Onsemi (NASDAQ:ON) PT Lowered to $80.00

Onsemi (NASDAQ:ON) had its price objective decreased by Benchmark from $88.00 to $80.00 in a research report sent to investors on Tuesday morning, Benzinga reports. Benchmark currently has a buy rating on the semiconductor company’s stock.

Other equities research analysts also recently issued 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. BNP Paribas reissued an underperform rating and issued a $55.00 target price on shares of Onsemi in a research report on Friday, April 19th. Evercore ISI started coverage on shares of Onsemi in a research report on Tuesday, April 16th. They set an outperform rating and a $104.00 price target on the stock. Rosenblatt Securities lowered their price objective on Onsemi from $75.00 to $70.00 and set a neutral rating for the company in a report on Tuesday. Finally, Morgan Stanley cut their price objective on Onsemi from $80.00 to $70.00 and set an equal weight rating on the stock in a research note on Monday, April 22nd. 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. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $90.24.

Onsemi Stock Up 0.5 %

Shares of NASDAQ:ON opened at $70.37 on Tuesday. The company has a 50 day moving average of $72.35 and a two-hundred day moving average of $74.77. Onsemi has a 52-week low of $59.34 and a 52-week high of $111.35. The company has a quick ratio of 1.74, a current ratio of 2.87 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $30.28 billion, a price-to-earnings ratio of 14.36, a price-to-earnings-growth ratio of 3.12 and a beta of 1.78.

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

Institutional Trading of Onsemi

Hedge funds have recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC lifted its stake in shares of Onsemi by 199.8% in the 3rd quarter. Exchange Traded Concepts LLC now owns 4,062 shares of the semiconductor company’s stock worth $378,000 after acquiring an additional 2,707 shares during the period. Valeo Financial Advisors LLC lifted its position in Onsemi by 16.3% in the third quarter. Valeo Financial Advisors LLC now owns 2,927 shares of the semiconductor company’s stock worth $272,000 after purchasing an additional 410 shares during the period. Commonwealth Equity Services LLC boosted its stake in Onsemi by 9.5% during the 3rd 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 increased its position in shares of Onsemi by 7.0% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 48,903 shares of the semiconductor company’s stock valued at $4,546,000 after purchasing an additional 3,200 shares during the period. Finally, Balboa Wealth Partners bought a new stake in shares of Onsemi in the 3rd quarter worth $212,000. 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.