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

Onsemi (NASDAQ:ON) had its target price decreased by Rosenblatt Securities from $75.00 to $70.00 in a research note issued to investors on Tuesday, Benzinga reports. Rosenblatt Securities currently has a neutral rating on the semiconductor company’s stock.

A number of other equities analysts have also recently weighed in on ON. BNP Paribas reaffirmed an underperform rating and issued a $55.00 price target on shares of Onsemi in a report on Friday, April 19th. Needham & Company LLC reaffirmed a buy rating and set a $92.00 target price on shares of Onsemi in a research note on Tuesday, February 6th. Roth Mkm lifted their price target on shares of Onsemi from $75.00 to $90.00 and gave the company a buy rating in a research note on Tuesday, February 6th. The Goldman Sachs Group reduced their price objective on shares of Onsemi from $91.00 to $81.00 and set a buy rating for the company in a research report on Tuesday, April 16th. Finally, Stifel Nicolaus dropped their target price on shares of Onsemi from $82.00 to $72.00 and set a hold rating on the stock in a research report on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $90.24.

Onsemi Trading Up 0.5 %

Shares of NASDAQ:ON opened at $70.37 on Tuesday. The company has a market capitalization of $30.28 billion, a PE ratio of 14.36, a PEG ratio of 3.12 and a beta of 1.78. Onsemi has a 12-month low of $59.34 and a 12-month high of $111.35. The business has a 50 day moving average of $72.35 and a two-hundred day moving average of $74.77. The company has a current ratio of 2.87, a quick ratio of 1.74 and a debt-to-equity ratio of 0.32.

Onsemi (NASDAQ:ON) last announced its quarterly earnings results on Monday, April 29th. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04. Onsemi had a net margin of 26.67% and a return on equity of 28.86%. The firm had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same period in the prior year, the firm posted $1.19 earnings per share. The firm’s quarterly revenue was down 4.9% compared to the same quarter last year. As a group, analysts forecast that Onsemi will post 3.86 EPS for the current year.

Institutional Trading of Onsemi

Several institutional investors have recently made changes to their positions in ON. International Assets Investment Management LLC lifted its position in Onsemi by 7,749.6% in the fourth quarter. International Assets Investment Management LLC now owns 83,363 shares of the semiconductor company’s stock valued at $6,963,000 after buying an additional 82,301 shares during the last quarter. Harvest Fund Management Co. Ltd boosted its position in shares of Onsemi by 7.1% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 9,610 shares of the semiconductor company’s stock worth $798,000 after purchasing an additional 637 shares during the period. State of Michigan Retirement System increased its holdings in Onsemi by 3.6% in the 4th quarter. State of Michigan Retirement System now owns 140,536 shares of the semiconductor company’s stock valued at $11,739,000 after purchasing an additional 4,900 shares during the last quarter. Synergy Asset Management LLC raised its position in Onsemi by 91.5% in the fourth quarter. Synergy Asset Management LLC now owns 154,649 shares of the semiconductor company’s stock valued at $12,918,000 after purchasing an additional 73,909 shares during the period. Finally, Handelsinvest Investeringsforvaltning acquired a new position in Onsemi during the fourth quarter worth $1,137,000. Hedge funds and other 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.