B. Riley Cuts Onsemi (NASDAQ:ON) Price Target to $73.00

Onsemi (NASDAQ:ON) had its target price cut by investment analysts at B. Riley from $90.00 to $73.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. B. Riley’s price target suggests a potential upside of 50.84% from the stock’s current price.

Several other analysts have also commented on ON. Jefferies Financial Group cut their price objective on Onsemi from $100.00 to $85.00 and set a “buy” rating for the company in a report on Monday. JPMorgan Chase & Co. lowered their price objective on shares of Onsemi from $88.00 to $60.00 and set a “neutral” rating on the stock in a research note on Tuesday. Rosenblatt Securities restated a “neutral” rating and set a $75.00 target price on shares of Onsemi in a research report on Friday. Benchmark reiterated a “buy” rating and set a $90.00 price target on shares of Onsemi in a research note on Tuesday, October 29th. Finally, Loop Capital began coverage on Onsemi in a research note on Monday, November 11th. They issued a “buy” rating and a $95.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $74.79.

Onsemi Trading Up 2.9 %

Shares of NASDAQ:ON opened at $48.40 on Tuesday. Onsemi has a 1 year low of $46.55 and a 1 year high of $85.16. The stock’s fifty day moving average price is $60.06 and its 200-day moving average price is $67.34. The company has a market cap of $20.61 billion, a P/E ratio of 11.99, a PEG ratio of 10.27 and a beta of 1.62. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.07 and a quick ratio of 2.02.

Onsemi (NASDAQ:ON) last announced its quarterly earnings results on Monday, February 10th. The semiconductor company reported $0.95 EPS 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%. Sell-side analysts expect that Onsemi will post 3.99 earnings per share for the current year.

Insiders Place Their Bets

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 transaction of $106,500.00. Following the completion of the transaction, the chief executive officer now directly owns 837,710 shares of the company’s stock, valued at $59,477,410. The trade was a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 added to or reduced their stakes in ON. Nordea Investment Management AB boosted its position in Onsemi by 25.9% in the 4th quarter. Nordea Investment Management AB now owns 402,124 shares of the semiconductor company’s stock valued at $25,724,000 after buying an additional 82,614 shares during the period. Natixis Advisors LLC raised its stake in shares of Onsemi by 1.4% during the 3rd quarter. Natixis Advisors LLC now owns 1,352,005 shares of the semiconductor company’s stock worth $98,169,000 after acquiring an additional 18,450 shares in the last quarter. Cinctive Capital Management LP acquired a new position in shares of Onsemi during the third quarter worth $1,270,000. Blue Trust Inc. raised its stake in Onsemi by 16.1% in the fourth quarter. Blue Trust Inc. now owns 8,076 shares of the semiconductor company’s stock valued at $509,000 after buying an additional 1,119 shares during the last quarter. Finally, Oak Thistle LLC acquired a new stake in Onsemi in the 4th quarter worth approximately $515,000. 97.70% of the stock is owned by hedge funds and other institutional investors.

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.