Needham & Company LLC Has Lowered Expectations for Onsemi (NASDAQ:ON) Stock Price

Onsemi (NASDAQ:ON) had its price objective lowered by Needham & Company LLC from $92.00 to $87.00 in a research report report published on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the semiconductor company’s stock.

Other equities research analysts have also issued reports about the company. Mizuho set a $85.00 target price on Onsemi in a research report on Friday, October 18th. Susquehanna increased their target price on Onsemi from $85.00 to $95.00 and gave the company a “positive” rating in a research note on Wednesday, July 17th. Citigroup lowered shares of Onsemi from a “buy” rating to a “neutral” rating and reduced their target price for the company from $85.00 to $77.00 in a report on Monday, July 15th. Truist Financial boosted their price objective on Onsemi from $85.00 to $97.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Onsemi from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, Onsemi has an average rating of “Moderate Buy” and an average target price of $85.91.

Onsemi Price Performance

Shares of NASDAQ:ON opened at $70.99 on Tuesday. The company has a quick ratio of 1.95, a current ratio of 3.07 and a debt-to-equity ratio of 0.30. The stock’s 50 day moving average is $71.27 and its 200-day moving average is $71.52. Onsemi has a twelve month low of $59.34 and a twelve month high of $86.77. The firm has a market capitalization of $30.23 billion, a price-to-earnings ratio of 17.62, a PEG ratio of 7.89 and a beta of 1.65.

Onsemi (NASDAQ:ON) last issued its quarterly earnings data on Monday, October 28th. The semiconductor company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.97 by $0.02. Onsemi had a return on equity of 22.38% and a net margin of 23.80%. The firm had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.75 billion. During the same period in the prior year, the business posted $1.39 earnings per share. The company’s quarterly revenue was down 19.2% compared to the same quarter last year. Sell-side analysts forecast that Onsemi will post 4 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Hassane El-Khoury sold 1,500 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $72.71, for a total transaction of $109,065.00. Following the transaction, the chief executive officer now directly owns 839,210 shares in the company, valued at approximately $61,018,959.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.31% of the stock is owned by corporate insiders.

Institutional Trading of Onsemi

A number of hedge funds and other institutional investors have recently bought and sold shares of ON. Capital Performance Advisors LLP bought a new position in Onsemi during the 3rd quarter worth about $27,000. GHP Investment Advisors Inc. lifted its stake in shares of Onsemi by 12,850.0% during the third quarter. GHP Investment Advisors Inc. now owns 518 shares of the semiconductor company’s stock worth $38,000 after buying an additional 514 shares during the period. Westside Investment Management Inc. lifted its position in Onsemi by 5,500.0% during the 1st quarter. Westside Investment Management Inc. now owns 560 shares of the semiconductor company’s stock worth $41,000 after acquiring an additional 550 shares during the period. Fidelis Capital Partners LLC purchased a new stake in Onsemi in the first quarter valued at approximately $45,000. Finally, Massmutual Trust Co. FSB ADV boosted its holdings in shares of Onsemi by 36.7% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock valued at $43,000 after acquiring an additional 169 shares during the last quarter. Hedge funds and other 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.