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 morning, Marketbeat.com reports. The brokerage issued an outperform rating and a $104.00 target price on the semiconductor company’s stock.

Several other research firms also recently commented on ON. Susquehanna reaffirmed a positive rating and set a $90.00 price objective on shares of Onsemi in a research note on Monday, April 8th. Rosenblatt Securities reaffirmed a neutral rating and set a $75.00 price objective on shares of Onsemi in a research note on Tuesday, February 6th. Truist Financial reduced their price objective on Onsemi from $94.00 to $89.00 and set a buy rating for the company in a research note on Tuesday, February 6th. TD Cowen upped their price objective on Onsemi from $80.00 to $90.00 and gave the company an outperform rating in a research note on Tuesday, February 6th. Finally, Roth Mkm increased their target price on Onsemi from $75.00 to $90.00 and gave the stock a buy rating in a research note on Tuesday, February 6th. Eleven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, Onsemi currently has a consensus rating of Moderate Buy and a consensus target price of $98.12.

Onsemi Stock Down 2.4 %

Shares of NASDAQ ON opened at $62.93 on Tuesday. The stock has a market cap of $27.05 billion, a PE ratio of 12.87, a price-to-earnings-growth ratio of 6.27 and a beta of 1.80. The company has a quick ratio of 1.74, a current ratio of 2.71 and a debt-to-equity ratio of 0.33. Onsemi has a 52-week low of $61.47 and a 52-week high of $111.35. The business has a 50-day moving average price of $75.07 and a 200 day moving average price of $76.66.

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 analysts’ consensus estimates of $1.21 by $0.04. The firm had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $2 billion. Onsemi had a return on equity of 31.36% and a net margin of 26.46%. The business’s revenue was down 4.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.32 EPS. Equities research analysts forecast that Onsemi will post 4.32 earnings per share for the current year.

Institutional Investors Weigh In On Onsemi

Large investors have recently bought and sold shares of the stock. Provence Wealth Management Group acquired a new stake in Onsemi during the 3rd quarter valued at $25,000. FinTrust Capital Advisors LLC acquired a new stake in shares of Onsemi during the fourth quarter worth $25,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Onsemi during the fourth quarter worth $32,000. MeadowBrook Investment Advisors LLC acquired a new stake in shares of Onsemi during the fourth quarter worth $33,000. Finally, Private Wealth Management Group LLC acquired a new stake in shares of Onsemi during the fourth quarter worth $33,000. Institutional investors and hedge funds own 97.70% of the company’s stock.

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.