Onsemi (NASDAQ:ON) Price Target Cut to $89.00 by Analysts at Truist Financial

Onsemi (NASDAQ:ON) had its price objective reduced by Truist Financial from $97.00 to $89.00 in a research report sent to investors on Tuesday morning, Benzinga reports. Truist Financial currently has a buy rating on the semiconductor company’s stock.

Several other equities analysts also recently weighed in on the stock. Mizuho set a $85.00 price target on shares of Onsemi in a research note on Friday, October 18th. Needham & Company LLC decreased their price target on shares of Onsemi from $92.00 to $87.00 and set a “buy” rating on the stock in a research note on Tuesday. Bank of America lifted their target price on shares of Onsemi from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. KeyCorp reduced their target price on shares of Onsemi from $95.00 to $90.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 8th. Finally, Benchmark reaffirmed a “buy” rating and set a $90.00 target price on shares of Onsemi in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $85.91.

Onsemi Stock Down 4.3 %

Shares of NASDAQ ON opened at $70.49 on Tuesday. The company’s 50-day simple moving average is $71.43 and its 200-day simple moving average is $71.49. Onsemi has a 52-week low of $59.34 and a 52-week high of $86.77. The firm has a market cap of $30.01 billion, a price-to-earnings ratio of 17.49, a price-to-earnings-growth ratio of 7.89 and a beta of 1.65. The company has a quick ratio of 1.95, a current ratio of 3.07 and a debt-to-equity ratio of 0.30.

Onsemi (NASDAQ:ON) last posted its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.02. The firm had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.75 billion. Onsemi had a net margin of 23.80% and a return on equity of 22.38%. The company’s revenue for the quarter was down 19.2% on a year-over-year basis. During the same period last year, the firm posted $1.39 earnings per share. Equities analysts predict that Onsemi will post 4 EPS for the current fiscal year.

Insider Activity at Onsemi

In related news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $72.71, for a total value of $109,065.00. Following the completion of the transaction, the chief executive officer now owns 839,210 shares in the company, valued at approximately $61,018,959.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ON. GHP Investment Advisors Inc. grew its holdings in Onsemi by 12,850.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 518 shares of the semiconductor company’s stock worth $38,000 after acquiring an additional 514 shares in the last quarter. Westside Investment Management Inc. grew its holdings in Onsemi by 5,500.0% during the 1st quarter. Westside Investment Management Inc. now owns 560 shares of the semiconductor company’s stock worth $41,000 after acquiring an additional 550 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in Onsemi by 36.7% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock worth $43,000 after acquiring an additional 169 shares in the last quarter. International Assets Investment Management LLC acquired a new position in Onsemi during the 2nd quarter worth approximately $43,000. Finally, Fidelis Capital Partners LLC purchased a new stake in shares of Onsemi during the 1st quarter worth approximately $45,000. Institutional investors and hedge funds own 97.70% of the company’s stock.

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.