Truist Financial Lowers Onsemi (NASDAQ:ON) Price Target to $52.00

Onsemi (NASDAQ:ON) had its price target dropped by research analysts at Truist Financial from $60.00 to $52.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “hold” rating on the semiconductor company’s stock. Truist Financial’s price objective would indicate a potential upside of 7.62% from the company’s current price.

A number of other research firms have also weighed in on ON. Jefferies Financial Group cut their target price on shares of Onsemi from $100.00 to $85.00 and set a “buy” rating for the company in a research report on Monday. UBS Group cut their target price on shares of Onsemi from $72.00 to $65.00 and set a “neutral” rating for the company in a research report on Monday, February 3rd. Roth Mkm cut their target price on shares of Onsemi from $100.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday. Citigroup cut their target price on shares of Onsemi from $77.00 to $52.00 and set a “neutral” rating for the company in a research report on Tuesday. Finally, Stifel Nicolaus cut their target price on shares of Onsemi from $60.00 to $52.00 and set a “hold” rating for the company in a research report on Tuesday. Two research 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $69.36.

Onsemi Stock Up 2.7 %

NASDAQ:ON traded up $1.28 during trading hours on Tuesday, reaching $48.32. The company’s stock had a trading volume of 6,177,743 shares, compared to its average volume of 9,379,168. The company has a market cap of $20.57 billion, a price-to-earnings ratio of 11.98, a price-to-earnings-growth ratio of 10.27 and a beta of 1.62. Onsemi has a one year low of $46.57 and a one year high of $85.16. The business’s 50-day moving average is $60.06 and its 200-day moving average is $67.34. 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 issued 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 return on equity of 22.38% and a net margin of 23.80%. Equities research analysts predict that Onsemi will post 3.99 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 837,710 shares of the company’s stock, valued at $59,477,410. This represents a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.31% of the company’s stock.

Institutional Trading of Onsemi

Several hedge funds have recently modified their holdings of ON. Livforsakringsbolaget Skandia Omsesidigt grew its stake in shares of Onsemi by 268.2% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,163 shares of the semiconductor company’s stock valued at $230,000 after purchasing an additional 2,304 shares during the last quarter. Exchange Traded Concepts LLC boosted its stake in Onsemi by 675.6% in the third quarter. Exchange Traded Concepts LLC now owns 3,754 shares of the semiconductor company’s stock valued at $273,000 after acquiring an additional 3,270 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its stake in Onsemi by 22.2% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,619 shares of the semiconductor company’s stock valued at $263,000 after acquiring an additional 657 shares during the last quarter. CX Institutional boosted its stake in Onsemi by 5.2% in the third quarter. CX Institutional now owns 4,681 shares of the semiconductor company’s stock valued at $340,000 after acquiring an additional 232 shares during the last quarter. Finally, Creative Planning boosted its stake in Onsemi by 35.9% in the third quarter. Creative Planning now owns 29,879 shares of the semiconductor company’s stock valued at $2,170,000 after acquiring an additional 7,888 shares during the last quarter. 97.70% of the stock is owned by 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.