Onsemi (NASDAQ:ON) Rating Reiterated by B. Riley

Onsemi (NASDAQ:ON)‘s stock had its “buy” rating reiterated by stock analysts at B. Riley in a note issued to investors on Tuesday, Benzinga reports. They presently have a $103.00 price target on the semiconductor company’s stock, down from their prior price target of $115.00. B. Riley’s target price would indicate a potential upside of 45.44% from the company’s current price.

A number of other brokerages also recently issued reports on ON. Stifel Nicolaus lowered their price target on Onsemi from $82.00 to $72.00 and set a “hold” rating on the stock in a report on Thursday, April 18th. Rosenblatt Securities decreased their price objective on shares of Onsemi from $75.00 to $70.00 and set a “neutral” rating for the company in a report on Tuesday. JPMorgan Chase & Co. decreased their target price on shares of Onsemi from $95.00 to $90.00 and set a “neutral” rating for the company in a research note on Tuesday, February 6th. Needham & Company LLC reissued a “buy” rating and issued a $92.00 target price on shares of Onsemi in a report on Tuesday. Finally, BNP Paribas reissued an “underperform” rating and issued a $55.00 price objective on shares of Onsemi in a report on Friday, April 19th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $91.00.

Onsemi Stock Up 4.1 %

NASDAQ:ON opened at $70.82 on Tuesday. Onsemi has a 1-year low of $59.34 and a 1-year high of $111.35. The company has a market capitalization of $30.44 billion, a PE ratio of 14.48, a P/E/G ratio of 6.71 and a beta of 1.80. The firm’s 50-day moving average price is $73.11 and its 200-day moving average price is $75.28. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.71 and a quick ratio of 1.74.

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

Hedge Funds Weigh In On Onsemi

Several hedge funds have recently added to or reduced their stakes in ON. International Assets Investment Management LLC raised its stake in shares of Onsemi by 7,749.6% during the fourth quarter. International Assets Investment Management LLC now owns 83,363 shares of the semiconductor company’s stock valued at $6,963,000 after acquiring an additional 82,301 shares in the last quarter. Harvest Fund Management Co. Ltd increased its holdings in Onsemi by 7.1% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 9,610 shares of the semiconductor company’s stock worth $798,000 after purchasing an additional 637 shares during the period. State of Michigan Retirement System raised its position in Onsemi by 3.6% during the 4th quarter. State of Michigan Retirement System now owns 140,536 shares of the semiconductor company’s stock valued at $11,739,000 after purchasing an additional 4,900 shares in the last quarter. Synergy Asset Management LLC lifted its holdings in shares of Onsemi by 91.5% in the 4th quarter. Synergy Asset Management LLC now owns 154,649 shares of the semiconductor company’s stock worth $12,918,000 after buying an additional 73,909 shares during the period. Finally, Handelsinvest Investeringsforvaltning bought a new position in shares of Onsemi during the 4th quarter worth $1,137,000. 97.70% of the stock is currently owned by 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.