Onsemi (NASDAQ:ON) Price Target Lowered to $60.00 at Susquehanna

Onsemi (NASDAQ:ON) had its price objective decreased by equities research analysts at Susquehanna from $70.00 to $60.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “positive” rating on the semiconductor company’s stock. Susquehanna’s price target indicates a potential upside of 24.57% from the company’s current price.

ON has been the topic of several other reports. B. Riley cut their target price on Onsemi from $90.00 to $73.00 and set a “buy” rating on the stock in a research note on Tuesday. UBS Group decreased their target price on shares of Onsemi from $72.00 to $65.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. StockNews.com raised Onsemi from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. Wells Fargo & Company reduced their price objective on Onsemi from $85.00 to $80.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Finally, Roth Mkm reissued a “buy” rating and set a $100.00 price target on shares of Onsemi in a report on Thursday, December 12th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $73.40.

Onsemi Price Performance

NASDAQ:ON traded up $1.12 during trading hours on Tuesday, hitting $48.16. 2,576,649 shares of the company’s stock traded hands, compared to its average volume of 9,225,909. The firm has a market cap of $20.51 billion, a P/E ratio of 11.97, a P/E/G ratio of 10.27 and a beta of 1.62. The company has a quick ratio of 2.02, a current ratio of 3.07 and a debt-to-equity ratio of 0.30. The business’s fifty day simple moving average is $60.06 and its two-hundred day simple moving average is $67.34. Onsemi has a 52 week low of $46.57 and a 52 week high of $85.16.

Onsemi (NASDAQ:ON) last posted its quarterly earnings data on Monday, February 10th. The semiconductor company reported $0.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.03). Onsemi had a return on equity of 22.38% and a net margin of 23.80%. On average, research analysts anticipate that Onsemi will post 3.99 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Hassane El-Khoury sold 1,500 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $71.00, for a total transaction of $106,500.00. Following the transaction, the chief executive officer now directly owns 837,710 shares of the company’s stock, valued at $59,477,410. This represents a 0.18 % 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 currently owned by corporate insiders.

Hedge Funds Weigh In On Onsemi

Several hedge funds have recently made changes to their positions in ON. Geode Capital Management LLC boosted its holdings in shares of 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 acquiring an additional 309,445 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Onsemi by 35.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,005,784 shares of the semiconductor company’s stock valued at $247,226,000 after buying an additional 1,037,624 shares during the last quarter. Van ECK Associates Corp lifted its holdings 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 buying an additional 729,081 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Onsemi by 3.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,488,254 shares of the semiconductor company’s stock worth $156,884,000 after buying an additional 83,665 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in Onsemi by 19.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,009,180 shares of the semiconductor company’s stock worth $145,887,000 after acquiring an additional 326,734 shares during the period. 97.70% of the stock is owned by institutional investors and hedge funds.

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.