Onsemi (NASDAQ:ON) Given New $70.00 Price Target at Susquehanna

Onsemi (NASDAQ:ON) had its price target dropped by analysts at Susquehanna from $80.00 to $70.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “positive” rating on the semiconductor company’s stock. Susquehanna’s target price suggests a potential upside of 25.59% from the company’s current price.

Several other analysts have also recently issued reports on the company. KeyCorp reduced their price objective on Onsemi from $90.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 14th. TD Cowen lowered their price objective on Onsemi from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $75.00 target price on shares of Onsemi in a report on Tuesday, October 29th. Benchmark reiterated a “buy” rating and set a $90.00 price target on shares of Onsemi in a report on Tuesday, October 29th. Finally, Robert W. Baird raised their price objective 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 equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $82.26.

Onsemi Trading Up 0.2 %

Shares of Onsemi stock traded up $0.13 on Wednesday, reaching $55.74. The company had a trading volume of 2,445,083 shares, compared to its average volume of 8,819,231. Onsemi has a 52-week low of $53.10 and a 52-week high of $85.16. 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 firm’s 50 day moving average price is $64.66 and its two-hundred day moving average price is $69.49. The firm has a market cap of $23.73 billion, a PE ratio of 13.83, a PEG ratio of 10.36 and a beta of 1.64.

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

Insider Buying and Selling

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $71.00, for a total transaction of $106,500.00. Following the completion of the sale, the chief executive officer now directly owns 837,710 shares in the company, valued at $59,477,410. The trade was a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.31% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Onsemi

A number of institutional investors and hedge funds have recently bought and sold shares of ON. Blair William & Co. IL increased its position in shares of Onsemi by 11.3% during the second quarter. Blair William & Co. IL now owns 4,249 shares of the semiconductor company’s stock worth $291,000 after acquiring an additional 432 shares during the last quarter. Public Sector Pension Investment Board grew its stake in Onsemi by 77.6% during the 2nd quarter. Public Sector Pension Investment Board now owns 16,909 shares of the semiconductor company’s stock valued at $1,159,000 after purchasing an additional 7,386 shares in the last quarter. Marshall Wace LLP increased its holdings in Onsemi by 82.4% during the 2nd quarter. Marshall Wace LLP now owns 269,724 shares of the semiconductor company’s stock worth $18,490,000 after purchasing an additional 121,870 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Onsemi by 59.2% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 81,847 shares of the semiconductor company’s stock valued at $5,611,000 after purchasing an additional 30,425 shares in the last quarter. Finally, Toronto Dominion Bank boosted its stake in shares of Onsemi by 59.8% during the 2nd quarter. Toronto Dominion Bank now owns 241,394 shares of the semiconductor company’s stock valued at $16,548,000 after buying an additional 90,293 shares during the last quarter. Hedge funds and other institutional investors 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.