Onsemi (NASDAQ:ON) Receives $54.12 Consensus Target Price from Analysts

Onsemi (NASDAQ:ON - Get Free Report) has been given an average rating of "Moderate Buy" by the twenty-four ratings firms that are currently covering the firm, Marketbeat Ratings reports. Eleven research analysts have rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $54.12.

ON has been the topic of several analyst reports. Mizuho dropped their price target on shares of Onsemi from $71.00 to $62.00 and set an "outperform" rating on the stock in a research report on Monday, March 24th. Benchmark reduced their price objective on shares of Onsemi from $60.00 to $50.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Stifel Nicolaus cut their price target on Onsemi from $52.00 to $42.00 and set a "hold" rating for the company in a research note on Thursday, April 17th. KeyCorp lowered their price objective 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, Wells Fargo & Company cut their target price on Onsemi from $60.00 to $45.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th.

Onsemi Stock Up 1.4%

NASDAQ:ON traded up $0.74 on Wednesday, hitting $52.52. 2,353,012 shares of the company's stock were exchanged, compared to its average volume of 8,105,560. The firm has a 50-day moving average price of $41.12 and a 200-day moving average price of $50.19. Onsemi has a 52 week low of $31.04 and a 52 week high of $80.08. 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 company has a market cap of $21.95 billion, a P/E ratio of 14.47, a price-to-earnings-growth ratio of 16.74 and a beta of 1.39.

Onsemi (NASDAQ:ON - Get Free Report) last released its earnings results on Monday, May 5th. The semiconductor company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.04. The business had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.40 billion. Onsemi had a return on equity of 20.10% and a net margin of 22.21%. Onsemi's revenue was down 22.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.08 earnings per share. As a group, analysts expect that Onsemi will post 2.6 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ON. Costello Asset Management INC acquired a new position in Onsemi during the 1st quarter worth about $26,000. Golden State Wealth Management LLC raised its position in shares of Onsemi by 83.3% during the first quarter. Golden State Wealth Management LLC now owns 704 shares of the semiconductor company's stock worth $29,000 after acquiring an additional 320 shares during the last quarter. Elequin Capital LP lifted its stake in shares of Onsemi by 108.3% in the fourth quarter. Elequin Capital LP now owns 527 shares of the semiconductor company's stock worth $33,000 after acquiring an additional 274 shares during the period. Newbridge Financial Services Group Inc. bought a new stake in Onsemi in the fourth quarter valued at approximately $41,000. Finally, Opal Wealth Advisors LLC acquired a new stake in Onsemi during the 1st quarter valued at approximately $41,000. Institutional investors and hedge funds own 97.70% of the company's stock.

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.