Onsemi (NASDAQ:ON) Now Covered by Morgan Stanley

Analysts at Morgan Stanley started coverage on shares of Onsemi (NASDAQ:ON - Get Free Report) in a research report issued on Monday. The brokerage set an "equal weight" rating and a $39.00 price target on the semiconductor company's stock. Morgan Stanley's price target would indicate a potential downside of 4.83% from the stock's previous close.

Several other research firms also recently commented on ON. Craig Hallum reduced their price objective on Onsemi from $78.00 to $50.00 and set a "hold" rating for the company in a research note on Tuesday, February 11th. Rosenblatt Securities reaffirmed a "neutral" rating and set a $42.00 target price on shares of Onsemi in a report on Tuesday, May 6th. Benchmark reduced their price target on Onsemi from $60.00 to $50.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. KeyCorp decreased their price target on Onsemi from $60.00 to $55.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Finally, Needham & Company LLC dropped their price objective on Onsemi from $57.00 to $50.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Eleven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Onsemi presently has an average rating of "Moderate Buy" and an average price target of $54.12.

Onsemi Price Performance

Onsemi stock opened at $40.98 on Monday. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.06 and a quick ratio of 3.38. The stock has a market cap of $17.12 billion, a price-to-earnings ratio of 11.29, a price-to-earnings-growth ratio of 16.74 and a beta of 1.39. The firm has a 50-day moving average of $39.72 and a two-hundred day moving average of $53.80. Onsemi has a 1 year low of $31.04 and a 1 year high of $80.08.

Onsemi (NASDAQ:ON - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The semiconductor company reported $0.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.51 by $0.04. The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.40 billion. Onsemi had a return on equity of 20.10% and a net margin of 22.21%. The business's revenue was down 22.4% compared to the same quarter last year. During the same period last year, the business posted $1.08 EPS. On average, research analysts forecast that Onsemi will post 2.6 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Norges Bank acquired a new position in Onsemi in the fourth quarter valued at about $378,312,000. Baillie Gifford & Co. bought a new stake in Onsemi during the 1st quarter worth approximately $219,001,000. Pacer Advisors Inc. lifted its holdings in Onsemi by 2,735.5% during the 1st quarter. Pacer Advisors Inc. now owns 2,146,221 shares of the semiconductor company's stock worth $87,330,000 after buying an additional 2,070,529 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Onsemi by 26.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 5,061,245 shares of the semiconductor company's stock valued at $203,462,000 after acquiring an additional 1,055,461 shares during the last quarter. Finally, Janus Henderson Group PLC raised its position in shares of Onsemi by 9.2% in the 4th quarter. Janus Henderson Group PLC now owns 12,377,264 shares of the semiconductor company's stock worth $780,387,000 after acquiring an additional 1,041,989 shares in the last quarter. 97.70% of the stock is owned by institutional investors.

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.

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