Needham & Company LLC Cuts Onsemi (NASDAQ:ON) Price Target to $87.00

Onsemi (NASDAQ:ON) had its price target trimmed by Needham & Company LLC from $92.00 to $87.00 in a research report released on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the semiconductor company’s stock.

A number of other equities analysts have also recently weighed in on the stock. BNP Paribas lowered their price objective on shares of Onsemi from $60.00 to $55.00 in a research report on Friday, October 25th. Bank of America increased their price objective on shares of Onsemi from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Morgan Stanley increased their price objective on shares of Onsemi from $63.00 to $64.00 and gave the stock an “underweight” rating in a research report on Tuesday. KeyCorp reduced their target price on shares of Onsemi from $95.00 to $90.00 and set an “overweight” rating on the stock in a report on Tuesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Onsemi from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Onsemi presently has an average rating of “Moderate Buy” and a consensus target price of $85.91.

Onsemi Stock Down 4.3 %

Shares of NASDAQ ON opened at $70.49 on Tuesday. Onsemi has a 12-month low of $59.34 and a 12-month high of $86.77. The stock has a market cap of $30.01 billion, a PE ratio of 17.49, a P/E/G ratio of 7.89 and a beta of 1.65. The company has a current ratio of 3.07, a quick ratio of 1.95 and a debt-to-equity ratio of 0.30. The company has a 50-day moving average of $71.43 and a 200 day moving average of $71.49.

Onsemi (NASDAQ:ON) last posted its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.02. Onsemi had a net margin of 23.80% and a return on equity of 22.38%. The business had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.75 billion. During the same quarter in the prior year, the company posted $1.39 EPS. The business’s revenue for the quarter was down 19.2% on a year-over-year basis. As a group, sell-side analysts predict that Onsemi will post 4 EPS for the current fiscal year.

Insider Buying and Selling

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $72.71, for a total transaction of $109,065.00. Following the transaction, the chief executive officer now directly owns 839,210 shares of the company’s stock, valued at approximately $61,018,959.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.31% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Lifestyle Asset Management Inc. boosted its holdings in shares of Onsemi by 6.4% in the third quarter. Lifestyle Asset Management Inc. now owns 13,476 shares of the semiconductor company’s stock valued at $978,000 after acquiring an additional 815 shares in the last quarter. Avidian Wealth Enterprises LLC purchased a new stake in shares of Onsemi in the third quarter valued at about $201,000. Sentry Investment Management LLC boosted its holdings in shares of Onsemi by 3.0% in the third quarter. Sentry Investment Management LLC now owns 7,177 shares of the semiconductor company’s stock valued at $521,000 after acquiring an additional 209 shares in the last quarter. Catalyst Capital Advisors LLC boosted its holdings in shares of Onsemi by 235.0% in the third quarter. Catalyst Capital Advisors LLC now owns 1,387 shares of the semiconductor company’s stock valued at $101,000 after acquiring an additional 973 shares in the last quarter. Finally, Asset Management One Co. Ltd. boosted its holdings in shares of Onsemi by 0.5% in the third quarter. Asset Management One Co. Ltd. now owns 186,997 shares of the semiconductor company’s stock valued at $13,578,000 after acquiring an additional 1,007 shares in the last quarter. 97.70% of the stock is owned by hedge funds and other institutional investors.

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.