Truist Financial Has Lowered Expectations for Onsemi (NASDAQ:ON) Stock Price

Onsemi (NASDAQ:ON) had its price target cut by Truist Financial from $97.00 to $89.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the semiconductor company’s stock. Truist Financial’s target price would indicate a potential upside of 20.87% from the stock’s current price.

ON has been the subject of a number of other research reports. Bank of America lifted their price objective on shares of Onsemi from $80.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. TD Cowen cut their price objective on shares of Onsemi from $90.00 to $85.00 and set a “buy” rating for the company in a report on Friday, October 25th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $75.00 price objective on shares of Onsemi in a report on Tuesday. Needham & Company LLC cut their price objective on shares of Onsemi from $92.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday. Finally, StockNews.com lowered shares of Onsemi from a “hold” rating to a “sell” rating in a research report on Monday, August 26th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $85.91.

Onsemi Trading Down 1.4 %

NASDAQ:ON opened at $73.63 on Tuesday. Onsemi has a 12 month low of $59.34 and a 12 month high of $86.77. The firm has a fifty day simple moving average of $71.43 and a 200-day simple moving average of $71.49. The company has a current ratio of 3.01, a quick ratio of 1.95 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $31.54 billion, a P/E ratio of 18.27, a PEG ratio of 3.82 and a beta of 1.65.

Onsemi (NASDAQ:ON) last issued its earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.02. Onsemi had a net margin of 24.84% and a return on equity of 25.48%. The firm had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.75 billion. During the same quarter last year, the company posted $1.39 earnings per share. The firm’s revenue was down 19.2% compared to the same quarter last year. On average, equities research analysts anticipate that Onsemi will post 4.01 earnings per share for the current year.

Insiders Place Their Bets

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $72.71, for a total value of $109,065.00. Following the completion of the transaction, the chief executive officer now owns 839,210 shares of the company’s stock, valued at $61,018,959.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.31% of the stock is owned by company insiders.

Institutional Investors Weigh In On Onsemi

Several institutional investors have recently modified their holdings of ON. GHP Investment Advisors Inc. lifted its position in shares of Onsemi by 12,850.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 518 shares of the semiconductor company’s stock worth $38,000 after purchasing an additional 514 shares during the last quarter. Westside Investment Management Inc. raised its stake in Onsemi by 5,500.0% during the 1st quarter. Westside Investment Management Inc. now owns 560 shares of the semiconductor company’s stock worth $41,000 after acquiring an additional 550 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its stake in Onsemi by 36.7% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock worth $43,000 after acquiring an additional 169 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Onsemi during the 2nd quarter worth $43,000. Finally, Fidelis Capital Partners LLC acquired a new stake in Onsemi during the 1st quarter worth $45,000. 97.70% of the stock is owned by hedge funds and other institutional investors.

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.