Onsemi (NASDAQ:ON) Stock Rating Reaffirmed by BNP Paribas

Onsemi (NASDAQ:ON)‘s stock had its “underperform” rating reiterated by equities research analysts at BNP Paribas in a research note issued on Friday, Marketbeat Ratings reports. They presently have a $55.00 target price on the semiconductor company’s stock. BNP Paribas’ price objective points to a potential downside of 12.60% from the company’s previous close.

A number of other equities analysts have also recently weighed in on ON. StockNews.com upgraded shares of Onsemi from a “sell” rating to a “hold” rating in a research report on Wednesday, February 14th. Truist Financial reduced their price objective on shares of Onsemi from $94.00 to $89.00 and set a “buy” rating for the company in a research report on Tuesday, February 6th. Stifel Nicolaus reduced their price objective on shares of Onsemi from $82.00 to $72.00 and set a “hold” rating for the company in a research report on Thursday. TD Cowen increased their target price on shares of Onsemi from $80.00 to $90.00 and gave the company an “outperform” rating in a research report on Tuesday, February 6th. Finally, Roth Mkm increased their target price on shares of Onsemi from $75.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $96.52.

Onsemi Trading Down 2.4 %

Onsemi stock opened at $62.93 on Friday. Onsemi has a 52 week low of $61.47 and a 52 week high of $111.35. The stock has a 50-day moving average price of $75.07 and a 200 day moving average price of $76.66. The company has a quick ratio of 1.74, a current ratio of 2.71 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $27.05 billion, a price-to-earnings ratio of 12.87, a price-to-earnings-growth ratio of 6.27 and a beta of 1.80.

Onsemi (NASDAQ:ON) last posted its earnings results on Monday, February 5th. The semiconductor company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.04. Onsemi had a net margin of 26.46% and a return on equity of 31.36%. The firm had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $2 billion. During the same period in the previous year, the business posted $1.32 EPS. The business’s revenue was down 4.1% compared to the same quarter last year. Sell-side analysts anticipate that Onsemi will post 4.32 EPS for the current year.

Hedge Funds Weigh In On Onsemi

A number of hedge funds have recently modified their holdings of the business. International Assets Investment Management LLC boosted its position in shares of Onsemi by 7,749.6% during the 4th quarter. International Assets Investment Management LLC now owns 83,363 shares of the semiconductor company’s stock worth $6,963,000 after purchasing an additional 82,301 shares in the last quarter. State of Michigan Retirement System boosted its position in shares of Onsemi by 3.6% during the 4th quarter. State of Michigan Retirement System now owns 140,536 shares of the semiconductor company’s stock worth $11,739,000 after purchasing an additional 4,900 shares in the last quarter. Synergy Asset Management LLC boosted its position in shares of Onsemi by 91.5% during the 4th quarter. Synergy Asset Management LLC now owns 154,649 shares of the semiconductor company’s stock worth $12,918,000 after purchasing an additional 73,909 shares in the last quarter. Handelsinvest Investeringsforvaltning purchased a new stake in shares of Onsemi during the 4th quarter worth $1,137,000. Finally, Chicago Capital LLC purchased a new stake in shares of Onsemi during the 4th quarter worth $3,860,000. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

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.