during the 4th quarter valued at about $51,000. 97.70% of the stock is currently owned by institutional investors and hedge funds.

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.