Onsemi (NASDAQ:ON) Price Target Cut to $70.00

Onsemi (NASDAQ:ON) had its price objective trimmed by Rosenblatt Securities from $75.00 to $70.00 in a research note published on Tuesday morning, Benzinga reports. The firm currently has a neutral rating on the semiconductor company’s stock.

Other analysts also recently issued reports about the stock. Evercore ISI started coverage on shares of Onsemi in a research report on Tuesday, April 16th. They set an outperform rating and a $104.00 price objective on the stock. StockNews.com upgraded shares of Onsemi from a sell rating to a hold rating in a report on Wednesday, February 14th. BNP Paribas restated an underperform rating and issued a $55.00 price objective on shares of Onsemi in a report on Friday, April 19th. Stifel Nicolaus lowered their price objective on Onsemi from $82.00 to $72.00 and set a hold rating on the stock in a research report on Thursday, April 18th. Finally, Roth Mkm lifted their target price on Onsemi from $75.00 to $90.00 and gave the stock a buy rating in a report on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $90.24.

Onsemi Trading Up 0.5 %

Shares of ON opened at $70.37 on Tuesday. Onsemi has a 1-year low of $59.34 and a 1-year high of $111.35. The company has a current ratio of 2.87, a quick ratio of 1.74 and a debt-to-equity ratio of 0.32. The firm’s 50-day moving average price is $72.35 and its 200-day moving average price is $74.77. The firm has a market capitalization of $30.28 billion, a price-to-earnings ratio of 14.36, a PEG ratio of 3.12 and a beta of 1.78.

Onsemi (NASDAQ:ON) last announced its quarterly earnings data on Monday, April 29th. The semiconductor company reported $1.08 EPS for the quarter, beating the consensus estimate of $1.04 by $0.04. The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.85 billion. Onsemi had a return on equity of 28.86% and a net margin of 26.67%. The company’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.19 earnings per share. Sell-side analysts anticipate that Onsemi will post 3.86 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in 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 boosted its stake in shares of Onsemi by 16.3% in the third 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 grew its position in shares of Onsemi by 9.5% during the third quarter. Commonwealth Equity Services LLC now owns 54,676 shares of the semiconductor company’s stock worth $5,082,000 after purchasing an additional 4,741 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake 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 valued at $4,546,000 after purchasing an additional 3,200 shares during the period. Finally, Balboa Wealth Partners purchased a new position in Onsemi in the 3rd quarter worth approximately $212,000. 97.70% of the stock is 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.