Onsemi (NASDAQ:ON) Price Target Cut to $70.00 by Analysts at Susquehanna

Onsemi (NASDAQ:ON) had its target price reduced by Susquehanna from $80.00 to $70.00 in a report published on Wednesday morning,Benzinga reports. Susquehanna currently has a positive rating on the semiconductor company’s stock.

A number of other brokerages have also recently weighed in on ON. Robert W. Baird raised their price objective on Onsemi from $70.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Wells Fargo & Company decreased their price target on shares of Onsemi from $85.00 to $80.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $75.00 price objective on shares of Onsemi in a research note on Tuesday, October 29th. The Goldman Sachs Group decreased their target price on shares of Onsemi from $92.00 to $77.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Finally, Morgan Stanley upped their price target on shares of Onsemi from $63.00 to $64.00 and gave the company an “underweight” rating in a research report on Tuesday, October 29th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, Onsemi has a consensus rating of “Moderate Buy” and an average target price of $82.26.

Onsemi Trading Up 0.8 %

Shares of ON opened at $56.03 on Wednesday. Onsemi has a 1-year low of $53.10 and a 1-year high of $85.16. The company has a market capitalization of $23.86 billion, a P/E ratio of 13.90, a P/E/G ratio of 10.36 and a beta of 1.64. 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 firm’s 50 day simple moving average is $64.42 and its 200 day simple moving average is $69.40.

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

Insiders Place Their Bets

In related news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $71.00, for a total transaction of $106,500.00. Following the completion of the transaction, the chief executive officer now directly owns 837,710 shares of the company’s stock, valued at $59,477,410. This trade represents a 0.18 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.31% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Onsemi

A number of hedge funds have recently added to or reduced their stakes in ON. Nordea Investment Management AB grew its stake in shares of Onsemi by 25.9% in the fourth quarter. Nordea Investment Management AB now owns 402,124 shares of the semiconductor company’s stock worth $25,724,000 after acquiring an additional 82,614 shares during the period. Natixis Advisors LLC raised its stake in Onsemi by 1.4% during the 3rd quarter. Natixis Advisors LLC now owns 1,352,005 shares of the semiconductor company’s stock valued at $98,169,000 after buying an additional 18,450 shares during the last quarter. Cinctive Capital Management LP bought a new position in shares of Onsemi during the 3rd quarter valued at $1,270,000. Oak Thistle LLC purchased a new position in shares of Onsemi in the 4th quarter worth $515,000. Finally, Public Employees Retirement System of Ohio grew its holdings in shares of Onsemi by 18.7% in the third quarter. Public Employees Retirement System of Ohio now owns 194,409 shares of the semiconductor company’s stock worth $14,116,000 after acquiring an additional 30,695 shares during the period. 97.70% of the stock is currently 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.