Onsemi (NASDAQ:ON) Receives New Coverage from Analysts at Evercore ISI

Evercore ISI started coverage on shares of Onsemi (NASDAQ:ON) in a research report sent to investors on Tuesday morning, Marketbeat reports. The firm issued an outperform rating and a $104.00 target price on the semiconductor company’s stock.

Other equities research analysts have also issued research reports about the stock. Rosenblatt Securities reissued a neutral rating and issued a $75.00 price target on shares of Onsemi in a report on Tuesday, February 6th. TD Cowen upped their target price on shares of Onsemi from $80.00 to $90.00 and gave the stock an outperform rating in a report on Tuesday, February 6th. Needham & Company LLC reaffirmed a buy rating and issued a $92.00 target price on shares of Onsemi in a report on Tuesday, February 6th. KeyCorp upped their target price on shares of Onsemi from $95.00 to $100.00 and gave the stock an overweight rating in a report on Tuesday, February 6th. Finally, Susquehanna reaffirmed a positive rating and issued a $90.00 target price on shares of Onsemi in a report on Monday, April 8th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $96.52.

Onsemi Price Performance

NASDAQ:ON opened at $60.71 on Tuesday. The stock has a market cap of $26.10 billion, a P/E ratio of 12.42, a PEG ratio of 6.13 and a beta of 1.80. Onsemi has a one year low of $60.26 and a one year high of $111.35. The company has a fifty day moving average price of $74.67 and a 200 day moving average price of $76.43. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.71 and a quick ratio of 1.74.

Onsemi (NASDAQ:ON) last announced its quarterly earnings results on Monday, February 5th. The semiconductor company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.04. The firm had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2 billion. Onsemi had a net margin of 26.46% and a return on equity of 31.36%. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.32 EPS. Analysts anticipate that Onsemi will post 4.31 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ON. HighTower Advisors LLC raised its position in shares of Onsemi by 3.2% in the 1st quarter. HighTower Advisors LLC now owns 27,412 shares of the semiconductor company’s stock valued at $1,716,000 after acquiring an additional 845 shares during the period. MetLife Investment Management LLC acquired a new stake in shares of Onsemi in the 1st quarter valued at approximately $1,171,000. Yousif Capital Management LLC raised its position in shares of Onsemi by 4.2% in the 1st quarter. Yousif Capital Management LLC now owns 9,877 shares of the semiconductor company’s stock valued at $618,000 after acquiring an additional 395 shares during the period. Raymond James Trust N.A. raised its position in shares of Onsemi by 15.4% in the 1st quarter. Raymond James Trust N.A. now owns 5,938 shares of the semiconductor company’s stock valued at $372,000 after acquiring an additional 793 shares during the period. Finally, Blair William & Co. IL raised its position in shares of Onsemi by 22.0% in the 1st quarter. Blair William & Co. IL now owns 4,258 shares of the semiconductor company’s stock valued at $267,000 after acquiring an additional 768 shares during the period. 97.70% of the stock is currently owned by institutional investors and hedge funds.

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.