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

Onsemi (NASDAQ:ON)’s share price 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 traded.

Other equities analysts have also recently issued reports about the company. KeyCorp boosted their price target on Onsemi from $95.00 to $100.00 and gave the stock an “overweight” rating in a report on Tuesday, February 6th. StockNews.com upgraded shares of Onsemi from a “sell” rating to a “hold” rating in a report on Wednesday, February 14th. TD Cowen lifted their price target on shares of Onsemi from $80.00 to $90.00 and gave the stock an “outperform” rating in a report on Tuesday, February 6th. Mizuho reduced their price objective on shares of Onsemi from $98.00 to $92.00 and set a “buy” rating on the stock in a research note on Tuesday, February 6th. Finally, Rosenblatt Securities restated a “neutral” rating and set a $75.00 target price on shares of Onsemi in a research report on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $96.52.

Institutional Investors Weigh In On Onsemi

A number of large investors have recently modified their holdings of ON. Provence Wealth Management Group purchased a new position in Onsemi in the third quarter valued at about $25,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Onsemi during the 4th quarter valued at approximately $32,000. Private Wealth Management Group LLC acquired a new stake in shares of Onsemi during the fourth quarter worth approximately $33,000. MeadowBrook Investment Advisors LLC acquired a new stake in Onsemi in the fourth quarter valued at $33,000. Finally, FinTrust Capital Advisors LLC bought a new position in Onsemi during the 4th quarter valued at $25,000. Institutional investors and hedge funds own 97.70% of the company’s stock.

Onsemi Stock Performance

The company’s fifty day simple moving average is $74.67 and its two-hundred day simple moving average is $76.43. The company has a market capitalization of $26.10 billion, a price-to-earnings ratio of 12.42, a price-to-earnings-growth ratio of 6.13 and a beta of 1.80. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.74 and a current ratio of 2.71.

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

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.