Morgan Stanley Lowers Onsemi (NASDAQ:ON) Price Target to $70.00

Onsemi (NASDAQ:ON) had its target price reduced by research analysts at Morgan Stanley from $80.00 to $70.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has an “equal weight” rating on the semiconductor company’s stock. Morgan Stanley’s price objective suggests a potential upside of 13.49% from the company’s previous close.

Other equities analysts have also issued research reports about the company. Truist Financial dropped their price objective on Onsemi from $94.00 to $89.00 and set a “buy” rating on the stock in a report on Tuesday, February 6th. The Goldman Sachs Group dropped their price objective on Onsemi from $91.00 to $81.00 and set a “buy” rating on the stock in a report on Tuesday, April 16th. JPMorgan Chase & Co. dropped their price objective on Onsemi from $95.00 to $90.00 and set a “neutral” rating on the stock in a report on Tuesday, February 6th. Susquehanna reissued a “positive” rating and set a $90.00 price target on shares of Onsemi in a report on Monday, April 8th. Finally, Needham & Company LLC reissued a “buy” rating and set a $92.00 price target on shares of Onsemi in a report on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Onsemi has a consensus rating of “Moderate Buy” and a consensus target price of $95.28.

Onsemi Stock Up 1.7 %

Onsemi stock opened at $61.68 on Monday. Onsemi has a 1-year low of $59.34 and a 1-year high of $111.35. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.71 and a quick ratio of 1.74. The stock has a market cap of $26.51 billion, a PE ratio of 12.61, a P/E/G ratio of 5.92 and a beta of 1.80. The stock’s fifty day moving average is $73.93 and its two-hundred day moving average is $75.84.

Onsemi (NASDAQ:ON) last posted its quarterly earnings results on Monday, February 5th. The semiconductor company reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.04. Onsemi had a return on equity of 31.36% and a net margin of 26.46%. The company had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $2 billion. During the same period last year, the firm earned $1.32 earnings per share. Onsemi’s quarterly revenue was down 4.1% on a year-over-year basis. On average, sell-side analysts expect that Onsemi will post 4.31 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Global Retirement Partners LLC grew its stake in Onsemi by 5.3% in the 1st quarter. Global Retirement Partners LLC now owns 3,970 shares of the semiconductor company’s stock worth $292,000 after acquiring an additional 200 shares during the period. Raymond James Financial Services Advisors Inc. grew its stake in Onsemi by 3.6% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 129,750 shares of the semiconductor company’s stock worth $9,543,000 after acquiring an additional 4,551 shares during the period. Paradiem LLC grew its stake in Onsemi by 21.3% in the 1st quarter. Paradiem LLC now owns 43,383 shares of the semiconductor company’s stock worth $3,191,000 after acquiring an additional 7,621 shares during the period. Retirement Guys Formula LLC grew its stake in Onsemi by 32.8% in the 1st quarter. Retirement Guys Formula LLC now owns 15,171 shares of the semiconductor company’s stock worth $1,116,000 after acquiring an additional 3,750 shares during the period. Finally, First Trust Direct Indexing L.P. grew its stake in Onsemi by 9.6% in the 1st quarter. First Trust Direct Indexing L.P. now owns 12,130 shares of the semiconductor company’s stock worth $892,000 after acquiring an additional 1,059 shares during the period. 97.70% of the stock is currently owned by institutional investors and hedge funds.

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.