Onsemi (NASDAQ:ON) Receives “Neutral” Rating from Rosenblatt Securities

Onsemi (NASDAQ:ON)‘s stock had its “neutral” rating reissued by equities research analysts at Rosenblatt Securities in a note issued to investors on Thursday,Benzinga reports. They presently have a $49.00 price target on the semiconductor company’s stock. Rosenblatt Securities’ price objective would suggest a potential downside of 3.07% from the stock’s previous close.

ON has been the subject of several other reports. Stifel Nicolaus reduced their price target on Onsemi from $60.00 to $52.00 and set a “hold” rating for the company in a research report on Tuesday, February 11th. Needham & Company LLC reduced their price target on Onsemi from $66.00 to $57.00 and set a “buy” rating for the company in a research report on Monday, February 10th. Mizuho reduced their price target on Onsemi from $85.00 to $71.00 and set an “outperform” rating for the company in a research report on Tuesday, February 11th. Susquehanna reduced their price target on Onsemi from $70.00 to $60.00 and set a “positive” rating for the company in a research report on Tuesday, February 11th. Finally, Truist Financial reduced their price target on Onsemi from $60.00 to $52.00 and set a “hold” rating for the company in a research report on Tuesday, February 11th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, Onsemi has an average rating of “Moderate Buy” and an average target price of $67.12.

Onsemi Stock Down 1.3 %

ON stock opened at $50.55 on Thursday. 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 stock has a market capitalization of $21.30 billion, a P/E ratio of 13.93, a P/E/G ratio of 16.74 and a beta of 1.62. The business has a 50-day moving average of $56.51 and a 200-day moving average of $65.73. Onsemi has a fifty-two week low of $46.57 and a fifty-two week high of $85.16.

Onsemi (NASDAQ:ON) last posted its quarterly earnings data on Monday, February 10th. The semiconductor company reported $0.95 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.03). Onsemi had a return on equity of 20.10% and a net margin of 22.21%. On average, sell-side analysts anticipate that Onsemi will post 2.6 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Onsemi

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Onsemi by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 51,135,303 shares of the semiconductor company’s stock valued at $3,224,081,000 after acquiring an additional 344,354 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Onsemi by 9.2% during the 4th quarter. Janus Henderson Group PLC now owns 12,377,264 shares of the semiconductor company’s stock valued at $780,387,000 after acquiring an additional 1,041,989 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Onsemi by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 10,602,000 shares of the semiconductor company’s stock worth $767,646,000 after buying an additional 309,445 shares during the period. Norges Bank acquired a new position in Onsemi during the 4th quarter worth about $378,312,000. Finally, Dimensional Fund Advisors LP lifted its holdings in Onsemi by 18.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,014,671 shares of the semiconductor company’s stock worth $316,195,000 after buying an additional 771,610 shares during the period. Institutional investors and hedge funds 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.