Morgan Stanley Cuts Onsemi (NASDAQ:ON) Price Target to $44.00

Onsemi (NASDAQ:ON) had its price target dropped by investment analysts at Morgan Stanley from $52.00 to $44.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “underweight” rating on the semiconductor company’s stock. Morgan Stanley’s price objective would indicate a potential downside of 6.46% from the stock’s current price.

Other equities research analysts have also issued research reports about the stock. Roth Mkm reiterated a “buy” rating and issued a $100.00 price objective on shares of Onsemi in a research note on Thursday, December 12th. Truist Financial reissued a “hold” rating and issued a $60.00 price objective (down previously from $85.00) on shares of Onsemi in a research report on Friday, January 10th. Loop Capital initiated coverage on shares of Onsemi in a report on Monday, November 11th. They set a “buy” rating and a $95.00 price objective for the company. B. Riley dropped their target price on shares of Onsemi from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. Finally, Jefferies Financial Group lowered their price target on shares of Onsemi from $100.00 to $85.00 and set a “buy” rating on the stock in a report on Monday. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $75.50.

Onsemi Stock Performance

Shares of ON opened at $47.04 on Tuesday. The firm has a market capitalization of $20.03 billion, a P/E ratio of 11.67, a P/E/G ratio of 10.27 and a beta of 1.62. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.02 and a current ratio of 3.07. Onsemi has a 52 week low of $46.57 and a 52 week high of $85.16. The stock has a 50 day moving average price of $60.06 and a two-hundred day moving average price of $67.34.

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

Insider Buying and Selling at Onsemi

In related news, CEO Hassane El-Khoury sold 1,500 shares of the business’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 value of $106,500.00. Following the completion of the sale, the chief executive officer now owns 837,710 shares in the company, valued at $59,477,410. The trade was a 0.18 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.31% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Bridgewater Associates LP raised its position in Onsemi by 8,367.5% in the 3rd quarter. Bridgewater Associates LP now owns 1,123,041 shares of the semiconductor company’s stock worth $81,544,000 after purchasing an additional 1,109,778 shares during the period. Allspring Global Investments Holdings LLC grew its position in 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 worth $247,226,000 after acquiring an additional 1,037,624 shares during the last quarter. Van ECK Associates Corp increased its stake in Onsemi by 26.4% in the 3rd quarter. Van ECK Associates Corp now owns 3,495,056 shares of the semiconductor company’s stock worth $237,559,000 after purchasing an additional 729,081 shares during the period. Andra AP fonden lifted its position in Onsemi by 2,388.4% in the fourth quarter. Andra AP fonden now owns 343,400 shares of the semiconductor company’s stock valued at $21,651,000 after purchasing an additional 329,600 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of 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 valued at $145,887,000 after purchasing an additional 326,734 shares during the period. 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.