Rosenblatt Securities Lowers Onsemi (NASDAQ:ON) Price Target to $70.00

Onsemi (NASDAQ:ON) had its price target dropped by equities researchers at Rosenblatt Securities from $75.00 to $70.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the semiconductor company’s stock. Rosenblatt Securities’ price target points to a potential upside of 1.43% from the stock’s current price.

Other research analysts also recently issued research reports about the company. Truist Financial cut their price target on Onsemi from $94.00 to $89.00 and set a “buy” rating for the company in a research note on Tuesday, February 6th. KeyCorp increased their price target on Onsemi from $95.00 to $100.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 6th. Wells Fargo & Company cut their price target on Onsemi from $110.00 to $95.00 and set an “overweight” rating for the company in a research note on Tuesday, April 23rd. BNP Paribas reissued an “underperform” rating and set a $55.00 price objective on shares of Onsemi in a report on Friday, April 19th. Finally, JPMorgan Chase & Co. dropped their price objective 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 company. According to MarketBeat.com, Onsemi presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.24.

Onsemi Stock Down 1.6 %

Shares of NASDAQ:ON opened at $69.01 on Tuesday. The company has a market capitalization of $29.66 billion, a PE ratio of 14.21, a price-to-earnings-growth ratio of 7.03 and a beta of 1.80. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.87 and a quick ratio of 1.74. The business has a fifty day moving average price of $72.80 and a two-hundred day moving average price of $74.99. Onsemi has a 1 year low of $59.34 and a 1 year high of $111.35.

Onsemi (NASDAQ:ON) last posted its quarterly earnings results on Monday, April 29th. The semiconductor company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.04. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.85 billion. Onsemi had a return on equity of 28.86% and a net margin of 26.67%. The firm’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.19 EPS. Analysts forecast that Onsemi will post 4.23 earnings per share for the current year.

Institutional Trading of Onsemi

Hedge funds have recently bought and sold shares of the company. Provence Wealth Management Group bought a new stake in Onsemi in the 3rd quarter worth approximately $25,000. Turtle Creek Wealth Advisors LLC bought a new stake in Onsemi in the 4th quarter worth approximately $32,000. Private Wealth Management Group LLC purchased a new position in Onsemi in the 4th quarter worth approximately $33,000. MeadowBrook Investment Advisors LLC purchased a new position in Onsemi in the 4th quarter worth approximately $33,000. Finally, Hanseatic Management Services Inc. purchased a new position in Onsemi in the 3rd quarter worth approximately $38,000. Institutional investors own 97.70% of the company’s stock.

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.