Onsemi (NASDAQ:ON) Price Target Cut to $85.00 by Analysts at TD Cowen

Onsemi (NASDAQ:ON) had its target price lowered by stock analysts at TD Cowen from $90.00 to $85.00 in a report issued on Tuesday, Marketbeat Ratings reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. TD Cowen’s price objective suggests a potential upside of 23.17% from the company’s current price.

ON has been the subject of a number of other reports. BNP Paribas reissued an “underperform” rating and issued a $55.00 price target on shares of Onsemi in a report on Friday, April 19th. Roth Mkm boosted their price objective on Onsemi from $75.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, February 6th. Wells Fargo & Company cut their price objective on Onsemi from $110.00 to $95.00 and set an “overweight” rating on the stock in a report on Tuesday, April 23rd. KeyCorp boosted their price objective on Onsemi from $95.00 to $100.00 and gave the stock an “overweight” rating in a report on Tuesday, February 6th. Finally, Morgan Stanley cut their price objective on Onsemi from $80.00 to $70.00 and set an “equal weight” rating on the stock in a report on Monday, April 22nd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Onsemi presently has an average rating of “Moderate Buy” and a consensus target price of $90.24.

Onsemi Price Performance

Shares of NASDAQ ON opened at $69.01 on Tuesday. Onsemi has a twelve month low of $59.34 and a twelve month high of $111.35. The company has a current ratio of 2.87, a quick ratio of 1.74 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $29.66 billion, a price-to-earnings ratio of 14.21, a PEG ratio of 7.03 and a beta of 1.80. The firm has a 50-day moving average of $72.80 and a two-hundred day moving average of $74.99.

Onsemi (NASDAQ:ON) last issued its quarterly earnings results on Monday, April 29th. The semiconductor company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.04. Onsemi had a net margin of 26.67% and a return on equity of 28.86%. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same period in the prior year, the company earned $1.19 EPS. Onsemi’s revenue was down 4.9% on a year-over-year basis. As a group, analysts expect that Onsemi will post 4.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Onsemi

Several large investors have recently made changes to their positions in ON. Provence Wealth Management Group bought a new stake in shares of Onsemi in the 3rd quarter valued at approximately $25,000. Turtle Creek Wealth Advisors LLC bought a new stake in Onsemi during the fourth quarter worth approximately $32,000. MeadowBrook Investment Advisors LLC bought a new stake in Onsemi during the fourth quarter worth approximately $33,000. Private Wealth Management Group LLC bought a new stake in Onsemi during the fourth quarter worth approximately $33,000. Finally, Hanseatic Management Services Inc. bought a new stake in Onsemi during the third quarter worth approximately $38,000. Institutional investors 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.