Onsemi (NASDAQ:ON) Given Buy Rating at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Onsemi (NASDAQ:ON) in a research report released on Monday,Benzinga reports. Needham & Company LLC currently has a $57.00 price objective on the semiconductor company’s stock.

A number of other analysts also recently issued reports on ON. Roth Mkm dropped their price target on shares of Onsemi from $100.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. The Goldman Sachs Group dropped their price objective on shares of Onsemi from $77.00 to $64.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Rosenblatt Securities reissued a “neutral” rating and issued a $49.00 price objective on shares of Onsemi in a report on Thursday, February 27th. Truist Financial dropped their price objective on shares of Onsemi from $60.00 to $52.00 and set a “hold” rating on the stock in a report on Tuesday, February 11th. Finally, Citigroup dropped their price objective on shares of Onsemi from $77.00 to $52.00 and set a “neutral” rating on the stock in a report on Tuesday, February 11th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $67.12.

Onsemi Stock Performance

Shares of NASDAQ ON opened at $46.49 on Monday. The firm’s 50-day moving average price is $54.89 and its 200-day moving average price is $64.91. The company has a quick ratio of 3.38, a current ratio of 5.06 and a debt-to-equity ratio of 0.38. The company has a market cap of $19.59 billion, a PE ratio of 12.81, a PEG ratio of 16.74 and a beta of 1.59. Onsemi has a 52-week low of $43.94 and a 52-week high of $85.16.

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 analysts’ consensus estimates 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, analysts anticipate that Onsemi will post 2.6 EPS for the current year.

Institutional Investors Weigh In On Onsemi

Institutional investors and hedge funds have recently modified their holdings of the stock. Capital Performance Advisors LLP bought a new stake in Onsemi in the third quarter worth $27,000. Ashton Thomas Securities LLC bought a new stake in Onsemi in the third quarter worth $33,000. Elequin Capital LP increased its position in Onsemi by 108.3% in the fourth quarter. Elequin Capital LP now owns 527 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 274 shares during the last quarter. Newbridge Financial Services Group Inc. bought a new stake in Onsemi in the fourth quarter worth $41,000. Finally, Safe Harbor Fiduciary LLC bought a new stake in Onsemi in the third quarter worth $43,000. 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.