Citigroup Has Lowered Expectations for Onsemi (NASDAQ:ON) Stock Price

Onsemi (NASDAQ:ON) had its price target decreased by investment analysts at Citigroup from $52.00 to $40.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “neutral” rating on the semiconductor company’s stock. Citigroup’s target price indicates a potential upside of 14.03% from the company’s previous close.

Several other equities research analysts also recently commented on ON. UBS Group reduced their target price on Onsemi from $72.00 to $65.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. Truist Financial dropped their target price on shares of Onsemi from $60.00 to $52.00 and set a “hold” rating on the stock in a research report on Tuesday, February 11th. B. Riley reduced their price target on shares of Onsemi from $90.00 to $73.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. Craig Hallum lowered their price objective on shares of Onsemi from $78.00 to $50.00 and set a “hold” rating on the stock in a research report on Tuesday, February 11th. Finally, KeyCorp reduced their target price on Onsemi from $60.00 to $55.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, Onsemi currently has a consensus rating of “Moderate Buy” and an average target price of $65.46.

Onsemi Stock Performance

ON stock opened at $35.08 on Friday. The company has a 50-day simple moving average of $44.79 and a 200 day simple moving average of $58.43. The company has a quick ratio of 3.38, a current ratio of 5.06 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $14.81 billion, a P/E ratio of 9.66, a PEG ratio of 16.74 and a beta of 1.48. Onsemi has a fifty-two week low of $31.04 and a fifty-two week high of $80.08.

Onsemi (NASDAQ:ON) last announced 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 net margin of 22.21% and a return on equity of 20.10%. Sell-side analysts predict that Onsemi will post 2.6 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Onsemi

A number of large investors have recently added to or reduced their stakes in the stock. Gateway Investment Advisers LLC lifted its stake in shares of Onsemi by 166.0% in the first quarter. Gateway Investment Advisers LLC now owns 100,753 shares of the semiconductor company’s stock worth $4,100,000 after buying an additional 62,877 shares during the last quarter. Curat Global LLC acquired a new position in Onsemi during the 1st quarter worth $378,000. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Onsemi by 23.5% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 5,362 shares of the semiconductor company’s stock valued at $218,000 after acquiring an additional 1,021 shares during the period. Merit Financial Group LLC acquired a new stake in shares of Onsemi in the first quarter valued at about $1,038,000. Finally, Czech National Bank increased its stake in shares of Onsemi by 4.8% in the first quarter. Czech National Bank now owns 96,793 shares of the semiconductor company’s stock worth $3,939,000 after purchasing an additional 4,471 shares during the period. 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.