onsemi (NASDAQ:ON) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded onsemi from “buy” to “strong buy.” Analysts overall remain mixed, with a “Moderate Buy” consensus and an average price target of $95.03.
• onsemi reported quarterly earnings of $0.90 per share, topping the $0.88 estimate, while revenue rose 11.1% year over year to $1.72 billion.
• The article highlights reported 175% growth in AI data-center sales as a potential growth driver for the semiconductor company.

onsemi (NASDAQ:ON - Get Free Report) was upgraded by Wall Street Zen from a "buy" rating to a "strong-buy" rating in a report issued on Saturday, Wall Street Zen reports.

ON has been the topic of a number of other reports. Stifel Nicolaus lifted their price objective on shares of onsemi from $75.00 to $80.00 and gave the company a "hold" rating in a research note on Monday, October 5th. Robert W. Baird lifted their target price on onsemi from $100.00 to $108.00 and gave the stock a "neutral" rating in a report on Tuesday, August 4th. Truist Financial boosted their price objective on shares of onsemi from $75.00 to $76.00 and gave the company a "hold" rating in a research note on Tuesday. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $90.00 target price on shares of onsemi in a research report on Tuesday. Finally, DA Davidson set a $110.00 target price on shares of onsemi in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and sixteen have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $95.03.

onsemi Stock Up 0.5%

ON opened at $63.31 on Friday. The company has a quick ratio of 2.49, a current ratio of 3.46 and a debt-to-equity ratio of 0.51. onsemi has a 52 week low of $44.56 and a 52 week high of $134.92. The firm has a 50-day simple moving average of $74.22 and a two-hundred day simple moving average of $82.16. The company has a market capitalization of $24.65 billion, a PE ratio of 36.81, a price-to-earnings-growth ratio of 0.58 and a beta of 2.11.

onsemi (NASDAQ:ON - Get Free Report) last released its quarterly earnings data on Monday, November 2nd. The semiconductor company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.02. onsemi had a return on equity of 15.61% and a net margin of 10.82%. The firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the previous year, the company posted $0.63 earnings per share. The firm's quarterly revenue was up 11.1% on a year-over-year basis. Analysts forecast that onsemi will post 3.27 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Sudhir Gopalswamy sold 15,578 shares of the firm's stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $80.00, for a total transaction of $1,246,240.00. Following the completion of the sale, the insider directly owned 158,177 shares of the company's stock, valued at approximately $12,654,160. This trade represents a 8.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.35% of the company's stock.

Hedge Funds Weigh In On onsemi

Hedge funds have recently bought and sold shares of the stock. Engineers Gate Manager LP lifted its stake in onsemi by 570.3% in the second quarter. Engineers Gate Manager LP now owns 304,377 shares of the semiconductor company's stock valued at $28,776,000 after purchasing an additional 258,968 shares during the last quarter. Iridian Asset Management LLC CT grew its holdings in onsemi by 20.8% in the third quarter. Iridian Asset Management LLC CT now owns 88,134 shares of the semiconductor company's stock worth $6,775,000 after purchasing an additional 15,155 shares during the last quarter. Counterpoint Mutual Funds LLC acquired a new stake in shares of onsemi during the 3rd quarter valued at about $10,637,000. Baird Financial Group Inc. acquired a new position in shares of onsemi during the 2nd quarter valued at about $680,000. Finally, First Citizens Bank & Trust Co. acquired a new stake in onsemi in the 3rd quarter valued at about $635,000. Hedge funds and other institutional investors own 97.70% of the company's stock.

More onsemi News

Here are the key news stories impacting onsemi this week:

• Positive Sentiment: onsemi’s AI data-center sales were reportedly up 175%, giving investors a fast-growing business line to watch as demand for AI infrastructure supports semiconductor suppliers. Article: Onsemi’s AI Data Center Sales Reportedly Grew 175%
• Neutral Sentiment: Analyst opinions are divided: Craig Hallum upgraded the stock and Truist maintained an optimistic outlook, while TD Cowen and Cantor Fitzgerald were more cautious. This mix may limit the impact of any one rating on the shares. Article: onsemi Rating Upgraded by Craig Hallum
• Negative Sentiment: Several firms have lowered price expectations, including Citigroup, B. Riley, Goldman Sachs and Mizuho, signaling continued concern about valuation or the near-term outlook. Article: onsemi Price Target Cut by Citigroup
• Negative Sentiment: onsemi has also been caught in a broader post-midterm selloff in AI-related semiconductor stocks, alongside Navitas and STMicroelectronics; the report cited no new company-specific news behind that sector pressure. Article: AI Chip Stocks Slide After Midterms

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. The Power Solutions Group segment offers discrete, module, and semiconductor products that perform multiple application functions, including power switching, power conversion, signal conditioning, circuit protection, signal amplification, and voltage reference functions.

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