TD Cowen Issues Positive Forecast for Onsemi (NASDAQ:ON) Stock Price

Onsemi (NASDAQ:ON) had its price objective raised by TD Cowen from $38.00 to $44.00 in a research report sent to investors on Tuesday morning, Marketbeat.com reports. They currently have a buy rating on the semiconductor company’s stock.

Other equities research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. cut their target price on shares of Onsemi from $88.00 to $60.00 and set a “neutral” rating for the company in a research report on Tuesday, February 11th. Morgan Stanley cut their price target on Onsemi from $52.00 to $44.00 and set an “underweight” rating for the company in a research note on Tuesday, February 11th. Needham & Company LLC reissued a “buy” rating and issued a $57.00 price target on shares of Onsemi in a research note on Monday, March 3rd. Jefferies Financial Group cut their price objective on shares of Onsemi from $100.00 to $85.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. Finally, Roth Mkm decreased their target price on shares of Onsemi from $100.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $54.32.

Onsemi Trading Up 0.3 %

Shares of ON opened at $38.51 on Tuesday. The company has a current ratio of 5.06, a quick ratio of 3.38 and a debt-to-equity ratio of 0.38. Onsemi has a 1-year low of $31.04 and a 1-year high of $80.08. The stock has a market capitalization of $16.25 billion, a P/E ratio of 10.61, a P/E/G ratio of 16.74 and a beta of 1.39. The business’s 50-day moving average price is $40.06 and its 200 day moving average price is $54.48.

Onsemi (NASDAQ:ON) last issued its quarterly earnings results on Monday, May 5th. The semiconductor company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.51 by $0.04. Onsemi had a net margin of 22.21% and a return on equity of 20.10%. The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the prior year, the firm earned $1.08 EPS. The firm’s quarterly revenue was down 22.4% on a year-over-year basis. Analysts expect that Onsemi will post 2.6 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Elequin Capital LP raised its position in Onsemi by 108.3% in the 4th quarter. Elequin Capital LP now owns 527 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 274 shares during the last quarter. Newbridge Financial Services Group Inc. bought a new position in shares of Onsemi in the fourth quarter valued at about $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 grew its holdings 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 during the last quarter. Finally, Synergy Asset Management LLC bought a new position in shares of Onsemi in the fourth quarter worth 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.