Citigroup Has Lowered Expectations for Onsemi (NASDAQ:ON) Stock Price

Onsemi (NASDAQ:ON) had its price objective trimmed by Citigroup from $52.00 to $40.00 in a research report report published on Friday morning,Benzinga reports. The firm currently has a neutral rating on the semiconductor company’s stock.

A number of other equities analysts have also issued reports on the stock. B. Riley lowered their target price on shares of Onsemi from $90.00 to $73.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. Morgan Stanley dropped their price objective on shares of Onsemi from $52.00 to $44.00 and set an “underweight” rating on the stock in a research note on Tuesday, February 11th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $49.00 target price on shares of Onsemi in a report on Thursday, February 27th. Wells Fargo & Company lowered their price target on Onsemi from $80.00 to $60.00 and set an “overweight” rating on the stock in a report on Tuesday, February 11th. Finally, Susquehanna reduced their price objective on Onsemi from $70.00 to $60.00 and set a “positive” rating for the company in a research note on Tuesday, February 11th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Onsemi presently has an average rating of “Moderate Buy” and a consensus target price of $65.46.

Onsemi Price Performance

Shares of ON opened at $35.08 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.06 and a quick ratio of 3.38. Onsemi has a 1-year low of $31.04 and a 1-year high of $80.08. The stock has a market cap of $14.81 billion, a PE ratio of 9.66, a price-to-earnings-growth ratio of 16.74 and a beta of 1.48. The firm has a fifty day moving average price of $44.79 and a 200 day moving average price of $58.33.

Onsemi (NASDAQ:ON) last posted its 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 20.10% and a net margin of 22.21%. As a group, sell-side analysts anticipate that Onsemi will post 2.6 EPS for the current year.

Institutional Investors Weigh In On Onsemi

A number of institutional investors and hedge funds have recently modified their holdings of ON. Elequin Capital LP raised its holdings in Onsemi by 108.3% during the fourth quarter. Elequin Capital LP now owns 527 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 274 shares during the last quarter. Newbridge Financial Services Group Inc. purchased a new position in shares of Onsemi in the fourth quarter valued at $41,000. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Onsemi during the 4th quarter worth $43,000. Synergy Asset Management LLC purchased a new stake in shares of Onsemi in the 4th quarter worth about $51,000. Finally, Plato Investment Management Ltd purchased a new stake in shares of Onsemi in the 4th quarter worth about $51,000. Institutional investors and hedge funds own 97.70% of the company’s stock.

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.