Onsemi (NASDAQ:ON) Price Target Cut to $90.00

Onsemi (NASDAQ:ON) had its price objective reduced by analysts at KeyCorp from $100.00 to $90.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the semiconductor company’s stock. KeyCorp’s target price indicates a potential upside of 30.42% from the company’s previous close.

Other research analysts have also issued research reports about the stock. The Goldman Sachs Group cut their price target on shares of Onsemi from $91.00 to $81.00 and set a “buy” rating on the stock in a report on Tuesday, April 16th. Wells Fargo & Company cut their price target on shares of Onsemi from $110.00 to $95.00 and set an “overweight” rating on the stock in a report on Tuesday, April 23rd. Evercore ISI assumed coverage on shares of Onsemi in a report on Tuesday, April 16th. They issued an “outperform” rating and a $104.00 price target on the stock. Needham & Company LLC restated a “buy” rating and issued a $92.00 price target on shares of Onsemi in a report on Tuesday. Finally, Roth Mkm raised their price target on shares of Onsemi from $75.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, February 6th. One analyst has rated the stock with a sell rating, ten have given a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, Onsemi presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.24.

Onsemi Price Performance

ON opened at $69.01 on Tuesday. The company’s 50 day simple moving average is $72.80 and its 200 day simple moving average is $74.99. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.74 and a current ratio of 2.87. Onsemi has a 1 year low of $59.34 and a 1 year high of $111.35. The stock has a market capitalization of $29.66 billion, a PE ratio of 14.21, a P/E/G ratio of 7.03 and a beta of 1.80.

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

Institutional Trading of Onsemi

Several institutional investors have recently added to or reduced their stakes in the business. Iridian Asset Management LLC CT increased its stake in Onsemi by 7.0% during the first quarter. Iridian Asset Management LLC CT now owns 51,475 shares of the semiconductor company’s stock valued at $3,786,000 after purchasing an additional 3,369 shares during the last quarter. Wambolt & Associates LLC increased its stake in Onsemi by 41.2% during the first quarter. Wambolt & Associates LLC now owns 24,037 shares of the semiconductor company’s stock valued at $1,775,000 after purchasing an additional 7,012 shares during the last quarter. Norden Group LLC bought a new stake in Onsemi during the first quarter valued at $774,000. Van ECK Associates Corp increased its stake in Onsemi by 25.7% during the first quarter. Van ECK Associates Corp now owns 2,564,123 shares of the semiconductor company’s stock valued at $188,591,000 after purchasing an additional 523,655 shares during the last quarter. Finally, Fortis Group Advisors LLC bought a new stake in Onsemi during the first quarter valued at $1,032,000. 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.