Morgan Stanley Boosts Onsemi (NASDAQ:ON) Price Target to $64.00

by · The Cerbat Gem

Onsemi (NASDAQ:ON – Get Free Report) had its target price upped by investment analysts at Morgan Stanley from $63.00 to $64.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has an “underweight” rating on the semiconductor company’s stock. Morgan Stanley’s target price indicates a potential downside of 11.41% from the stock’s current price.

A number of other equities analysts have also issued reports on the company. Susquehanna increased their price target on Onsemi from $85.00 to $95.00 and gave the company a “positive” rating in a research note on Wednesday, July 17th. Roth Mkm upped their price objective on shares of Onsemi from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Benchmark raised their price objective on shares of Onsemi from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. KeyCorp decreased their target price on shares of Onsemi from $95.00 to $90.00 and set an “overweight” rating for the company in a research note on Tuesday, October 8th. Finally, Citigroup lowered Onsemi from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $85.00 to $77.00 in a report on Monday, July 15th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $85.26.

Get Our Latest Research Report on Onsemi

Onsemi Trading Up 1.4 %

NASDAQ:ON opened at $72.24 on Tuesday. Onsemi has a 1 year low of $59.34 and a 1 year high of $86.77. The business has a fifty day moving average of $71.52 and a 200-day moving average of $71.42. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.95 and a current ratio of 3.01. The stock has a market cap of $30.94 billion, a price-to-earnings ratio of 16.46, a PEG ratio of 3.82 and a beta of 1.65.

Onsemi (NASDAQ:ON – Get Free Report) last released its earnings results on Monday, July 29th. The semiconductor company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.92 by $0.04. The firm had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.73 billion. Onsemi had a net margin of 24.84% and a return on equity of 25.48%. Onsemi’s quarterly revenue was down 17.2% on a year-over-year basis. During the same quarter last year, the company earned $1.33 EPS. Equities analysts predict that Onsemi will post 4.01 earnings per share for the current year.

Insider Transactions at Onsemi

In related news, insider Simon Keeton sold 30,939 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $77.94, for a total value of $2,411,385.66. Following the sale, the insider now owns 231,092 shares of the company’s stock, valued at $18,011,310.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Onsemi news, insider Simon Keeton sold 30,939 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $77.94, for a total value of $2,411,385.66. Following the transaction, the insider now directly owns 231,092 shares in the company, valued at $18,011,310.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $72.71, for a total value of $109,065.00. Following the completion of the transaction, the chief executive officer now directly owns 839,210 shares in the company, valued at $61,018,959.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 33,939 shares of company stock valued at $2,626,651. Company insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ON. Wealth Enhancement Advisory Services LLC grew its position in shares of Onsemi by 39.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 13,299 shares of the semiconductor company’s stock worth $978,000 after buying an additional 3,735 shares during the period. Azzad Asset Management Inc. ADV bought a new stake in shares of Onsemi during the 1st quarter valued at $1,068,000. Norden Group LLC acquired a new position in shares of Onsemi in the 1st quarter valued at $774,000. Westside Investment Management Inc. boosted its position in shares of Onsemi by 5,500.0% in the 1st quarter. Westside Investment Management Inc. now owns 560 shares of the semiconductor company’s stock worth $41,000 after purchasing an additional 550 shares during the last quarter. Finally, First Trust Direct Indexing L.P. grew its stake in shares of Onsemi by 9.6% during the first quarter. First Trust Direct Indexing L.P. now owns 12,130 shares of the semiconductor company’s stock worth $892,000 after purchasing an additional 1,059 shares during the period. Institutional investors and hedge funds own 97.70% of the company’s stock.

About Onsemi

(Get Free Report)

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.

Featured Articles