Morgan Stanley Issues Pessimistic Forecast for Onsemi (NASDAQ:ON) Stock Price

Onsemi (NASDAQ:ONGet Free Report) had its target price cut by stock analysts at Morgan Stanley from $52.00 to $44.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an “underweight” rating on the semiconductor company’s stock. Morgan Stanley’s price objective would indicate a potential downside of 12.11% from the company’s previous close.

A number of other analysts have also recently issued reports on ON. Loop Capital started coverage on Onsemi in a report on Monday, November 11th. They set a “buy” rating and a $95.00 target price for the company. Robert W. Baird boosted their price objective on shares of Onsemi from $70.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Benchmark reissued a “buy” rating and issued a $90.00 target price on shares of Onsemi in a research note on Tuesday, October 29th. Needham & Company LLC reduced their target price on shares of Onsemi from $66.00 to $57.00 and set a “buy” rating on the stock in a report on Monday. Finally, UBS Group lowered their price target on Onsemi from $72.00 to $65.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.16.

View Our Latest Stock Report on ON

Onsemi Stock Performance

NASDAQ:ON opened at $50.06 on Tuesday. The company has a market cap of $21.32 billion, a P/E ratio of 12.42, a P/E/G ratio of 10.27 and a beta of 1.61. The firm’s 50 day moving average is $59.30 and its two-hundred day moving average is $67.06. Onsemi has a fifty-two week low of $46.57 and a fifty-two week high of $85.16. The company has a quick ratio of 2.02, a current ratio of 3.07 and a debt-to-equity ratio of 0.30.

Onsemi (NASDAQ:ONGet Free Report) last issued its earnings results 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%. Analysts expect that Onsemi will post 3.99 EPS for the current year.

Insider Transactions at Onsemi

In other news, CEO Hassane El-Khoury sold 1,500 shares of the business’s 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 completion of the sale, the chief executive officer now directly owns 837,710 shares in the company, valued at approximately $59,477,410. The trade was a 0.18 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Onsemi

Hedge funds have recently added to or reduced their stakes in the business. Greenleaf Trust lifted its position in shares of Onsemi by 3.4% in the 3rd quarter. Greenleaf Trust now owns 5,262 shares of the semiconductor company’s stock worth $382,000 after buying an additional 173 shares during the last quarter. Meridian Financial Partners LLC raised its stake in Onsemi by 1.7% during the third quarter. Meridian Financial Partners LLC now owns 11,305 shares of the semiconductor company’s stock worth $821,000 after acquiring an additional 192 shares during the period. Truvestments Capital LLC lifted its holdings in Onsemi by 3.8% in the fourth quarter. Truvestments Capital LLC now owns 5,661 shares of the semiconductor company’s stock worth $357,000 after acquiring an additional 207 shares during the last quarter. Sentry Investment Management LLC boosted its stake in Onsemi by 3.0% in the third quarter. Sentry Investment Management LLC now owns 7,177 shares of the semiconductor company’s stock valued at $521,000 after acquiring an additional 209 shares during the period. Finally, CX Institutional grew its holdings in shares of Onsemi by 5.2% during the third quarter. CX Institutional now owns 4,681 shares of the semiconductor company’s stock valued at $340,000 after purchasing an additional 232 shares during the last quarter. Institutional investors and hedge funds own 97.70% of the company’s stock.

Onsemi Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Onsemi (NASDAQ:ON)

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