Onsemi (NASDAQ:ON) Price Target Cut to $85.00

Onsemi (NASDAQ:ON) had its price target dropped by equities research analysts at Deutsche Bank Aktiengesellschaft from $90.00 to $85.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Deutsche Bank Aktiengesellschaft’s target price would suggest a potential upside of 23.17% from the company’s previous close.

Several other equities analysts also recently commented on ON. Rosenblatt Securities decreased their target price on Onsemi from $75.00 to $70.00 and set a “neutral” rating on the stock in a research report on Tuesday. B. Riley reaffirmed a “buy” rating and issued a $103.00 price objective (down from $115.00) on shares of Onsemi in a report on Tuesday. Morgan Stanley dropped their target price on Onsemi from $80.00 to $70.00 and set an “equal weight” rating for the company in a report on Monday, April 22nd. Benchmark dropped their price objective on shares of Onsemi from $88.00 to $80.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, Susquehanna cut their price objective on shares of Onsemi from $90.00 to $85.00 and set a “positive” rating for the company in a report on Tuesday. 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 company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $90.24.

Onsemi Trading Down 1.6 %

Onsemi stock opened at $69.01 on Tuesday. The firm has a 50-day moving average of $72.80 and a 200-day moving average of $74.99. Onsemi has a one year low of $59.34 and a one year high of $111.35. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.87 and a quick ratio of 1.74. The company has a market cap of $29.66 billion, a price-to-earnings ratio of 14.21, a P/E/G ratio of 7.03 and a beta of 1.80.

Onsemi (NASDAQ:ON) last announced 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. Onsemi had a net margin of 26.67% and a return on equity of 28.86%. The firm had revenue of $1.86 billion during the quarter, compared to analysts’ expectations 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, equities analysts expect that Onsemi will post 4.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Onsemi

Several large investors have recently added to or reduced their stakes in ON. Exchange Traded Concepts LLC raised its holdings in shares of Onsemi by 199.8% during the third quarter. Exchange Traded Concepts LLC now owns 4,062 shares of the semiconductor company’s stock valued at $378,000 after purchasing an additional 2,707 shares during the period. Valeo Financial Advisors LLC lifted its holdings in shares of Onsemi by 16.3% in the third quarter. Valeo Financial Advisors LLC now owns 2,927 shares of the semiconductor company’s stock valued at $272,000 after purchasing an additional 410 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in shares of Onsemi by 9.5% during the third quarter. Commonwealth Equity Services LLC now owns 54,676 shares of the semiconductor company’s stock valued at $5,082,000 after purchasing an additional 4,741 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in Onsemi by 7.0% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 48,903 shares of the semiconductor company’s stock worth $4,546,000 after purchasing an additional 3,200 shares during the last quarter. Finally, Balboa Wealth Partners purchased a new stake in shares of Onsemi during the third quarter valued at approximately $212,000. Institutional investors and hedge funds 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.