Rosenblatt Securities Reaffirms "Neutral" Rating for Onsemi (NASDAQ:ON)

Rosenblatt Securities reaffirmed their neutral rating on shares of Onsemi (NASDAQ:ON - Free Report) in a research note released on Tuesday,Benzinga reports. They currently have a $42.00 price target on the semiconductor company's stock.

A number of other analysts have also recently commented on the company. JPMorgan Chase & Co. reduced their price objective on Onsemi from $88.00 to $60.00 and set a "neutral" rating for the company in a research report on Tuesday, February 11th. The Goldman Sachs Group lowered their price objective on shares of Onsemi from $77.00 to $64.00 and set a "buy" rating on the stock in a research note on Tuesday, February 11th. Truist Financial cut their target price on shares of Onsemi from $60.00 to $52.00 and set a "hold" rating for the company in a research report on Tuesday, February 11th. KeyCorp decreased their price target on shares of Onsemi from $60.00 to $55.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Finally, Morgan Stanley reduced their price objective on Onsemi from $52.00 to $44.00 and set an "underweight" rating for the company in a research note on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $54.32.

Onsemi Stock Up 4.9 %

ON traded up $1.95 during trading on Tuesday, hitting $41.72. 1,893,253 shares of the company's stock traded hands, compared to its average volume of 7,600,948. The stock has a market capitalization of $17.43 billion, a price-to-earnings ratio of 11.49, a PEG ratio of 16.74 and a beta of 1.39. The company's 50 day simple moving average is $39.79 and its two-hundred day simple moving average is $54.19. Onsemi has a 12-month low of $31.04 and a 12-month high of $80.08. The company has a current ratio of 5.06, a quick ratio of 3.38 and a debt-to-equity ratio of 0.38.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Scotia Capital Inc. grew its position in shares of Onsemi by 2.9% during the 1st quarter. Scotia Capital Inc. now owns 53,940 shares of the semiconductor company's stock worth $2,195,000 after buying an additional 1,536 shares in the last quarter. Tredje AP fonden raised its holdings in shares of Onsemi by 319.5% in the 1st quarter. Tredje AP fonden now owns 281,855 shares of the semiconductor company's stock valued at $11,469,000 after purchasing an additional 214,670 shares in the last quarter. Bayforest Capital Ltd purchased a new stake in shares of Onsemi in the 1st quarter worth approximately $535,000. Harvest Fund Management Co. Ltd boosted its stake in shares of Onsemi by 6.2% during the first quarter. Harvest Fund Management Co. Ltd now owns 26,629 shares of the semiconductor company's stock valued at $1,084,000 after purchasing an additional 1,562 shares in the last quarter. Finally, Banque Cantonale Vaudoise purchased a new position in Onsemi during the first quarter valued at approximately $744,000. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

About Onsemi

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.