TD Cowen Boosts Onsemi (NASDAQ:ON) Price Target to $44.00

Onsemi (NASDAQ:ON - Free Report) had its price target increased by TD Cowen from $38.00 to $44.00 in a research note released on Tuesday, MarketBeat reports. They currently have a buy rating on the semiconductor company's stock.

Several other brokerages have also commented on ON. Truist Financial cut their price target on shares of Onsemi from $60.00 to $52.00 and set a "hold" rating on the stock in a research note on Tuesday, February 11th. Susquehanna reduced their target price on Onsemi from $70.00 to $60.00 and set a "positive" rating for the company in a report on Tuesday, February 11th. Craig Hallum dropped their price target on Onsemi from $78.00 to $50.00 and set a "hold" rating on the stock in a research note on Tuesday, February 11th. Mizuho reduced their price objective on Onsemi from $71.00 to $62.00 and set an "outperform" rating for the company in a research note on Monday, March 24th. Finally, Benchmark cut their target price on shares of Onsemi from $90.00 to $60.00 and set a "buy" rating on the stock in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $54.32.

Onsemi Stock Up 3.0 %

Shares of ON stock traded up $1.21 on Tuesday, reaching $40.98. 11,721,467 shares of the stock were exchanged, compared to its average volume of 7,644,493. The company has a market capitalization of $17.12 billion, a price-to-earnings ratio of 11.29, a PEG ratio of 16.74 and a beta of 1.39. The business's 50 day moving average price is $39.72 and its 200 day moving average price is $54.01. 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 has a twelve month low of $31.04 and a twelve month high of $80.08.

Onsemi (NASDAQ:ON - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The semiconductor company reported $0.55 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the prior year, the business posted $1.08 EPS. The business's revenue for the quarter was down 22.4% on a year-over-year basis. As a group, sell-side analysts expect that Onsemi will post 2.6 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Truvestments Capital LLC boosted its position in Onsemi by 3.8% in the 4th quarter. Truvestments Capital LLC now owns 5,661 shares of the semiconductor company's stock valued at $357,000 after buying an additional 207 shares during the last quarter. Assetmark Inc. boosted its holdings in Onsemi by 0.3% in the fourth quarter. Assetmark Inc. now owns 78,495 shares of the semiconductor company's stock valued at $4,949,000 after purchasing an additional 235 shares during the last quarter. V Square Quantitative Management LLC grew its stake in Onsemi by 3.9% during the 4th quarter. V Square Quantitative Management LLC now owns 6,727 shares of the semiconductor company's stock valued at $424,000 after purchasing an additional 252 shares in the last quarter. Huntington National Bank increased its holdings in Onsemi by 8.9% during the 4th quarter. Huntington National Bank now owns 3,310 shares of the semiconductor company's stock worth $209,000 after purchasing an additional 271 shares during the last quarter. Finally, Elequin Capital LP raised its position in shares of Onsemi by 108.3% in the 4th quarter. Elequin Capital LP now owns 527 shares of the semiconductor company's stock valued at $33,000 after purchasing an additional 274 shares in the last quarter. Hedge funds and other institutional investors own 97.70% of the company's stock.

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.