Onsemi (NASDAQ:ON) Given New $60.00 Price Target at Susquehanna

Onsemi (NASDAQ:ON) had its price target reduced by Susquehanna from $70.00 to $60.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “positive” rating on the semiconductor company’s stock. Susquehanna’s price objective would suggest a potential upside of 24.57% from the stock’s current price.

Several other equities research analysts have also recently commented on the company. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $75.00 price target on shares of Onsemi in a report on Friday. TD Cowen cut their target price on Onsemi from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, October 25th. UBS Group lowered their price target on shares of Onsemi from $72.00 to $65.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. BNP Paribas reduced their target price on shares of Onsemi from $60.00 to $55.00 in a research note on Friday, October 25th. Finally, Robert W. Baird boosted their target price on shares of Onsemi from $70.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $73.40.

Onsemi Price Performance

NASDAQ:ON traded up $1.12 during trading hours on Tuesday, reaching $48.16. 2,576,649 shares of the company were exchanged, compared to its average volume of 9,225,909. The stock’s 50-day moving average is $60.06 and its 200-day moving average is $67.34. Onsemi has a twelve month low of $46.57 and a twelve month high of $85.16. The firm has a market cap of $20.51 billion, a PE ratio of 11.97, a price-to-earnings-growth ratio of 10.27 and a beta of 1.62. The company has a current ratio of 3.07, a quick ratio of 2.02 and a debt-to-equity ratio of 0.30.

Onsemi (NASDAQ:ON) last issued its quarterly earnings results on Monday, February 10th. The semiconductor company reported $0.95 earnings per share for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.03). Onsemi had a net margin of 23.80% and a return on equity of 22.38%. On average, sell-side analysts anticipate that Onsemi will post 3.99 earnings per share for the current fiscal year.

Insider Activity at Onsemi

In related news, CEO Hassane El-Khoury sold 1,500 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 837,710 shares in the company, valued at $59,477,410. This trade represents a 0.18 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.31% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Onsemi

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