Needham & Company LLC Reaffirms Buy Rating for onsemi (NASDAQ:ON)

onsemi (NASDAQ:ON)‘s stock had its “buy” rating reiterated by Needham & Company LLC in a research note issued on Friday, Benzinga reports. They currently have a $116.00 price objective on the semiconductor company’s stock. Needham & Company LLC’s price objective suggests a potential upside of 36.65% from the stock’s previous close.

ON has been the topic of a number of other reports. Truist Financial decreased their target price on shares of onsemi from $91.00 to $75.00 and set a “hold” rating on the stock in a research note on Friday, September 18th. TD Cowen decreased their target price on shares of onsemi from $110.00 to $95.00 and set a “buy” rating on the stock in a research note on Monday, July 13th. Evercore reissued an “outperform” rating and issued a $137.00 target price on shares of onsemi in a research note on Friday, June 26th. Citigroup decreased their target price on shares of onsemi from $120.00 to $98.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 5th. Finally, Cantor Fitzgerald decreased their target price on shares of onsemi from $110.00 to $90.00 and set a “neutral” rating on the stock in a research note on Thursday, September 17th. Fifteen analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.36.

onsemi Price Performance

onsemi stock traded up $4.81 during midday trading on Friday, reaching $84.89. The company had a trading volume of 22,879,184 shares, compared to its average volume of 10,555,539. The company has a market capitalization of $33.05 billion, a P/E ratio of 54.42, a P/E/G ratio of 0.64 and a beta of 2.05. onsemi has a 12-month low of $44.56 and a 12-month high of $134.92. The firm’s fifty day simple moving average is $76.44 and its 200-day simple moving average is $88.44. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.46 and a quick ratio of 2.49.

onsemi (NASDAQ:ON) last issued its quarterly earnings results on Monday, August 3rd. The semiconductor company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.02. onsemi had a net margin of 10.17% and a return on equity of 14.06%. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same period last year, the company posted $0.53 EPS. onsemi’s quarterly revenue was up 9.2% compared to the same quarter last year. onsemi has set its Q3 2026 guidance at 0.810-0.930 EPS. As a group, equities analysts anticipate that onsemi will post 3.2 EPS for the current year.

Institutional Trading of onsemi

Several institutional investors have recently made changes to their positions in ON. Andra AP fonden purchased a new stake in shares of onsemi during the 2nd quarter valued at approximately $2,704,000. Sequoia Financial Advisors LLC raised its position in shares of onsemi by 1.7% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 20,170 shares of the semiconductor company’s stock valued at $1,907,000 after buying an additional 344 shares during the period. Arlington Capital Management Inc. purchased a new stake in shares of onsemi during the 2nd quarter valued at approximately $246,000. WINTON GROUP Ltd purchased a new stake in shares of onsemi during the 2nd quarter valued at approximately $293,000. Finally, Engineers Gate Manager LP raised its position in shares of onsemi by 570.3% during the 2nd quarter. Engineers Gate Manager LP now owns 304,377 shares of the semiconductor company’s stock valued at $28,776,000 after buying an additional 258,968 shares during the period. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Key Stories Impacting onsemi

Here are the key news stories impacting onsemi this week:

• Positive Sentiment: More favorable Synaptics deal terms: onsemi will acquire Synaptics for $123 per share in cash, valuing the transaction at approximately $5.7 billion versus roughly $7 billion under the original all-stock agreement. The revised structure avoids issuing new onsemi shares and is expected to be immediately accretive to non-GAAP earnings per share. ON Semiconductor’s revised Synaptics deal improves earnings outlook, says BofA
• Positive Sentiment: Analyst support strengthened: Bank of America and UBS said the amended transaction could deliver a larger earnings benefit than previously anticipated. Wells Fargo also raised its onsemi price target to $100 from $85 with an overweight rating, while Needham reaffirmed a buy rating and a $116 target. Onsemi’s Revised Synaptics Deal Expected to Be Immediately Accretive, UBS Says
• Positive Sentiment: Potential operational upside: Management cited previously disclosed synergies, additional revenue opportunities and the possibility of bringing some Synaptics production in-house after closing. Unusually high call-option activity also indicated increased bullish trading interest. ON Semiconductor Analyst’s 5 Key Takeaways from Synaptics Acquisition
• Neutral Sentiment: Key risks remain: The transaction followed an unsolicited competing proposal for Synaptics, so closing and integration remain subject to deal conditions. Although the lower purchase price improves economics, funding a $5.7 billion cash acquisition could increase financial obligations and execution risk.

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. The Power Solutions Group segment offers discrete, module, and semiconductor products that perform multiple application functions, including power switching, power conversion, signal conditioning, circuit protection, signal amplification, and voltage reference functions.