Onsemi (NASDAQ:ON) Trading 7.4% Higher – What’s Next?

Onsemi (NASDAQ:ON) shares were up 7.4% during mid-day trading on Wednesday . The company traded as high as $55.15 and last traded at $55.82. Approximately 7,547,111 shares were traded during mid-day trading, a decline of 18% from the average daily volume of 9,234,256 shares. The stock had previously closed at $51.95.

Wall Street Analysts Forecast Growth

Several analysts recently commented on ON shares. Benchmark decreased their price target on Onsemi from $90.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday, February 12th. Truist Financial reduced their target price 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. Loop Capital assumed coverage on shares of Onsemi in a research report on Monday, November 11th. They set a “buy” rating and a $95.00 target price for the company. Morgan Stanley reduced their price target on shares of Onsemi from $52.00 to $44.00 and set an “underweight” rating on the stock in a research report on Tuesday, February 11th. Finally, The Goldman Sachs Group decreased 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. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, Onsemi presently has an average rating of “Moderate Buy” and an average price target of $68.16.

Onsemi Stock Up 6.9 %

The firm has a market cap of $23.40 billion, a P/E ratio of 15.29, a price-to-earnings-growth ratio of 15.56 and a beta of 1.61. The firm’s 50 day moving average is $58.11 and its two-hundred day moving average is $66.38. 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) last announced its quarterly earnings results on Monday, February 10th. The semiconductor company reported $0.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.98 by ($0.03). Onsemi had a net margin of 22.21% and a return on equity of 20.10%. As a group, research analysts anticipate that Onsemi will post 2.6 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Hassane El-Khoury sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $71.00, for a total transaction of $106,500.00. Following the completion of the transaction, the chief executive officer now directly owns 837,710 shares of the company’s stock, valued at $59,477,410. This trade represents a 0.18 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.31% of the stock is owned by company insiders.

Institutional Investors Weigh In On Onsemi

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ON. Nordea Investment Management AB boosted its holdings in shares of Onsemi by 25.9% in the 4th quarter. Nordea Investment Management AB now owns 402,124 shares of the semiconductor company’s stock valued at $25,724,000 after buying an additional 82,614 shares during the last quarter. Natixis Advisors LLC raised its position in Onsemi by 1.4% during the third quarter. Natixis Advisors LLC now owns 1,352,005 shares of the semiconductor company’s stock worth $98,169,000 after acquiring an additional 18,450 shares in the last quarter. Cinctive Capital Management LP acquired a new stake in Onsemi in the third quarter valued at $1,270,000. Blue Trust Inc. grew its position in shares of Onsemi by 16.1% in the 4th quarter. Blue Trust Inc. now owns 8,076 shares of the semiconductor company’s stock valued at $509,000 after acquiring an additional 1,119 shares during the period. Finally, Oak Thistle LLC acquired a new position in shares of Onsemi during the 4th quarter worth about $515,000. 97.70% of the stock is currently owned by institutional investors and hedge funds.

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.