Onsemi (NASDAQ:ON) Price Target Lowered to $52.00 at Citigroup

Onsemi (NASDAQ:ON) had its target price lowered by Citigroup from $77.00 to $52.00 in a report released on Tuesday morning,Benzinga reports. Citigroup currently has a neutral rating on the semiconductor company’s stock.

Several other research firms have also recently weighed in on ON. Susquehanna lowered their price objective on Onsemi from $80.00 to $70.00 and set a “positive” rating on the stock in a research report on Wednesday, January 22nd. B. Riley decreased their price target on Onsemi from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. Benchmark restated a “buy” rating and issued a $90.00 price target on shares of Onsemi in a research report on Tuesday, October 29th. Truist Financial restated a “hold” rating and issued a $60.00 price target (down previously from $85.00) on shares of Onsemi in a research report on Friday, January 10th. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $75.00 price target on shares of Onsemi in a research report on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $69.36.

Onsemi Stock Up 1.9 %

ON stock opened at $47.93 on Tuesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.07 and a quick ratio of 2.02. The stock has a market capitalization of $20.41 billion, a price-to-earnings ratio of 11.89, a PEG ratio of 10.27 and a beta of 1.62. The business’s fifty day moving average price is $59.62 and its two-hundred day moving average price is $67.18. Onsemi has a fifty-two week low of $46.57 and a fifty-two week high of $85.16.

Onsemi (NASDAQ:ON) last posted its quarterly earnings data on Monday, February 10th. The semiconductor company reported $0.95 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.03). Onsemi had a return on equity of 22.38% and a net margin of 23.80%. On average, equities analysts anticipate that Onsemi will post 3.99 earnings per share for the current year.

Insider Activity

In related news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $71.00, for a total value of $106,500.00. Following the transaction, the chief executive officer now directly owns 837,710 shares of the company’s stock, valued at $59,477,410. The trade was a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Onsemi

A number of hedge funds and other institutional investors have recently made changes to their positions in ON. Bridgewater Associates LP lifted its stake in shares of Onsemi by 8,367.5% in the third quarter. Bridgewater Associates LP now owns 1,123,041 shares of the semiconductor company’s stock worth $81,544,000 after acquiring an additional 1,109,778 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Onsemi by 35.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,005,784 shares of the semiconductor company’s stock worth $247,226,000 after acquiring an additional 1,037,624 shares during the period. Van ECK Associates Corp lifted its stake in shares of Onsemi by 26.4% in the third quarter. Van ECK Associates Corp now owns 3,495,056 shares of the semiconductor company’s stock worth $237,559,000 after acquiring an additional 729,081 shares during the period. Vanguard Group Inc. increased its holdings in Onsemi by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 51,135,303 shares of the semiconductor company’s stock worth $3,224,081,000 after purchasing an additional 344,354 shares in the last quarter. Finally, Andra AP fonden increased its holdings in Onsemi by 2,388.4% in the fourth quarter. Andra AP fonden now owns 343,400 shares of the semiconductor company’s stock worth $21,651,000 after purchasing an additional 329,600 shares in the last quarter. 97.70% of the stock is owned by institutional investors and hedge funds.

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.