Onsemi (NASDAQ:ON) Price Target Raised to $90.00 at Deutsche Bank Aktiengesellschaft

Onsemi (NASDAQ:ON) had its target price raised by equities researchers at Deutsche Bank Aktiengesellschaft from $85.00 to $90.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Deutsche Bank Aktiengesellschaft’s price objective would suggest a potential upside of 21.34% from the stock’s current price.

A number of other research firms have also issued reports on ON. Morgan Stanley lowered Onsemi from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $70.00 to $65.00 in a report on Thursday, July 11th. TD Cowen lifted their price target on Onsemi from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday. Jefferies Financial Group began coverage on Onsemi in a report on Monday, May 13th. They set a “buy” rating and a $100.00 price target for the company. Truist Financial lifted their price target on Onsemi from $85.00 to $97.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, B. Riley reaffirmed a “buy” rating and set a $103.00 price target (down from $115.00) on shares of Onsemi in a report on Tuesday, April 30th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $90.16.

Onsemi Trading Down 5.2 %

Shares of ON traded down $4.10 during midday trading on Tuesday, hitting $74.17. 5,626,383 shares of the stock were exchanged, compared to its average volume of 6,894,931. Onsemi has a 52-week low of $59.34 and a 52-week high of $111.35. The stock has a fifty day simple moving average of $72.63 and a 200 day simple moving average of $73.19. The firm has a market cap of $31.91 billion, a P/E ratio of 15.14, a P/E/G ratio of 3.05 and a beta of 1.69. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.87 and a current ratio of 2.87.

Onsemi (NASDAQ:ON) last released its earnings results on Monday, July 29th. The semiconductor company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. The firm had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.73 billion. Onsemi had a return on equity of 28.86% and a net margin of 26.67%. Onsemi’s revenue was down 17.2% compared to the same quarter last year. During the same period last year, the business posted $1.33 earnings per share. On average, research analysts anticipate that Onsemi will post 4.02 EPS for the current fiscal year.

Insiders Place Their Bets

In other Onsemi news, CFO Trent Thad sold 38,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $72.55, for a total value of $2,756,900.00. Following the sale, the chief financial officer now owns 331,829 shares in the company, valued at $24,074,193.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Trent Thad sold 38,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $72.55, for a total value of $2,756,900.00. Following the completion of the transaction, the chief financial officer now owns 331,829 shares of the company’s stock, valued at approximately $24,074,193.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Paul Anthony Mascarenas sold 911 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $74.46, for a total transaction of $67,833.06. Following the completion of the transaction, the director now directly owns 48,929 shares of the company’s stock, valued at approximately $3,643,253.34. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Apollon Wealth Management LLC grew its stake in shares of Onsemi by 26.4% during the fourth quarter. Apollon Wealth Management LLC now owns 7,089 shares of the semiconductor company’s stock valued at $592,000 after purchasing an additional 1,482 shares during the last quarter. International Assets Investment Management LLC grew its position in Onsemi by 7,749.6% in the fourth quarter. International Assets Investment Management LLC now owns 83,363 shares of the semiconductor company’s stock valued at $6,963,000 after purchasing an additional 82,301 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Onsemi by 8.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 456,999 shares of the semiconductor company’s stock valued at $38,188,000 after acquiring an additional 35,362 shares during the period. Harvest Fund Management Co. Ltd grew its position in shares of Onsemi by 7.1% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 9,610 shares of the semiconductor company’s stock valued at $798,000 after acquiring an additional 637 shares during the period. Finally, State of Michigan Retirement System grew its position in shares of Onsemi by 3.6% in the 4th quarter. State of Michigan Retirement System now owns 140,536 shares of the semiconductor company’s stock valued at $11,739,000 after acquiring an additional 4,900 shares during the period. Institutional investors own 97.70% of the company’s stock.

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.