Onsemi (NASDAQ:ON) Price Target Cut to $87.00

Onsemi (NASDAQ:ON) had its target price dropped by investment analysts at Mizuho from $92.00 to $87.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Mizuho’s price objective points to a potential upside of 26.07% from the stock’s previous close.

ON has been the subject of a number of other reports. Rosenblatt Securities dropped their price objective on Onsemi from $75.00 to $70.00 and set a “neutral” rating for the company in a research note on Tuesday. TD Cowen dropped their price objective on Onsemi from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Tuesday. The Goldman Sachs Group lowered their target price on Onsemi from $91.00 to $81.00 and set a “buy” rating for the company in a research note on Tuesday, April 16th. JPMorgan Chase & Co. lowered their target price on Onsemi from $95.00 to $90.00 and set a “neutral” rating for the company in a research note on Tuesday, February 6th. Finally, Morgan Stanley lowered their target price on Onsemi from $80.00 to $70.00 and set an “equal weight” rating for the company in a research note on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $90.24.

Onsemi Price Performance

ON stock opened at $69.01 on Tuesday. Onsemi has a 52-week low of $59.34 and a 52-week high of $111.35. The company has a quick ratio of 1.74, a current ratio of 2.87 and a debt-to-equity ratio of 0.32. The business has a fifty 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 price-to-earnings ratio of 14.21, a price-to-earnings-growth 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 business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same period in the previous year, the firm posted $1.19 earnings per share. The company’s revenue was down 4.9% on a year-over-year basis. As a group, research analysts anticipate that Onsemi will post 4.23 earnings per share for the current year.

Institutional Trading of Onsemi

Several institutional investors and hedge funds have recently made changes to their positions in ON. Exchange Traded Concepts LLC lifted its holdings in shares of Onsemi by 199.8% in the 3rd quarter. Exchange Traded Concepts LLC now owns 4,062 shares of the semiconductor company’s stock valued at $378,000 after purchasing an additional 2,707 shares during the last quarter. Valeo Financial Advisors LLC raised its stake in Onsemi by 16.3% during the 3rd quarter. Valeo Financial Advisors LLC now owns 2,927 shares of the semiconductor company’s stock valued at $272,000 after acquiring an additional 410 shares during the last quarter. Commonwealth Equity Services LLC raised its stake in Onsemi by 9.5% during the 3rd quarter. Commonwealth Equity Services LLC now owns 54,676 shares of the semiconductor company’s stock valued at $5,082,000 after acquiring an additional 4,741 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in Onsemi by 7.0% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 48,903 shares of the semiconductor company’s stock valued at $4,546,000 after acquiring an additional 3,200 shares during the last quarter. Finally, Balboa Wealth Partners purchased a new stake in Onsemi during the 3rd quarter valued at approximately $212,000. 97.70% of the stock is owned by hedge funds and other institutional investors.

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.