Morgan Stanley Lowers Onsemi (NASDAQ:ON) Price Target to $52.00

Onsemi (NASDAQ:ON) had its target price cut by investment analysts at Morgan Stanley from $64.00 to $52.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an “underweight” rating on the semiconductor company’s stock. Morgan Stanley’s target price indicates a potential upside of 0.54% from the stock’s current price.

ON has been the subject of several other reports. Needham & Company LLC reiterated a “buy” rating and set a $87.00 price objective on shares of Onsemi in a research note on Tuesday, November 19th. B. Riley lowered their price target on Onsemi from $100.00 to $90.00 and set a “buy” rating for the company in a report on Friday, January 24th. TD Cowen cut their price objective on Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Benchmark reaffirmed a “buy” rating and issued a $90.00 target price on shares of Onsemi in a research report on Tuesday, October 29th. Finally, Wells Fargo & Company dropped their target price on Onsemi from $85.00 to $80.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, Onsemi has a consensus rating of “Moderate Buy” and an average price target of $80.50.

Onsemi Price Performance

Onsemi stock opened at $51.72 on Tuesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.02 and a current ratio of 3.07. The company has a market cap of $22.02 billion, a price-to-earnings ratio of 12.83, a PEG ratio of 10.02 and a beta of 1.62. Onsemi has a 1 year low of $49.80 and a 1 year high of $85.16. The firm has a 50 day moving average price of $61.35 and a 200 day moving average price of $67.83.

Insider Activity at Onsemi

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 837,710 shares of the company’s stock, valued at approximately $59,477,410. This trade represents a 0.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.31% of the company’s stock.

Institutional Trading of Onsemi

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Metis Global Partners LLC raised its position in shares of Onsemi by 5.4% during the fourth quarter. Metis Global Partners LLC now owns 14,446 shares of the semiconductor company’s stock worth $911,000 after purchasing an additional 735 shares during the period. Fisher Asset Management LLC raised its holdings in Onsemi by 40.0% during the 4th quarter. Fisher Asset Management LLC now owns 446,017 shares of the semiconductor company’s stock worth $28,121,000 after buying an additional 127,384 shares during the period. Mutual of America Capital Management LLC lifted its stake in Onsemi by 59.5% during the fourth quarter. Mutual of America Capital Management LLC now owns 84,140 shares of the semiconductor company’s stock valued at $5,305,000 after buying an additional 31,398 shares in the last quarter. Prosperitas Financial LLC boosted its holdings in shares of Onsemi by 14.1% in the fourth quarter. Prosperitas Financial LLC now owns 36,246 shares of the semiconductor company’s stock worth $2,285,000 after buying an additional 4,466 shares during the period. Finally, Proficio Capital Partners LLC purchased a new position in shares of Onsemi in the fourth quarter worth approximately $4,782,000. 97.70% of the stock is currently owned by 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.