onsemi’s (ON) “Hold” Rating Reiterated at TD Cowen

TD Cowen reaffirmed their hold rating on shares of onsemi (NASDAQ:ON) in a research note published on Tuesday,Benzinga reports. The brokerage currently has a $75.00 price target on the semiconductor company’s stock.

Several other research analysts have also recently commented on the stock. Craig Hallum upgraded shares of onsemi from a “hold” rating to a “buy” rating and increased their target price for the stock from $60.00 to $85.00 in a report on Tuesday. Truist Financial decreased their target price on shares of onsemi from $91.00 to $75.00 and set a “hold” rating for the company in a research report on Friday, September 18th. 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. Stonex Financial raised shares of onsemi to a “strong-buy” rating in a research report on Wednesday, October 14th. Finally, Stifel Nicolaus increased their price objective on shares of onsemi from $75.00 to $80.00 and gave the stock a “hold” rating in a research note on Monday, October 5th. One 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 stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $95.03.

onsemi Trading Down 11.6%

NASDAQ ON opened at $63.01 on Tuesday. The stock has a market capitalization 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’s 50 day moving average price is $74.45 and its two-hundred day moving average price is $82.14. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.49 and a current ratio of 3.55. onsemi has a 52 week low of $44.56 and a 52 week high of $134.92.

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

Insider Activity at onsemi

In other news, insider Sudhir Gopalswamy sold 15,578 shares of the stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $80.00, for a total value of $1,246,240.00. Following the transaction, the insider directly owned 158,177 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.35% of the stock is currently owned by corporate insiders.

Institutional Trading of onsemi

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Provenance Wealth Advisors LLC grew its holdings in shares of onsemi by 3,318.2% during the third quarter. Provenance Wealth Advisors LLC now owns 376 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 365 shares during the last quarter. Ascentis Independent Advisors acquired a new position in onsemi in the 1st quarter valued at approximately $36,000. Ninety One UK Ltd acquired a new position in onsemi in the 3rd quarter valued at approximately $36,000. Root Financial Partners LLC raised its stake in shares of onsemi by 39.4% during the first quarter. Root Financial Partners LLC now owns 701 shares of the semiconductor company’s stock valued at $43,000 after acquiring an additional 198 shares during the last quarter. Finally, Compass Financial Management LLC bought a new position in shares of onsemi during the second quarter valued at $67,000. 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: 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

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.