onsemi (NASDAQ:ON) Upgraded at Craig Hallum

Craig Hallum upgraded shares of onsemi (NASDAQ:ON) from a hold rating to a buy rating in a report released on Tuesday, MarketBeat Ratings reports. The brokerage currently has $85.00 price objective on the semiconductor company’s stock, up from their prior price objective of $60.00.

Several other research firms also recently commented on ON. Seaport Research Partners assumed coverage on onsemi in a report on Tuesday, September 22nd. They issued a “buy” rating and a $100.00 price objective for the company. B. Riley Financial lowered their target price on shares of onsemi from $127.00 to $105.00 and set a “buy” rating on the stock in a research note on Thursday, October 22nd. Stonex Financial upgraded shares of onsemi to a “strong-buy” rating in a research note on Wednesday, October 14th. Zacks Research downgraded shares of onsemi from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and issued a $62.00 price target on shares of onsemi in a research note on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and sixteen have issued a Hold rating to the company. According to MarketBeat, onsemi currently has a consensus rating of “Moderate Buy” and an average price target of $95.03.

onsemi Stock Down 11.6%

onsemi stock opened at $63.01 on Tuesday. The firm has a market cap of $24.53 billion, a price-to-earnings ratio of 36.63, a PEG ratio of 0.57 and a beta of 2.11. The stock has a fifty day simple moving average of $74.45 and a two-hundred day simple moving average of $82.14. onsemi has a 12 month low of $44.56 and a 12 month high of $134.92. The company has a current ratio of 3.55, a quick ratio of 2.49 and a debt-to-equity ratio of 0.49.

onsemi (NASDAQ:ON) last posted its quarterly earnings results on Monday, November 2nd. The semiconductor company reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.02. The firm had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.71 billion. onsemi had a return on equity of 15.53% and a net margin of 10.82%. The company’s revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.63 earnings per share. Equities analysts predict that onsemi will post 3.27 EPS for the current fiscal year.

Insider Activity at onsemi

In related news, insider Sudhir Gopalswamy sold 15,578 shares of onsemi stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $80.00, for a total value of $1,246,240.00. Following the completion of the sale, the insider owned 158,177 shares of the company’s stock, valued at $12,654,160. The trade was a 8.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.35% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Maryland State Retirement & Pension System raised its holdings in onsemi by 16.8% in the 3rd quarter. Maryland State Retirement & Pension System now owns 24,141 shares of the semiconductor company’s stock worth $1,856,000 after purchasing an additional 3,466 shares during the period. Ritholtz Wealth Management purchased a new position in onsemi during the third quarter valued at $212,000. First Command Advisory Services Inc. grew its holdings in onsemi by 157.5% during the third quarter. First Command Advisory Services Inc. now owns 1,424 shares of the semiconductor company’s stock valued at $109,000 after purchasing an additional 871 shares during the period. Machina Capital S.A.S. bought a new stake in onsemi during the third quarter valued at about $2,576,000. Finally, Illinois Municipal Retirement Fund grew its holdings in onsemi by 12.0% during the third quarter. Illinois Municipal Retirement Fund now owns 134,412 shares of the semiconductor company’s stock valued at $10,332,000 after purchasing an additional 14,423 shares during the period. 97.70% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting onsemi

Here are the key news stories impacting onsemi this week:

• Positive Sentiment: onsemi reported its fourth consecutive earnings beat, while data-center sales reportedly surged 175%. The company’s planned $600 million acquisition of Ferric is intended to strengthen its power-delivery technology for AI processors. Onsemi AI data-center sales and valuation
• Neutral Sentiment: Investors are weighing whether fast-growing AI demand can become a durable growth driver for onsemi, or whether it is insufficient to offset weakness elsewhere in the business.
• Negative Sentiment: Semiconductor peers also fell in a post-midterm retreat from AI-chip stocks, adding sector-wide pressure despite no new company-specific negative catalyst reported for onsemi. AI-chip stocks slide
• Negative Sentiment: Reports that onsemi is delaying some automakers’ inventory restocking while prioritizing AI and industrial customers raise concerns about near-term auto demand. Several analysts have also taken a more cautious view, including Mizuho and Goldman Sachs, which lowered expectations for the stock. Onsemi delays auto restocking as AI sales jump Mizuho forecast

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. 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.