Needham & Company LLC Has Lowered Expectations for Onsemi (NASDAQ:ON) Stock Price

Onsemi (NASDAQ:ON) had its price target reduced by Needham & Company LLC from $66.00 to $57.00 in a report published on Monday,Benzinga reports. Needham & Company LLC currently has a buy rating on the semiconductor company’s stock.

ON has been the topic of a number of other research reports. Benchmark reiterated a “buy” rating and set a $90.00 price target on shares of Onsemi in a research report on Tuesday, October 29th. B. Riley dropped their price target on shares of Onsemi from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. UBS Group cut their price target on shares of Onsemi from $72.00 to $65.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. Loop Capital began coverage on shares of Onsemi in a report on Monday, November 11th. They set a “buy” rating and a $95.00 price objective on the stock. Finally, Wells Fargo & Company cut their target price on shares of Onsemi from $85.00 to $80.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $68.16.

Onsemi Price Performance

Shares of NASDAQ ON opened at $50.06 on Monday. 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 stock has a market capitalization of $21.32 billion, a price-to-earnings ratio of 12.42, a PEG ratio of 10.27 and a beta of 1.61. The firm’s 50 day simple moving average is $59.30 and its 200-day simple moving average is $67.06. Onsemi has a 12 month low of $46.57 and a 12 month high of $85.16.

Onsemi (NASDAQ:ON) last released its quarterly earnings results on Monday, February 10th. The semiconductor company reported $0.95 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.03). Onsemi had a net margin of 23.80% and a return on equity of 22.38%. Analysts expect that Onsemi will post 3.99 EPS for the current year.

Insider Buying and Selling at Onsemi

In other Onsemi 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 sale, the chief executive officer now directly owns 837,710 shares in the company, valued at $59,477,410. This trade represents a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Onsemi

A number of hedge funds have recently made changes to their positions in the stock. ExodusPoint Capital Management LP purchased a new stake in Onsemi in the fourth quarter valued at approximately $1,912,000. Bryce Point Capital LLC acquired a new stake in shares of Onsemi in the fourth quarter valued at $489,000. Huntington National Bank raised its holdings in shares of Onsemi by 8.9% in the 4th quarter. Huntington National Bank now owns 3,310 shares of the semiconductor company’s stock valued at $209,000 after buying an additional 271 shares during the period. May Hill Capital LLC acquired a new position in Onsemi during the 4th quarter worth about $226,000. Finally, Brandywine Global Investment Management LLC boosted its holdings in Onsemi by 12.4% during the 4th quarter. Brandywine Global Investment Management LLC now owns 1,319,560 shares of the semiconductor company’s stock valued at $83,198,000 after acquiring an additional 145,378 shares during the period. Hedge funds and other institutional investors own 97.70% of the company’s stock.

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.