KeyCorp Cuts Onsemi (NASDAQ:ON) Price Target to $90.00

Onsemi (NASDAQ:ON) had its target price cut by analysts at KeyCorp from $100.00 to $90.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the semiconductor company’s stock. KeyCorp’s price objective would indicate a potential upside of 30.42% from the stock’s previous close.

Other equities analysts also recently issued research reports about the company. Susquehanna lowered their price target on Onsemi from $90.00 to $85.00 and set a “positive” rating on the stock in a report on Tuesday. The Goldman Sachs Group lowered their price target on Onsemi from $91.00 to $81.00 and set a “buy” rating on the stock in a report on Tuesday, April 16th. B. Riley reiterated a “buy” rating and set a $103.00 price target (down previously from $115.00) on shares of Onsemi in a report on Tuesday. Morgan Stanley reduced their price objective on Onsemi from $80.00 to $70.00 and set an “equal weight” rating for the company in a research report on Monday, April 22nd. Finally, BNP Paribas reissued an “underperform” rating and issued a $55.00 price objective on shares of Onsemi in a research report on Friday, April 19th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $90.24.

Onsemi Trading Down 1.6 %

NASDAQ:ON opened at $69.01 on Tuesday. The stock’s 50 day moving average price is $72.80 and its 200 day moving average price is $74.99. Onsemi has a 52 week low of $59.34 and a 52 week high of $111.35. The company has a market capitalization of $29.66 billion, a P/E ratio of 14.21, a P/E/G ratio of 7.03 and a beta of 1.80. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.74 and a current ratio of 2.87.

Onsemi (NASDAQ:ON) last announced its quarterly earnings results on Monday, April 29th. The semiconductor company reported $1.08 EPS for the quarter, beating the consensus estimate of $1.04 by $0.04. Onsemi had a return on equity of 28.86% and a net margin of 26.67%. The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter last year, the company posted $1.19 earnings per share. The company’s revenue for the quarter was down 4.9% compared to the same quarter last year. On average, research analysts forecast that Onsemi will post 4.23 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Provence Wealth Management Group acquired a new position in Onsemi during the third quarter worth $25,000. Turtle Creek Wealth Advisors LLC acquired a new position in Onsemi during the fourth quarter worth $32,000. MeadowBrook Investment Advisors LLC acquired a new stake in shares of Onsemi in the fourth quarter valued at $33,000. Private Wealth Management Group LLC bought a new position in shares of Onsemi in the fourth quarter valued at about $33,000. Finally, Hanseatic Management Services Inc. bought a new position in shares of Onsemi in the third quarter valued at about $38,000. 97.70% of the stock is currently 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.