Onsemi (NASDAQ:ON) Given New $57.00 Price Target at Needham & Company LLC

Onsemi (NASDAQ:ON) had its price target cut by analysts at Needham & Company LLC from $66.00 to $57.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s price target would indicate a potential upside of 18.92% from the company’s previous close.

Several other brokerages have also recently issued reports on ON. TD Cowen decreased their price objective on Onsemi from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, October 25th. The Goldman Sachs Group decreased their target price on Onsemi from $92.00 to $77.00 and set a “buy” rating for the company in a research note on Friday, January 10th. UBS Group decreased their target price on Onsemi from $72.00 to $65.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. Loop Capital began coverage on Onsemi in a research note on Monday, November 11th. They set a “buy” rating and a $95.00 target price for the company. Finally, Susquehanna decreased their target price on Onsemi from $80.00 to $70.00 and set a “positive” rating for the company in a research note on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.36.

Onsemi Stock Performance

Shares of ON opened at $47.93 on Monday. The stock has a 50-day simple moving average of $59.62 and a 200-day simple moving average of $67.18. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.02 and a current ratio of 3.07. The stock has a market capitalization of $20.41 billion, a PE ratio of 11.89, a PEG ratio of 10.27 and a beta of 1.62. Onsemi has a 1 year low of $46.57 and a 1 year high of $85.16.

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

Insiders Place Their Bets

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction on Monday, November 25th. The stock was 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 in the company, valued at approximately $59,477,410. The trade was a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.31% of the stock is owned by company insiders.

Institutional Trading of Onsemi

A number of institutional investors have recently bought and sold shares of the company. Greenleaf Trust lifted its position in shares of Onsemi by 3.4% in the third quarter. Greenleaf Trust now owns 5,262 shares of the semiconductor company’s stock valued at $382,000 after acquiring an additional 173 shares in the last quarter. Meridian Financial Partners LLC lifted its position in shares of Onsemi by 1.7% in the third quarter. Meridian Financial Partners LLC now owns 11,305 shares of the semiconductor company’s stock valued at $821,000 after acquiring an additional 192 shares in the last quarter. Truvestments Capital LLC increased its stake in Onsemi by 3.8% in the fourth quarter. Truvestments Capital LLC now owns 5,661 shares of the semiconductor company’s stock valued at $357,000 after purchasing an additional 207 shares during the last quarter. Sentry Investment Management LLC increased its stake in Onsemi by 3.0% in the third quarter. Sentry Investment Management LLC now owns 7,177 shares of the semiconductor company’s stock valued at $521,000 after purchasing an additional 209 shares during the last quarter. Finally, CX Institutional increased 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 purchasing an additional 232 shares during the last quarter. 97.70% of the stock is currently 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.