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

Onsemi (NASDAQ:ON) had its price target lowered by The Goldman Sachs Group from $92.00 to $77.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. The Goldman Sachs Group’s price target points to a potential upside of 42.75% from the stock’s previous close.

Several other equities research analysts have also commented on the company. Mizuho set a $85.00 price target on Onsemi in a research note on Friday, October 18th. StockNews.com raised shares of Onsemi from a “sell” rating to a “hold” rating in a research report on Tuesday, October 29th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $75.00 price target on shares of Onsemi in a research report on Tuesday, October 29th. BNP Paribas dropped their price objective on shares of Onsemi from $60.00 to $55.00 in a research report on Friday, October 25th. Finally, TD Cowen reduced their target price on shares of Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $84.43.

Onsemi Trading Down 7.5 %

Shares of Onsemi stock opened at $53.94 on Friday. The firm has a market cap of $22.97 billion, a PE ratio of 13.38, a P/E/G ratio of 7.07 and a beta of 1.64. The company has a quick ratio of 2.02, a current ratio of 3.07 and a debt-to-equity ratio of 0.30. Onsemi has a fifty-two week low of $53.60 and a fifty-two week high of $85.16. The business’s fifty day moving average is $66.86 and its two-hundred day moving average is $70.27.

Onsemi (NASDAQ:ON) last released its earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.02. Onsemi had a return on equity of 22.38% and a net margin of 23.80%. The firm had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.75 billion. During the same period in the prior year, the business posted $1.39 earnings per share. The firm’s revenue for the quarter was down 19.2% compared to the same quarter last year. Analysts anticipate that Onsemi will post 4 earnings per share for the current year.

Insider Activity at Onsemi

In related news, CEO Hassane El-Khoury sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $71.00, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.31% of the stock is currently owned by corporate insiders.

Institutional Trading of Onsemi

Institutional investors and hedge funds have recently modified their holdings of the business. Nordea Investment Management AB boosted its position in Onsemi by 25.9% during the 4th quarter. Nordea Investment Management AB now owns 402,124 shares of the semiconductor company’s stock valued at $25,724,000 after purchasing an additional 82,614 shares during the period. Natixis Advisors LLC boosted its holdings in shares of Onsemi by 1.4% during the third quarter. Natixis Advisors LLC now owns 1,352,005 shares of the semiconductor company’s stock valued at $98,169,000 after acquiring an additional 18,450 shares during the period. Cinctive Capital Management LP bought a new position in shares of Onsemi during the third quarter worth about $1,270,000. Public Employees Retirement System of Ohio increased its holdings in shares of Onsemi by 18.7% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 194,409 shares of the semiconductor company’s stock worth $14,116,000 after acquiring an additional 30,695 shares during the period. Finally, World Investment Advisors LLC acquired a new position in Onsemi during the 3rd quarter valued at about $1,087,000. 97.70% of the stock is owned by institutional investors and hedge funds.

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.