Benchmark Lowers Onsemi (NASDAQ:ON) Price Target to $80.00

Onsemi (NASDAQ:ON) had its price target lowered by stock analysts at Benchmark from $88.00 to $80.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Benchmark’s target price would indicate a potential upside of 15.93% from the company’s previous close.

Other research analysts have also issued research reports about the company. The Goldman Sachs Group dropped their target price on Onsemi from $91.00 to $81.00 and set a “buy” rating on the stock in a report on Tuesday, April 16th. Susquehanna dropped their target price on Onsemi from $90.00 to $85.00 and set a “positive” rating on the stock in a report on Tuesday. Morgan Stanley dropped their target price on Onsemi from $80.00 to $70.00 and set an “equal weight” rating on the stock in a report on Monday, April 22nd. BNP Paribas reissued an “underperform” rating and issued a $55.00 target price on shares of Onsemi in a report on Friday, April 19th. Finally, JPMorgan Chase & Co. dropped their target price on Onsemi from $95.00 to $90.00 and set a “neutral” rating on the stock in a report on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $90.24.

Onsemi Price Performance

Shares of NASDAQ ON opened at $69.01 on Tuesday. The company has a current ratio of 2.87, a quick ratio of 1.74 and a debt-to-equity ratio of 0.32. Onsemi has a twelve month low of $59.34 and a twelve month high of $111.35. The stock has a 50 day moving average of $72.80 and a two-hundred day moving average of $74.99. The stock has a market cap of $29.66 billion, a P/E ratio of 14.21, a P/E/G ratio of 7.03 and a beta of 1.80.

Onsemi (NASDAQ:ON) last issued its quarterly earnings data on Monday, April 29th. The semiconductor company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.04. Onsemi had a return on equity of 28.86% and a net margin of 26.67%. The company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same quarter in the previous year, the business earned $1.19 earnings per share. The firm’s revenue for the quarter was down 4.9% on a year-over-year basis. On average, research analysts forecast that Onsemi will post 4.23 earnings per share for the current year.

Institutional Trading of Onsemi

Several large investors have recently bought and sold shares of the company. International Assets Investment Management LLC lifted its position in shares of 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 acquiring an additional 82,301 shares in the last quarter. Harvest Fund Management Co. Ltd lifted its position in shares of Onsemi by 7.1% in the fourth 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 in the last quarter. State of Michigan Retirement System lifted its position in shares of Onsemi by 3.6% in the fourth 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 in the last quarter. Synergy Asset Management LLC lifted its position in shares of Onsemi by 91.5% in the fourth quarter. Synergy Asset Management LLC now owns 154,649 shares of the semiconductor company’s stock valued at $12,918,000 after acquiring an additional 73,909 shares in the last quarter. Finally, Handelsinvest Investeringsforvaltning purchased a new stake in shares of Onsemi in the fourth quarter valued at $1,137,000. Institutional investors and hedge funds 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.