Benchmark Cuts Onsemi (NASDAQ:ON) Price Target to $50.00

Onsemi (NASDAQ:ON) had its price objective reduced by Benchmark from $60.00 to $50.00 in a research report released on Tuesday, MarketBeat Ratings reports. They currently have a buy rating on the semiconductor company’s stock.

Several other equities analysts also recently issued reports on ON. KeyCorp cut their price objective on Onsemi from $60.00 to $55.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. JPMorgan Chase & Co. cut their price target on Onsemi from $88.00 to $60.00 and set a “neutral” rating for the company in a report on Tuesday, February 11th. Jefferies Financial Group reduced their price target on shares of Onsemi from $100.00 to $85.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. Craig Hallum dropped their target price on shares of Onsemi from $78.00 to $50.00 and set a “hold” rating for the company in a research note on Tuesday, February 11th. Finally, Rosenblatt Securities reiterated a “neutral” rating and set a $49.00 target price on shares of Onsemi in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $54.32.

Onsemi Stock Performance

Shares of NASDAQ:ON opened at $39.77 on Tuesday. The stock has a market capitalization of $16.78 billion, a price-to-earnings ratio of 10.96, a price-to-earnings-growth ratio of 16.74 and a beta of 1.39. The business’s fifty day moving average price is $39.79 and its two-hundred day moving average price is $54.19. Onsemi has a fifty-two week low of $31.04 and a fifty-two week high of $80.08. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.06 and a quick ratio of 3.38.

Onsemi (NASDAQ:ON) last announced its earnings results on Monday, May 5th. The semiconductor company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. The business had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Onsemi had a net margin of 22.21% and a return on equity of 20.10%. The firm’s revenue for the quarter was down 22.4% on a year-over-year basis. During the same quarter last year, the company posted $1.08 EPS. As a group, analysts predict that Onsemi will post 2.6 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Golden State Wealth Management LLC lifted its holdings in shares of Onsemi by 83.3% during the 1st quarter. Golden State Wealth Management LLC now owns 704 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 320 shares in the last quarter. Elequin Capital LP lifted its stake in Onsemi by 108.3% in the fourth quarter. Elequin Capital LP now owns 527 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 274 shares in the last quarter. Newbridge Financial Services Group Inc. acquired a new position in shares of Onsemi in the fourth quarter valued at approximately $41,000. Opal Wealth Advisors LLC bought a new stake in shares of Onsemi during the first quarter worth $41,000. Finally, Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Onsemi during the fourth quarter worth $43,000. 97.70% of the stock is owned by institutional investors and hedge funds.

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.