Onsemi (NASDAQ:ON) PT Lowered to $85.00 at TD Cowen

Onsemi (NASDAQ:ON) had its target price reduced by TD Cowen from $90.00 to $85.00 in a research note issued to investors on Tuesday morning, MarketBeat reports. They currently have a buy rating on the semiconductor company’s stock.

ON has been the subject of a number of other reports. KeyCorp boosted their target price on Onsemi from $95.00 to $100.00 and gave the company an overweight rating in a research report on Tuesday, February 6th. Needham & Company LLC reiterated a buy rating and issued a $92.00 target price on shares of Onsemi in a report on Tuesday, February 6th. The Goldman Sachs Group decreased their price target on shares of Onsemi from $91.00 to $81.00 and set a buy rating for the company in a research note on Tuesday, April 16th. Morgan Stanley dropped their price objective on shares of Onsemi from $80.00 to $70.00 and set an equal weight rating on the stock in a research note on Monday, April 22nd. Finally, Roth Mkm upped their target price on shares of Onsemi from $75.00 to $90.00 and gave the stock a buy rating in a report on Tuesday, February 6th. 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $90.24.

Onsemi Stock Up 0.5 %

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

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

Hedge Funds Weigh In On Onsemi

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Onsemi by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 50,341,366 shares of the semiconductor company’s stock valued at $4,205,014,000 after purchasing an additional 321,682 shares in the last quarter. Capital World Investors purchased a new position in shares of Onsemi in the fourth quarter valued at $697,276,000. Invesco Ltd. boosted its holdings in Onsemi by 26.0% in the 3rd quarter. Invesco Ltd. now owns 5,812,863 shares of the semiconductor company’s stock valued at $540,306,000 after purchasing an additional 1,200,723 shares during the period. Norges Bank bought a new position in shares of Onsemi in the fourth quarter worth $418,102,000. Finally, Ameriprise Financial Inc. increased its holdings in shares of Onsemi by 23.7% in the third quarter. Ameriprise Financial Inc. now owns 4,272,182 shares of the semiconductor company’s stock worth $397,108,000 after purchasing an additional 817,237 shares during the period. 97.70% of the stock is owned by 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.