Evercore ISI Begins Coverage on Onsemi (NASDAQ:ON)

Evercore ISI began coverage on shares of Onsemi (NASDAQ:ON) in a research report report published on Tuesday, Marketbeat Ratings reports. The brokerage issued an outperform rating and a $104.00 price target on the semiconductor company’s stock.

Several other research analysts have also recently issued reports on ON. Needham & Company LLC restated a buy rating and issued a $92.00 price objective on shares of Onsemi in a research note on Tuesday, February 6th. Roth Mkm raised their price objective on Onsemi from $75.00 to $90.00 and gave the stock a buy rating in a research note on Tuesday, February 6th. Stifel Nicolaus restated a hold rating and issued a $82.00 price objective on shares of Onsemi in a research note on Thursday, March 14th. StockNews.com upgraded Onsemi from a sell rating to a hold rating in a research note on Wednesday, February 14th. Finally, TD Cowen lifted their price target on Onsemi from $80.00 to $90.00 and gave the company an outperform rating in a research report on Tuesday, February 6th. Eleven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $98.12.

Onsemi Trading Down 2.4 %

Shares of NASDAQ:ON opened at $62.93 on Tuesday. The business’s 50-day moving average is $75.07 and its 200 day moving average is $76.66. Onsemi has a 1 year low of $61.47 and a 1 year high of $111.35. The firm has a market capitalization of $27.05 billion, a P/E ratio of 12.87, a P/E/G ratio of 6.27 and a beta of 1.80. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.71 and a quick ratio of 1.74.

Onsemi (NASDAQ:ON) last announced its earnings results on Monday, February 5th. The semiconductor company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.04. Onsemi had a return on equity of 31.36% and a net margin of 26.46%. The company had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2 billion. During the same period in the prior year, the company posted $1.32 EPS. The firm’s quarterly revenue was down 4.1% compared to the same quarter last year. On average, research analysts predict that Onsemi will post 4.32 earnings per share for the current fiscal year.

Institutional Trading of Onsemi

A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Onsemi by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 50,341,366 shares of the semiconductor company’s stock worth $4,205,014,000 after acquiring an additional 321,682 shares during the last quarter. Geode Capital Management LLC lifted its position in Onsemi by 1.5% during the first quarter. Geode Capital Management LLC now owns 9,271,748 shares of the semiconductor company’s stock worth $761,615,000 after buying an additional 136,908 shares in the last quarter. Capital World Investors purchased a new position in Onsemi during the fourth quarter worth approximately $697,276,000. Voya Investment Management LLC lifted its position in Onsemi by 16.2% during the fourth quarter. Voya Investment Management LLC now owns 6,229,535 shares of the semiconductor company’s stock worth $520,353,000 after buying an additional 868,203 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC lifted its position in Onsemi by 122,198.2% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 6,062,322 shares of the semiconductor company’s stock worth $378,107,000 after buying an additional 6,057,365 shares in the last quarter. 97.70% of the stock is 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.