Onsemi (NASDAQ:ON) Price Target Cut to $80.00 by Analysts at Benchmark

Onsemi (NASDAQ:ON) had its target price lowered by Benchmark from $88.00 to $80.00 in a research note issued to investors on Tuesday morning, Benzinga reports. Benchmark currently has a buy rating on the semiconductor company’s stock.

Several other brokerages also recently commented on ON. Mizuho cut their target price on Onsemi from $92.00 to $87.00 and set a buy rating on the stock in a report on Tuesday. Stifel Nicolaus decreased their target price on shares of Onsemi from $82.00 to $72.00 and set a hold rating for the company in a research report on Thursday, April 18th. The Goldman Sachs Group dropped their target price on shares of Onsemi from $91.00 to $81.00 and set a buy rating on the stock in a report on Tuesday, April 16th. KeyCorp lifted their price target on shares of Onsemi from $95.00 to $100.00 and gave the company an overweight rating in a research note on Tuesday, February 6th. Finally, B. Riley reaffirmed a buy rating and issued a $103.00 price target (down from $115.00) on shares of Onsemi in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $90.24.

Onsemi Trading Up 0.5 %

Shares of NASDAQ:ON traded up $0.36 during midday trading on Tuesday, hitting $70.37. 6,515,239 shares of the stock were exchanged, compared to its average volume of 7,550,528. The business’s 50-day moving average price is $72.46 and its 200 day moving average price is $74.92. The stock has a market capitalization of $30.28 billion, a price-to-earnings ratio of 14.38, a P/E/G ratio of 3.12 and a beta of 1.78. Onsemi has a 12 month low of $59.34 and a 12 month high of $111.35. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.74 and a current ratio of 2.87.

Onsemi (NASDAQ:ON) last posted its earnings results on Monday, April 29th. The semiconductor company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.85 billion. Onsemi had a net margin of 26.67% and a return on equity of 28.86%. The company’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.19 EPS. Analysts predict that Onsemi will post 3.86 earnings per share for the current year.

Institutional Trading of Onsemi

A number of institutional investors have recently modified their holdings of ON. Exchange Traded Concepts LLC lifted its stake in shares of Onsemi by 199.8% during the 3rd quarter. Exchange Traded Concepts LLC now owns 4,062 shares of the semiconductor company’s stock valued at $378,000 after buying an additional 2,707 shares in the last quarter. Valeo Financial Advisors LLC increased its holdings in Onsemi by 16.3% during the 3rd quarter. Valeo Financial Advisors LLC now owns 2,927 shares of the semiconductor company’s stock worth $272,000 after acquiring an additional 410 shares during the period. Commonwealth Equity Services LLC increased its holdings in Onsemi by 9.5% during the 3rd quarter. Commonwealth Equity Services LLC now owns 54,676 shares of the semiconductor company’s stock worth $5,082,000 after acquiring an additional 4,741 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in Onsemi by 7.0% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 48,903 shares of the semiconductor company’s stock worth $4,546,000 after acquiring an additional 3,200 shares during the period. Finally, Balboa Wealth Partners bought a new stake in Onsemi during the 3rd quarter worth approximately $212,000. 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.