UBS Group Cuts Onsemi (NASDAQ:ON) Price Target to $40.00

Onsemi (NASDAQ:ON) had its price target cut by UBS Group from $55.00 to $40.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a neutral rating on the semiconductor company’s stock.

Several other research firms have also weighed in on ON. Rosenblatt Securities reissued a “neutral” rating and issued a $49.00 target price on shares of Onsemi in a report on Thursday, February 27th. Susquehanna dropped their target price on shares of Onsemi from $70.00 to $60.00 and set a “positive” rating for the company in a report on Tuesday, February 11th. Craig Hallum lowered their price target on shares of Onsemi from $78.00 to $50.00 and set a “hold” rating on the stock in a research report on Tuesday, February 11th. Citigroup cut their price objective on Onsemi from $52.00 to $40.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Finally, Truist Financial lowered their target price on Onsemi from $60.00 to $52.00 and set a “hold” rating on the stock in a report on Tuesday, February 11th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $61.24.

Onsemi Stock Down 0.3 %

Shares of NASDAQ ON opened at $39.60 on Tuesday. The stock has a market capitalization of $16.71 billion, a price-to-earnings ratio of 10.91, a price-to-earnings-growth ratio of 16.74 and a beta of 1.48. Onsemi has a 52 week low of $31.04 and a 52 week high of $80.08. The firm has a 50-day moving average price of $40.66 and a 200 day moving average price of $55.19. The company has a quick ratio of 3.38, a current ratio of 5.06 and a debt-to-equity ratio of 0.38.

Onsemi (NASDAQ:ON) last posted its quarterly earnings results on Monday, February 10th. The semiconductor company reported $0.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.03). Onsemi had a net margin of 22.21% and a return on equity of 20.10%. Equities research analysts anticipate that Onsemi will post 2.6 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Onsemi by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 51,135,303 shares of the semiconductor company’s stock worth $3,224,081,000 after acquiring an additional 344,354 shares in the last quarter. Janus Henderson Group PLC boosted its position in Onsemi by 9.2% during the 4th quarter. Janus Henderson Group PLC now owns 12,377,264 shares of the semiconductor company’s stock worth $780,387,000 after purchasing an additional 1,041,989 shares during the period. Norges Bank acquired a new stake in Onsemi in the 4th quarter valued at $378,312,000. Allspring Global Investments Holdings LLC raised its position in Onsemi by 26.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 5,061,245 shares of the semiconductor company’s stock valued at $203,462,000 after purchasing an additional 1,055,461 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Onsemi by 18.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,014,671 shares of the semiconductor company’s stock valued at $316,195,000 after purchasing an additional 771,610 shares during the period. Institutional investors and hedge funds 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.