Onsemi (NASDAQ:ON) Price Target Lowered to $60.00 at Susquehanna

Onsemi (NASDAQ:ON) had its target price decreased by Susquehanna from $70.00 to $60.00 in a research note published on Tuesday morning,Benzinga reports. Susquehanna currently has a positive rating on the semiconductor company’s stock.

A number of other research analysts also recently issued reports on ON. Truist Financial restated a “hold” rating and set a $60.00 price target (down previously from $85.00) on shares of Onsemi in a report on Friday, January 10th. Loop Capital started coverage on Onsemi in a report on Monday, November 11th. They set a “buy” rating and a $95.00 price target on the stock. Rosenblatt Securities restated a “neutral” rating and set a $75.00 price target on shares of Onsemi in a report on Friday, February 7th. Wells Fargo & Company reduced their price target on Onsemi from $85.00 to $80.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Finally, Needham & Company LLC reduced their price target on Onsemi from $66.00 to $57.00 and set a “buy” rating on the stock in a report on Monday. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $69.36.

Onsemi Stock Up 1.9 %

Shares of NASDAQ:ON opened at $47.93 on Tuesday. The stock’s 50-day moving average price is $59.62 and its 200-day moving average price is $67.18. Onsemi has a 12-month low of $46.57 and a 12-month high of $85.16. The stock has a market capitalization of $20.41 billion, a P/E ratio of 11.89, a price-to-earnings-growth ratio of 10.27 and a beta of 1.62. The company has a current ratio of 3.07, a quick ratio of 2.02 and a debt-to-equity ratio of 0.30.

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

Insider Transactions at Onsemi

In other news, CEO Hassane El-Khoury sold 1,500 shares of the company’s stock in a transaction 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 $59,477,410. This represents a 0.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.31% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Onsemi

Several hedge funds and other institutional investors have recently modified their holdings of ON. Bridgewater Associates LP increased its stake in shares of 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 in the last quarter. Allspring Global Investments Holdings LLC increased 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 buying an additional 1,037,624 shares in 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 buying an additional 729,081 shares in the last quarter. Vanguard Group Inc. increased its stake in Onsemi by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 51,135,303 shares of the semiconductor company’s stock worth $3,224,081,000 after buying an additional 344,354 shares in the last quarter. Finally, Andra AP fonden increased its stake in Onsemi by 2,388.4% in the 4th quarter. Andra AP fonden now owns 343,400 shares of the semiconductor company’s stock worth $21,651,000 after buying an additional 329,600 shares in the last quarter. 97.70% of the stock is currently owned by hedge funds and other 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.