Onsemi (NASDAQ:ON) Price Target Cut to $60.00 by Analysts at Benchmark

Onsemi (NASDAQ:ON) had its price target decreased by Benchmark from $90.00 to $60.00 in a report released on Wednesday morning,Benzinga reports. Benchmark currently has a buy rating on the semiconductor company’s stock.

A number of other analysts have also commented on the company. The Goldman Sachs Group lowered their price objective on Onsemi from $77.00 to $64.00 and set a “buy” rating for the company in a research report on Tuesday. Truist Financial dropped their price target on shares of Onsemi from $60.00 to $52.00 and set a “hold” rating for the company in a research note on Tuesday. Susquehanna cut their price objective on shares of Onsemi from $70.00 to $60.00 and set a “positive” rating on the stock in a report on Tuesday. Citigroup lowered their target price on shares of Onsemi from $77.00 to $52.00 and set a “neutral” rating for the company in a report on Tuesday. Finally, TD Cowen cut their price target on Onsemi from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $68.16.

Onsemi Stock Performance

Shares of NASDAQ:ON opened at $50.06 on Wednesday. The business has a fifty day moving average of $59.30 and a 200-day moving average of $67.06. 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 twelve month low of $46.57 and a twelve month high of $85.16. The firm has a market cap of $21.32 billion, a PE ratio of 12.42, a price-to-earnings-growth ratio of 10.27 and a beta of 1.61.

Onsemi (NASDAQ:ON) last posted 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%. On average, equities research analysts predict that Onsemi will post 3.99 EPS for the current fiscal year.

Insider Activity

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi stock in a transaction on Monday, November 25th. The shares were sold at an average price of $71.00, for a total value of $106,500.00. Following 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 filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.31% of the company’s stock.

Institutional Trading of Onsemi

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Onsemi by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 51,135,303 shares of the semiconductor company’s stock valued at $3,224,081,000 after purchasing an additional 344,354 shares during the period. Geode Capital Management LLC increased its position in Onsemi by 3.0% during the third quarter. Geode Capital Management LLC now owns 10,602,000 shares of the semiconductor company’s stock worth $767,646,000 after buying an additional 309,445 shares during the last quarter. Norges Bank bought a new stake in Onsemi in the fourth quarter valued at approximately $378,312,000. Allspring Global Investments Holdings LLC lifted its position in shares of Onsemi by 35.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,005,784 shares of the semiconductor company’s stock valued at $247,226,000 after buying an additional 1,037,624 shares during the last quarter. Finally, Van ECK Associates Corp raised 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 valued at $237,559,000 after acquiring an additional 729,081 shares during the period. Institutional investors and hedge funds own 97.70% of the company’s stock.

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.