Onsemi (NASDAQ:ON) Price Target Lowered to $50.00 at Craig Hallum

Onsemi (NASDAQ:ON) had its price objective dropped by equities research analysts at Craig Hallum from $78.00 to $50.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “hold” rating on the semiconductor company’s stock. Craig Hallum’s target price indicates a potential upside of 3.20% from the company’s previous close.

A number of other research analysts have also commented on the company. The Goldman Sachs Group decreased their price objective on Onsemi from $92.00 to $77.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. 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 research report on Tuesday, October 29th. TD Cowen cut their price objective on Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Citigroup decreased their price objective on shares of Onsemi from $77.00 to $52.00 and set a “neutral” rating for the company in a research report on Tuesday. Finally, Morgan Stanley reduced their price target on shares of Onsemi from $52.00 to $44.00 and set an “underweight” rating for the company in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $73.80.

Onsemi Stock Performance

Shares of Onsemi stock traded up $1.41 during trading hours on Tuesday, reaching $48.45. The company’s stock had a trading volume of 1,409,043 shares, compared to its average volume of 9,181,984. The stock has a market cap of $20.63 billion, a P/E ratio of 12.02, a price-to-earnings-growth ratio of 10.27 and a beta of 1.62. The company’s 50 day simple moving average is $60.06 and its 200 day simple moving average is $67.34. Onsemi has a one year low of $46.57 and a one year high of $85.16. 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 (NASDAQ:ON) last issued 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, analysts expect that Onsemi will post 3.99 EPS for the current fiscal year.

Insider Transactions at Onsemi

In other 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 directly owns 837,710 shares in the company, valued at approximately $59,477,410. The trade was a 0.18 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.31% of the company’s stock.

Institutional Trading of Onsemi

A number of institutional investors have recently added to or reduced their stakes in the business. Bridgewater Associates LP lifted its position in shares of Onsemi by 8,367.5% in the third 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 in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Onsemi by 35.0% in 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 purchasing an additional 1,037,624 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Onsemi by 26.4% in the third quarter. Van ECK Associates Corp now owns 3,495,056 shares of the semiconductor company’s stock valued at $237,559,000 after buying an additional 729,081 shares in the last quarter. Andra AP fonden lifted its position in shares of Onsemi by 2,388.4% during the 4th quarter. Andra AP fonden now owns 343,400 shares of the semiconductor company’s stock valued at $21,651,000 after acquiring an additional 329,600 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Onsemi by 19.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,009,180 shares of the semiconductor company’s stock worth $145,887,000 after acquiring an additional 326,734 shares during the period. 97.70% of the stock is currently 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.