Evercore ISI Initiates Coverage on Onsemi (NASDAQ:ON)

Evercore ISI initiated coverage on shares of Onsemi (NASDAQ:ON - Free Report) in a report published on Tuesday morning, Marketbeat reports. The firm issued an outperform rating and a $104.00 price objective on the semiconductor company's stock.

ON has been the topic of several other research reports. Susquehanna reissued a positive rating and set a $90.00 target price on shares of Onsemi in a research report on Monday, April 8th. Needham & Company LLC reissued a buy rating and set a $92.00 target price on shares of Onsemi in a research report on Tuesday, February 6th. Stifel Nicolaus reissued a hold rating and set a $82.00 target price on shares of Onsemi in a research report on Thursday, March 14th. 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. Finally, StockNews.com raised shares of Onsemi from a sell rating to a hold rating in a report on Wednesday, February 14th. Eleven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $98.52.

Onsemi Stock Down 1.4 %

Shares of NASDAQ:ON traded down $0.92 during trading hours on Tuesday, hitting $64.72. The company's stock had a trading volume of 5,214,009 shares, compared to its average volume of 7,275,308. Onsemi has a 52 week low of $61.47 and a 52 week high of $111.35. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.71 and a quick ratio of 1.74. The company has a market capitalization of $27.82 billion, a price-to-earnings ratio of 13.24, a P/E/G ratio of 6.45 and a beta of 1.80. The firm's fifty day moving average price is $75.68 and its 200 day moving average price is $76.84.

Onsemi (NASDAQ:ON - Get Free Report) last posted its quarterly earnings data on Monday, February 5th. The semiconductor company reported $1.25 EPS for the quarter, topping the consensus estimate of $1.21 by $0.04. The firm had revenue of $2.02 billion during the quarter, compared to analyst estimates of $2 billion. Onsemi had a net margin of 26.46% and a return on equity of 31.36%. Onsemi's revenue was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.32 EPS. As a group, research analysts expect that Onsemi will post 4.34 EPS for the current year.

Institutional Investors Weigh In On Onsemi

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Onsemi by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 50,341,366 shares of the semiconductor company's stock worth $4,205,014,000 after buying an additional 321,682 shares during the period. Geode Capital Management LLC boosted its stake 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 during the period. Capital World Investors purchased a new position in Onsemi during the fourth quarter worth about $697,276,000. Voya Investment Management LLC boosted its stake 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 during the period. Finally, Moneta Group Investment Advisors LLC boosted its stake 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 during the period. 97.70% of the stock is currently 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.