Needham & Company LLC Reaffirms “Buy” Rating for Onsemi (NASDAQ:ON)

Onsemi (NASDAQ:ON)‘s stock had its “buy” rating reiterated by equities researchers at Needham & Company LLC in a note issued to investors on Tuesday, Benzinga reports. They currently have a $92.00 price objective on the semiconductor company’s stock. Needham & Company LLC’s target price would suggest a potential upside of 29.91% from the stock’s current price.

A number of other equities research analysts also recently weighed in on the stock. The Goldman Sachs Group reduced their price target on shares of Onsemi from $91.00 to $81.00 and set a “buy” rating on the stock in a research note on Tuesday, April 16th. Rosenblatt Securities decreased their target price on shares of Onsemi from $75.00 to $70.00 and set a “neutral” rating on the stock in a research note on Tuesday. Truist Financial lowered their price target on shares of Onsemi from $94.00 to $89.00 and set a “buy” rating for the company in a report on Tuesday, February 6th. TD Cowen dropped their price objective on shares of Onsemi from $90.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday. Finally, BNP Paribas reiterated an “underperform” rating and issued a $55.00 price target on shares of Onsemi in a research report on Friday, April 19th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $94.48.

Onsemi Stock Up 4.1 %

NASDAQ ON opened at $70.82 on Tuesday. The company has a current ratio of 2.71, a quick ratio of 1.74 and a debt-to-equity ratio of 0.33. The company has a market cap of $30.44 billion, a price-to-earnings ratio of 14.48, a PEG ratio of 6.71 and a beta of 1.80. The company has a 50 day moving average of $73.11 and a 200-day moving average of $75.28. Onsemi has a 1-year low of $59.34 and a 1-year high of $111.35.

Onsemi (NASDAQ:ON) last posted its quarterly earnings results on Monday, April 29th. The semiconductor company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.04. Onsemi had a return on equity of 31.36% and a net margin of 26.46%. The business had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter in the previous year, the firm earned $1.19 earnings per share. Onsemi’s revenue for the quarter was down 4.9% compared to the same quarter last year. On average, equities research analysts expect that Onsemi will post 4.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Provence Wealth Management Group bought a new stake in shares of Onsemi in the third quarter valued at approximately $25,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Onsemi in the fourth quarter worth approximately $32,000. Private Wealth Management Group LLC bought a new position in shares of Onsemi during the fourth quarter valued at about $33,000. MeadowBrook Investment Advisors LLC purchased a new position in shares of Onsemi in the fourth quarter worth $33,000. Finally, Hanseatic Management Services Inc. purchased a new position in Onsemi during the 3rd quarter valued at about $38,000. 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.