Loop Capital Initiates Coverage on Onsemi (NASDAQ:ON)

Loop Capital began coverage on shares of Onsemi (NASDAQ:ON) in a report published on Monday morning, MarketBeat.com reports. The firm issued a buy rating and a $95.00 target price on the semiconductor company’s stock.

A number of other research analysts also recently issued reports on ON. StockNews.com raised Onsemi from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. TD Cowen dropped their price target on shares of Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, October 25th. JPMorgan Chase & Co. boosted their price objective on shares of Onsemi from $85.00 to $88.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Morgan Stanley raised their target price on shares of Onsemi from $63.00 to $64.00 and gave the stock an “underweight” rating in a report on Tuesday, October 29th. Finally, Robert W. Baird boosted their target price on shares of Onsemi from $70.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $86.30.

Onsemi Stock Performance

Shares of ON stock opened at $69.96 on Monday. The company has a market capitalization of $29.79 billion, a price-to-earnings ratio of 17.36, a price-to-earnings-growth ratio of 7.55 and a beta of 1.65. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.02 and a current ratio of 3.07. Onsemi has a one year low of $59.34 and a one year high of $86.77. The company’s 50-day moving average is $70.60 and its 200 day moving average is $71.95.

Onsemi (NASDAQ:ON) last posted its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.02. Onsemi had a net margin of 23.80% and a return on equity of 22.38%. The firm had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.75 billion. During the same quarter in the prior year, the company posted $1.39 earnings per share. The business’s revenue for the quarter was down 19.2% on a year-over-year basis. Sell-side analysts expect that Onsemi will post 4 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $72.71, for a total value of $109,065.00. Following the transaction, the chief executive officer now directly owns 839,210 shares of the company’s stock, valued at approximately $61,018,959.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.31% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Onsemi

Hedge funds have recently modified their holdings of the stock. Envestnet Portfolio Solutions Inc. lifted its position in shares of Onsemi by 15.5% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 22,273 shares of the semiconductor company’s stock worth $1,638,000 after buying an additional 2,995 shares in the last quarter. US Bancorp DE raised its holdings in shares of Onsemi by 83.9% during the 1st quarter. US Bancorp DE now owns 104,590 shares of the semiconductor company’s stock worth $7,693,000 after acquiring an additional 47,721 shares in the last quarter. ProShare Advisors LLC boosted its position in shares of Onsemi by 20.6% during the 1st quarter. ProShare Advisors LLC now owns 555,307 shares of the semiconductor company’s stock valued at $40,843,000 after acquiring an additional 94,730 shares during the last quarter. Bleakley Financial Group LLC grew its holdings in shares of Onsemi by 3.8% in the first quarter. Bleakley Financial Group LLC now owns 7,688 shares of the semiconductor company’s stock valued at $565,000 after purchasing an additional 282 shares in the last quarter. Finally, Entropy Technologies LP purchased a new stake in Onsemi during the first quarter valued at $555,000. Hedge funds and other institutional investors 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.