The Goldman Sachs Group Issues Pessimistic Forecast for Onsemi (NASDAQ:ON) Stock Price

Onsemi (NASDAQ:ON) had its price objective cut by equities research analysts at The Goldman Sachs Group from $77.00 to $64.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. The Goldman Sachs Group’s price target suggests a potential upside of 33.13% from the company’s previous close.

A number of other equities analysts also recently commented on ON. Truist Financial reiterated a “hold” rating and set a $60.00 price objective (down previously from $85.00) on shares of Onsemi in a research report on Friday, January 10th. Jefferies Financial Group cut their price objective on shares of Onsemi from $100.00 to $85.00 and set a “buy” rating for the company in a research report on Monday. Morgan Stanley decreased their target price on shares of Onsemi from $52.00 to $44.00 and set an “underweight” rating on the stock in a report on Tuesday. Robert W. Baird raised their price target on shares of Onsemi from $70.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Finally, Roth Mkm reiterated a “buy” rating and issued a $100.00 price objective on shares of Onsemi in a report on Thursday, December 12th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $72.08.

Onsemi Price Performance

ON stock traded up $1.03 during midday trading on Tuesday, reaching $48.07. The stock had a trading volume of 3,785,122 shares, compared to its average volume of 9,274,121. Onsemi has a 52-week low of $46.57 and a 52-week high of $85.16. The company has a current ratio of 3.07, a quick ratio of 2.02 and a debt-to-equity ratio of 0.30. The company’s fifty day simple moving average is $60.06 and its 200 day simple moving average is $67.34. The company has a market cap of $20.47 billion, a price-to-earnings ratio of 11.93, a price-to-earnings-growth ratio of 10.27 and a beta of 1.62.

Onsemi (NASDAQ:ON) last posted its quarterly earnings results on Monday, February 10th. The semiconductor company reported $0.95 earnings per share 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%. As a group, sell-side analysts predict that Onsemi will post 3.99 earnings per share for the current fiscal year.

Insider Activity

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $71.00, for a total value of $106,500.00. Following the sale, the chief executive officer now directly owns 837,710 shares of the company’s stock, valued at approximately $59,477,410. This represents a 0.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.31% of the company’s stock.

Institutional Trading of Onsemi

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP purchased a new position in shares of Onsemi in the 3rd quarter valued at $27,000. Ashton Thomas Securities LLC acquired a new position in Onsemi in the third quarter valued at $33,000. GHP Investment Advisors Inc. grew its holdings in shares of Onsemi by 12,850.0% during the third 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. Safe Harbor Fiduciary LLC purchased a new stake in shares of Onsemi in the 3rd quarter valued at about $43,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in shares of Onsemi in the 4th quarter valued at about $41,000. Institutional investors and hedge funds own 97.70% of the company’s stock.

Onsemi Company Profile

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.