Onsemi (NASDAQ:ON) Receives New Coverage from Analysts at Evercore ISI

Evercore ISI began coverage on shares of Onsemi (NASDAQ:ON) in a report issued on Tuesday, Marketbeat.com reports. The brokerage issued an outperform rating and a $104.00 price objective on the semiconductor company’s stock.

Other research analysts have also recently issued research reports about the company. Rosenblatt Securities reiterated a neutral rating and issued a $75.00 target price on shares of Onsemi in a research report on Tuesday, February 6th. Needham & Company LLC reiterated a buy rating and issued a $92.00 target price on shares of Onsemi in a research report on Tuesday, February 6th. Susquehanna reiterated a positive rating and issued a $90.00 target price on shares of Onsemi in a research report on Monday, April 8th. JPMorgan Chase & Co. decreased their target price on Onsemi from $95.00 to $90.00 and set a neutral rating on the stock in a research report on Tuesday, February 6th. Finally, Mizuho reduced their price target on Onsemi from $98.00 to $92.00 and set a buy rating on the stock in a report on Tuesday, February 6th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $96.52.

Onsemi Stock Down 3.5 %

ON stock opened at $60.71 on Tuesday. The company has a market cap of $26.10 billion, a PE ratio of 12.42, a price-to-earnings-growth ratio of 6.13 and a beta of 1.80. The business has a 50-day simple moving average of $74.67 and a 200 day simple moving average of $76.43. Onsemi has a 52 week low of $60.26 and a 52 week high of $111.35. The company has a quick ratio of 1.74, a current ratio of 2.71 and a debt-to-equity ratio of 0.33.

Onsemi (NASDAQ:ON) last posted its quarterly earnings results on Monday, February 5th. The semiconductor company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.04. The business had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2 billion. Onsemi had a return on equity of 31.36% and a net margin of 26.46%. Onsemi’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.32 earnings per share. Sell-side analysts anticipate that Onsemi will post 4.31 EPS for the current fiscal year.

Hedge Funds Weigh In On Onsemi

Institutional investors have recently added to or reduced their stakes in the business. Provence Wealth Management Group acquired a new position in Onsemi in the third quarter valued at approximately $25,000. Turtle Creek Wealth Advisors LLC acquired a new position in Onsemi in the fourth quarter valued at approximately $32,000. Private Wealth Management Group LLC acquired a new position in shares of Onsemi during the fourth quarter worth approximately $33,000. MeadowBrook Investment Advisors LLC acquired a new position in shares of Onsemi during the fourth quarter worth approximately $33,000. Finally, FinTrust Capital Advisors LLC acquired a new position in shares of Onsemi during the fourth quarter worth approximately $25,000. 97.70% of the stock is owned by institutional investors and hedge funds.

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.