Onsemi (NASDAQ:ON) Shares Gap Down Following Analyst Downgrade

Onsemi (NASDAQ:ON) shares gapped down prior to trading on Thursday after Stifel Nicolaus lowered their price target on the stock from $82.00 to $72.00. The stock had previously closed at $64.47, but opened at $63.01. Stifel Nicolaus currently has a hold rating on the stock. Onsemi shares last traded at $62.88, with a volume of 1,002,928 shares.

A number of other analysts also recently issued reports on ON. TD Cowen raised their target price on Onsemi from $80.00 to $90.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 6th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $75.00 target price on shares of Onsemi in a research note on Tuesday, February 6th. Mizuho cut their target price on Onsemi from $98.00 to $92.00 and set a “buy” rating for the company in a research note on Tuesday, February 6th. StockNews.com raised Onsemi from a “sell” rating to a “hold” rating in a research note on Wednesday, February 14th. Finally, Truist Financial cut their price objective on Onsemi from $94.00 to $89.00 and set a “buy” rating for the company in a research report on Tuesday, February 6th. One analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $96.52.

Hedge Funds Weigh In On Onsemi

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Provence Wealth Management Group purchased a new position in shares of Onsemi in the 3rd quarter valued at about $25,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Onsemi in the 4th quarter valued at about $32,000. Private Wealth Management Group LLC purchased a new position in shares of Onsemi in the 4th quarter valued at about $33,000. MeadowBrook Investment Advisors LLC purchased a new position in shares of Onsemi in the 4th quarter valued at about $33,000. Finally, FinTrust Capital Advisors LLC purchased a new position in shares of Onsemi in the 4th quarter valued at about $25,000. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Onsemi Stock Down 3.5 %

The firm has a 50 day moving average price of $74.67 and a 200-day moving average price of $76.43. The company has a current ratio of 2.71, a quick ratio of 1.74 and a debt-to-equity ratio of 0.33. The firm has a market cap of $26.10 billion, a PE ratio of 12.42, a PEG ratio of 6.13 and a beta of 1.80.

Onsemi (NASDAQ:ON) last posted its earnings results on Monday, February 5th. The semiconductor company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.04. The firm had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $2 billion. Onsemi had a return on equity of 31.36% and a net margin of 26.46%. The firm’s revenue was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.32 earnings per share. Research analysts forecast that Onsemi will post 4.31 EPS for the current fiscal year.

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.