Needham & Company LLC Reaffirms Buy Rating for Onsemi (NASDAQ:ON)

Needham & Company LLC restated their buy rating on shares of Onsemi (NASDAQ:ON) in a report released on Tuesday morning, Benzinga reports. Needham & Company LLC currently has a $92.00 target price on the semiconductor company’s stock.

ON has been the subject of a number of other reports. Susquehanna cut their price target on Onsemi from $90.00 to $85.00 and set a positive rating for the company in a report on Tuesday. JPMorgan Chase & Co. dropped their price objective on shares of Onsemi from $95.00 to $90.00 and set a neutral rating on the stock in a report on Tuesday, February 6th. Wells Fargo & Company cut their price objective on shares of Onsemi from $110.00 to $95.00 and set an overweight rating for the company in a research report on Tuesday, April 23rd. TD Cowen decreased their target price on Onsemi from $90.00 to $85.00 and set a buy rating on the stock in a research report on Tuesday. Finally, Stifel Nicolaus cut their price target on Onsemi from $82.00 to $72.00 and set a hold rating for the company in a report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Onsemi presently has an average rating of Moderate Buy and an average price target of $90.24.

Onsemi Stock Up 0.5 %

ON stock traded up $0.36 during midday trading on Tuesday, reaching $70.37. The company had a trading volume of 6,515,239 shares, compared to its average volume of 7,550,528. Onsemi has a 1 year low of $59.34 and a 1 year high of $111.35. The company has a current ratio of 2.87, a quick ratio of 1.74 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $30.28 billion, a P/E ratio of 14.38, a PEG ratio of 3.12 and a beta of 1.78. The company has a 50 day moving average of $72.46 and a two-hundred day moving average of $74.92.

Onsemi (NASDAQ:ON) last issued its quarterly earnings data on Monday, April 29th. The semiconductor company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.04. Onsemi had a net margin of 26.67% and a return on equity of 28.86%. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same quarter last year, the firm earned $1.19 earnings per share. The company’s revenue for the quarter was down 4.9% on a year-over-year basis. On average, equities research analysts expect that Onsemi will post 3.86 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Onsemi

Large investors have recently added to or reduced their stakes in the company. Larson Financial Group LLC boosted its position in Onsemi by 3,907.5% during the 1st quarter. Larson Financial Group LLC now owns 1,603 shares of the semiconductor company’s stock worth $118,000 after acquiring an additional 1,563 shares during the last quarter. Pegasus Asset Management Inc. grew its position in Onsemi by 1.0% in the first quarter. Pegasus Asset Management Inc. now owns 44,741 shares of the semiconductor company’s stock valued at $3,291,000 after purchasing an additional 459 shares in the last quarter. Nordea Investment Management AB increased its stake in Onsemi by 5.2% in the 1st quarter. Nordea Investment Management AB now owns 283,225 shares of the semiconductor company’s stock valued at $21,120,000 after buying an additional 14,011 shares during the last quarter. Fidelis Capital Partners LLC acquired a new stake in Onsemi in the 1st quarter valued at $45,000. Finally, Iridian Asset Management LLC CT boosted its stake in shares of Onsemi by 7.0% during the 1st quarter. Iridian Asset Management LLC CT now owns 51,475 shares of the semiconductor company’s stock worth $3,786,000 after buying an additional 3,369 shares during the last quarter. Institutional investors own 97.70% of the company’s stock.

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.