Onsemi (NASDAQ:ON) Stock Price Expected to Rise, Roth Capital Analyst Says

Onsemi (NASDAQ:ON) had its price target raised by equities researchers at Roth Capital from $50.00 to $70.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Roth Capital’s price target would suggest a potential upside of 30.49% from the stock’s previous close.

A number of other equities analysts also recently weighed in on the company. KGI Securities assumed coverage on Onsemi in a research report on Friday, May 23rd. They set a “neutral” rating on the stock. Wells Fargo & Company increased their price target on Onsemi from $45.00 to $60.00 and gave the stock an “overweight” rating in a research report on Monday. Citigroup reduced their price target on shares of Onsemi from $52.00 to $40.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Rosenblatt Securities reissued a “neutral” rating and set a $42.00 price objective on shares of Onsemi in a report on Tuesday, May 6th. Finally, Robert W. Baird decreased their price target on shares of Onsemi from $42.00 to $34.00 and set a “neutral” rating for the company in a research report on Tuesday, May 6th. Twelve investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Onsemi currently has an average rating of “Moderate Buy” and a consensus target price of $55.12.

Onsemi Trading Down 0.4%

NASDAQ ON traded down $0.23 on Tuesday, reaching $53.65. The company had a trading volume of 3,798,756 shares, compared to its average volume of 8,158,513. The stock has a market cap of $22.42 billion, a price-to-earnings ratio of 14.79, a PEG ratio of 16.74 and a beta of 1.39. Onsemi has a 52 week low of $31.04 and a 52 week high of $80.08. The stock’s 50 day moving average is $42.29 and its 200-day moving average is $49.51. The company has a quick ratio of 3.38, a current ratio of 5.06 and a debt-to-equity ratio of 0.38.

Onsemi (NASDAQ:ON) last posted its earnings results on Monday, May 5th. The semiconductor company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. The business had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Onsemi had a return on equity of 20.10% and a net margin of 22.21%. Onsemi’s revenue for the quarter was down 22.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.08 EPS. Equities analysts predict that Onsemi will post 2.6 earnings per share for the current year.

Hedge Funds Weigh In On Onsemi

Hedge funds and other institutional investors have recently modified their holdings of the company. Costello Asset Management INC purchased a new stake in Onsemi during the first quarter valued at approximately $26,000. Golden State Wealth Management LLC lifted its position in shares of Onsemi by 83.3% in the first quarter. Golden State Wealth Management LLC now owns 704 shares of the semiconductor company’s stock worth $29,000 after buying an additional 320 shares in the last quarter. Elequin Capital LP increased its position in Onsemi by 108.3% in 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 during the last quarter. Opal Wealth Advisors LLC bought a new stake in shares of Onsemi in the 1st quarter worth about $41,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Onsemi in the 4th quarter valued at approximately $43,000. 97.70% of the stock is owned by institutional investors.

About Onsemi

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.