UBS Group Has Lowered Expectations for Onsemi (NASDAQ:ON) Stock Price

Onsemi (NASDAQ:ON) had its price objective reduced by stock analysts at UBS Group from $72.00 to $65.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the semiconductor company’s stock. UBS Group’s price target indicates a potential upside of 28.51% from the company’s current price.

ON has been the topic of a number of other reports. Truist Financial restated a “hold” rating and issued a $60.00 target price (down from $85.00) on shares of Onsemi in a report on Friday, January 10th. BNP Paribas decreased their price objective on Onsemi from $60.00 to $55.00 in a research report on Friday, October 25th. Robert W. Baird lifted their target price on Onsemi from $70.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. TD Cowen decreased their price target on Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Finally, Roth Mkm restated a “buy” rating and issued a $100.00 price target on shares of Onsemi in a research report on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $80.50.

Onsemi Stock Up 0.6 %

Shares of ON opened at $50.58 on Monday. The business’s 50 day moving average is $61.72 and its 200 day moving average is $67.95. The company has a current ratio of 3.07, a quick ratio of 2.02 and a debt-to-equity ratio of 0.30. Onsemi has a 12-month low of $49.80 and a 12-month high of $85.16. The company has a market capitalization of $21.54 billion, a PE ratio of 12.55, a price-to-earnings-growth ratio of 10.02 and a beta of 1.62.

Insider Activity

In other news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $71.00, for a total value of $106,500.00. Following the completion of the sale, the chief executive officer now directly owns 837,710 shares in the company, valued at $59,477,410. This represents a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC raised its holdings in Onsemi by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 10,602,000 shares of the semiconductor company’s stock valued at $767,646,000 after buying an additional 309,445 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Onsemi by 35.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,005,784 shares of the semiconductor company’s stock valued at $247,226,000 after acquiring an additional 1,037,624 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of Onsemi by 26.4% in the 3rd quarter. Van ECK Associates Corp now owns 3,495,056 shares of the semiconductor company’s stock valued at $237,559,000 after acquiring an additional 729,081 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Onsemi by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,404,589 shares of the semiconductor company’s stock worth $174,597,000 after acquiring an additional 31,889 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of Onsemi by 19.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,009,180 shares of the semiconductor company’s stock worth $145,887,000 after purchasing an additional 326,734 shares during the period. Hedge funds and other 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.