onsemi (NASDAQ:ON) Price Target Raised to $138.00 at Bank of America

Key Points

• Bank of America raised onsemi’s price target from $115 to $138 and kept a buy rating, implying about 8% upside from the previous close.
• onsemi’s stock jumped to $127.74 during Tuesday trading, near its 52-week high of $129.13, after the upbeat analyst call and recent momentum in the shares.
• The company also posted a solid quarterly report, with EPS of $0.64 and revenue of $1.51 billion both beating estimates, while revenue rose 4.7% year over year.

onsemi (NASDAQ:ON - Get Free Report) had its price objective upped by stock analysts at Bank of America from $115.00 to $138.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the semiconductor company's stock. Bank of America's price objective suggests a potential upside of 8.03% from the stock's previous close.

Several other equities analysts have also recently weighed in on ON. JPMorgan Chase & Co. raised their target price on shares of onsemi from $70.00 to $100.00 and gave the company a "neutral" rating in a research note on Tuesday, May 5th. Truist Financial reissued a "hold" rating and issued a $101.00 price objective (up from $66.00) on shares of onsemi in a research note on Tuesday, May 5th. Craig Hallum reissued a "hold" rating on shares of onsemi in a research note on Tuesday, February 10th. Rosenblatt Securities lifted their price objective on shares of onsemi from $60.00 to $85.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 5th. Finally, Piper Sandler lifted their price objective on shares of onsemi from $65.00 to $75.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 10th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $91.23.

onsemi Price Performance

Shares of NASDAQ ON traded up $11.54 during midday trading on Tuesday, reaching $127.74. The stock had a trading volume of 10,088,526 shares, compared to its average volume of 9,841,774. The stock has a 50-day moving average of $83.31 and a 200-day moving average of $67.05. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.14 and a current ratio of 4.87. The company has a market capitalization of $50.06 billion, a price-to-earnings ratio of 90.60, a price-to-earnings-growth ratio of 1.03 and a beta of 1.94. onsemi has a 12-month low of $41.49 and a 12-month high of $129.13.

onsemi (NASDAQ:ON - Get Free Report) last posted its earnings results on Monday, May 4th. The semiconductor company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.03. The company had revenue of $1.51 billion during the quarter, compared to analysts' expectations of $1.49 billion. onsemi had a net margin of 9.46% and a return on equity of 12.79%. onsemi's quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the company posted $0.55 earnings per share. onsemi has set its Q2 2026 guidance at 0.650-0.770 EPS. As a group, research analysts anticipate that onsemi will post 3.09 EPS for the current fiscal year.

Insider Activity at onsemi

In related news, insider Sudhir Gopalswamy sold 6,114 shares of the stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $58.67, for a total transaction of $358,708.38. Following the completion of the sale, the insider owned 173,943 shares of the company's stock, valued at $10,205,235.81. This represents a 3.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Trent Thad sold 30,000 shares of the stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $93.00, for a total transaction of $2,790,000.00. Following the sale, the chief financial officer directly owned 301,194 shares of the company's stock, valued at $28,011,042. The trade was a 9.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 66,114 shares of company stock valued at $5,548,708 in the last ninety days. Corporate insiders own 0.35% of the company's stock.

Institutional Investors Weigh In On onsemi

Hedge funds and other institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC increased its stake in shares of onsemi by 187.9% in the first quarter. AQR Capital Management LLC now owns 121,357 shares of the semiconductor company's stock worth $4,863,000 after acquiring an additional 79,206 shares during the period. Geneos Wealth Management Inc. boosted its holdings in onsemi by 61.2% during the first quarter. Geneos Wealth Management Inc. now owns 1,335 shares of the semiconductor company's stock worth $54,000 after buying an additional 507 shares in the last quarter. Brown Advisory Inc. purchased a new stake in onsemi during the second quarter worth $201,000. Cresset Asset Management LLC lifted its holdings in onsemi by 24.8% during the second quarter. Cresset Asset Management LLC now owns 10,137 shares of the semiconductor company's stock valued at $531,000 after purchasing an additional 2,016 shares in the last quarter. Finally, Cerity Partners LLC lifted its holdings in onsemi by 108.0% during the second quarter. Cerity Partners LLC now owns 31,646 shares of the semiconductor company's stock valued at $1,659,000 after purchasing an additional 16,435 shares in the last quarter. 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 beat recent quarterly EPS and revenue estimates, reinforcing confidence in demand and execution. Does Record Cash Flow, $6 Billion Buyback and GaN Push Change The Bull Case For ON (ON)?
• Positive Sentiment: Investors are also reacting to onsemi’s positioning in EVs, silicon carbide, and higher-margin power solutions, which could support longer-term growth. onsemi Trading Up 9.3%
• Neutral Sentiment: New commentary comparing onsemi with NXP in the automotive chip market says NXPI has the edge in growth drivers, but ON still has meaningful EV and silicon carbide momentum. ON vs. NXPI: Which Automotive Chip Stock Is the Better Buy Now?
• Neutral Sentiment: Mizuho recently kept an Outperform rating and raised its price target, but the note mainly reiterated already positive sentiment rather than adding a new catalyst. Mizuho Maintains an “Outperform” Rating on ON Semiconductor Corporation (ON)

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.