The Goldman Sachs Group Trims Onsemi (NASDAQ:ON) Target Price to $81.00

Onsemi (NASDAQ:ON) had its price objective lowered by The Goldman Sachs Group from $91.00 to $81.00 in a report released on Tuesday, Benzinga reports. The firm currently has a buy rating on the semiconductor company’s stock.

Several other equities research analysts also recently commented on ON. StockNews.com raised Onsemi from a sell rating to a hold rating in a report on Wednesday, February 14th. 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 research note on Tuesday, February 6th. KeyCorp increased their price target on shares of Onsemi from $95.00 to $100.00 and gave the company an overweight rating in a report on Tuesday, February 6th. Rosenblatt Securities restated a neutral rating and issued a $75.00 price objective on shares of Onsemi in a report on Tuesday, February 6th. Finally, Truist Financial cut their target price on Onsemi from $94.00 to $89.00 and set a buy rating on the stock in a research note on Tuesday, February 6th. Eleven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $98.12.

Onsemi Stock Down 2.4 %

NASDAQ:ON opened at $62.93 on Tuesday. Onsemi has a 1-year low of $61.47 and a 1-year high of $111.35. The company has a market capitalization of $27.05 billion, a PE ratio of 12.87, a P/E/G ratio of 6.27 and a beta of 1.80. The firm’s 50-day moving average price is $75.07 and its 200-day moving average price is $76.66. 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 data on Monday, February 5th. The semiconductor company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.04. Onsemi had a net margin of 26.46% and a return on equity of 31.36%. The business had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $2 billion. During the same quarter in the prior year, the company earned $1.32 earnings per share. The business’s revenue was down 4.1% compared to the same quarter last year. On average, equities analysts predict that Onsemi will post 4.32 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ON. Capital World Investors purchased a new stake in Onsemi in the 4th quarter worth approximately $697,276,000. Moneta Group Investment Advisors LLC increased its stake in shares of Onsemi by 122,198.2% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 6,062,322 shares of the semiconductor company’s stock worth $378,107,000 after purchasing an additional 6,057,365 shares in the last quarter. Norges Bank bought a new stake in shares of Onsemi during the 4th quarter valued at $418,102,000. Alliancebernstein L.P. lifted its stake in shares of Onsemi by 114.5% during the 4th quarter. Alliancebernstein L.P. now owns 5,139,098 shares of the semiconductor company’s stock valued at $320,526,000 after buying an additional 2,743,216 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Onsemi by 231.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,681,038 shares of the semiconductor company’s stock worth $303,024,000 after buying an additional 2,568,864 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.