Onsemi (NASDAQ:ON) Price Target Cut to $85.00 by Analysts at Susquehanna

Onsemi (NASDAQ:ON) had its price objective lowered by Susquehanna from $90.00 to $85.00 in a research note issued to investors on Tuesday morning, Benzinga reports. Susquehanna currently has a positive rating on the semiconductor company’s stock.

A number of other research analysts also recently commented on the company. BNP Paribas reaffirmed an underperform rating and set a $55.00 target price on shares of Onsemi in a report on Friday, April 19th. Mizuho reduced their target price on Onsemi from $98.00 to $92.00 and set a buy rating on the stock in a report on Tuesday, February 6th. Morgan Stanley cut their price target on Onsemi from $80.00 to $70.00 and set an equal weight rating on the stock in a report on Monday, April 22nd. Truist Financial cut their price target on Onsemi from $94.00 to $89.00 and set a buy rating on the stock in a report on Tuesday, February 6th. Finally, TD Cowen cut their price target on Onsemi from $90.00 to $85.00 and set a buy rating on the stock in a report on Tuesday. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $90.24.

Onsemi Price Performance

ON stock opened at $70.16 on Tuesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.74 and a current ratio of 2.71. Onsemi has a 1 year low of $59.34 and a 1 year high of $111.35. The firm has a market cap of $30.16 billion, a P/E ratio of 14.50, a price-to-earnings-growth ratio of 6.71 and a beta of 1.80. The stock has a 50-day simple moving average of $72.95 and a 200-day simple moving average of $75.13.

Onsemi (NASDAQ:ON) last issued its quarterly earnings results on Monday, April 29th. The semiconductor company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.04. The firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.85 billion. Onsemi had a return on equity of 31.36% and a net margin of 26.46%. Onsemi’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.19 earnings per share. On average, equities analysts predict that Onsemi will post 4.26 earnings per share for the current fiscal year.

Institutional Trading of Onsemi

A number of institutional investors have recently bought and sold shares of ON. Provence Wealth Management Group acquired a new stake in Onsemi during the third quarter valued at $25,000. Turtle Creek Wealth Advisors LLC bought a new position in Onsemi during the fourth quarter valued at about $32,000. MeadowBrook Investment Advisors LLC bought a new position in Onsemi during the fourth quarter valued at about $33,000. Private Wealth Management Group LLC bought a new position in Onsemi during the fourth quarter valued at about $33,000. Finally, Hanseatic Management Services Inc. bought a new position in Onsemi during the third quarter valued at about $38,000. Institutional investors and hedge funds 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.