onsemi (NASDAQ:ON) Upgraded to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of onsemi (NASDAQ:ON) from a buy rating to a strong-buy rating in a research note released on Saturday morning,Wall Street Zen reports.

Several other brokerages have also recently weighed in on ON. Wells Fargo & Company decreased their price target on shares of onsemi from $100.00 to $90.00 and set an “overweight” rating for the company in a research note on Tuesday. Craig Hallum upgraded shares of onsemi from a “hold” rating to a “buy” rating and lifted their price objective for the company from $60.00 to $85.00 in a report on Tuesday, November 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of onsemi in a research report on Wednesday. Rosenblatt Securities reduced their target price on shares of onsemi from $85.00 to $80.00 and set a “neutral” rating for the company in a report on Tuesday, November 3rd. Finally, B. Riley Financial reduced their target price on shares of onsemi from $105.00 to $97.00 and set a “buy” rating for the company in a report on Tuesday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and sixteen have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $95.03.

onsemi Stock Up 0.5%

ON stock opened at $63.31 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.55 and a quick ratio of 2.49. The stock has a market capitalization of $24.65 billion, a P/E ratio of 36.81, a P/E/G ratio of 0.51 and a beta of 2.11. onsemi has a fifty-two week low of $44.56 and a fifty-two week high of $134.92. The business has a 50-day moving average of $74.22 and a 200-day moving average of $82.16.

onsemi (NASDAQ:ON) last announced its earnings results on Monday, November 2nd. The semiconductor company reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.02. onsemi had a return on equity of 15.53% and a net margin of 10.82%. The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same quarter last year, the firm earned $0.63 EPS. onsemi’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, sell-side analysts anticipate that onsemi will post 3.27 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Sudhir Gopalswamy sold 15,578 shares of the stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $80.00, for a total transaction of $1,246,240.00. Following the completion of the transaction, the insider directly owned 158,177 shares of the company’s stock, valued at approximately $12,654,160. This represents a 8.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.35% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Engineers Gate Manager LP grew its holdings in onsemi by 570.3% during the second quarter. Engineers Gate Manager LP now owns 304,377 shares of the semiconductor company’s stock worth $28,776,000 after purchasing an additional 258,968 shares during the period. Iridian Asset Management LLC CT raised its stake in onsemi by 20.8% in the third quarter. Iridian Asset Management LLC CT now owns 88,134 shares of the semiconductor company’s stock valued at $6,775,000 after buying an additional 15,155 shares during the period. First Citizens Bank & Trust Co. bought a new stake in onsemi in the third quarter valued at approximately $635,000. Counterpoint Mutual Funds LLC bought a new stake in onsemi in the third quarter valued at approximately $10,637,000. Finally, Baird Financial Group Inc. acquired a new stake in shares of onsemi in the second quarter valued at approximately $680,000. Institutional investors and hedge funds own 97.70% of the company’s stock.

onsemi News Roundup

Here are the key news stories impacting onsemi this week:

• Positive Sentiment: onsemi’s AI data-center sales were reportedly up 175%, giving investors a fast-growing business line to watch as demand for AI infrastructure supports semiconductor suppliers. Article: Onsemi’s AI Data Center Sales Reportedly Grew 175%
• Neutral Sentiment: Analyst opinions are divided: Craig Hallum upgraded the stock and Truist maintained an optimistic outlook, while TD Cowen and Cantor Fitzgerald were more cautious. This mix may limit the impact of any one rating on the shares. Article: onsemi Rating Upgraded by Craig Hallum
• Negative Sentiment: Several firms have lowered price expectations, including Citigroup, B. Riley, Goldman Sachs and Mizuho, signaling continued concern about valuation or the near-term outlook. Article: onsemi Price Target Cut by Citigroup
• Negative Sentiment: onsemi has also been caught in a broader post-midterm selloff in AI-related semiconductor stocks, alongside Navitas and STMicroelectronics; the report cited no new company-specific news behind that sector pressure. Article: AI Chip Stocks Slide After Midterms

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.