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 report published on Friday. TD Cowen currently has a buy rating on the semiconductor company’s stock.

Other analysts have also recently issued research reports about the company. Bank of America raised their target price on Onsemi from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. KeyCorp decreased their price objective on Onsemi from $95.00 to $90.00 and set an “overweight” rating for the company in a research report on Tuesday, October 8th. Truist Financial upped their target price on Onsemi from $85.00 to $97.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Benchmark boosted their price target on shares of Onsemi from $80.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Finally, Mizuho set a $85.00 price objective on shares of Onsemi in a research report on Friday, October 18th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $85.43.

Onsemi Trading Up 4.8 %

ON stock traded up $3.41 during mid-day trading on Friday, reaching $74.66. 8,422,238 shares of the stock traded hands, compared to its average volume of 6,734,156. Onsemi has a 52-week low of $59.34 and a 52-week high of $86.77. The stock’s fifty day moving average is $71.63 and its 200-day moving average is $71.41. The company has a market cap of $32.12 billion, a P/E ratio of 15.08, a P/E/G ratio of 3.57 and a beta of 1.65. The company has a current ratio of 3.01, a quick ratio of 1.95 and a debt-to-equity ratio of 0.31.

Onsemi (NASDAQ:ON) last issued its quarterly earnings results on Monday, July 29th. The semiconductor company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.92 by $0.04. Onsemi had a net margin of 24.84% and a return on equity of 25.48%. The business had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the prior year, the firm earned $1.33 EPS. The firm’s quarterly revenue was down 17.2% on a year-over-year basis. As a group, sell-side analysts expect that Onsemi will post 4.01 earnings per share for the current year.

Insider Transactions at Onsemi

In related news, insider Simon Keeton sold 30,939 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $77.94, for a total value of $2,411,385.66. Following the completion of the sale, the insider now owns 231,092 shares in the company, valued at approximately $18,011,310.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Hassane El-Khoury sold 1,500 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $72.71, for a total value of $109,065.00. Following the sale, the chief executive officer now owns 839,210 shares of the company’s stock, valued at $61,018,959.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Simon Keeton sold 30,939 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $77.94, for a total transaction of $2,411,385.66. Following the completion of the transaction, the insider now directly owns 231,092 shares of the company’s stock, valued at $18,011,310.48. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,939 shares of company stock worth $2,626,651. 0.31% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Onsemi

Large investors have recently modified their holdings of the stock. GHP Investment Advisors Inc. lifted its position in shares of Onsemi by 12,850.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 518 shares of the semiconductor company’s stock worth $38,000 after buying an additional 514 shares during the period. Westside Investment Management Inc. lifted its holdings in shares of Onsemi by 5,500.0% during the first quarter. Westside Investment Management Inc. now owns 560 shares of the semiconductor company’s stock valued at $41,000 after acquiring an additional 550 shares during the period. Massmutual Trust Co. FSB ADV boosted its stake in shares of Onsemi by 36.7% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 629 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 169 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of Onsemi in the 2nd quarter worth about $43,000. Finally, Fidelis Capital Partners LLC acquired a new stake in shares of Onsemi during the 1st quarter worth about $45,000. 97.70% of the stock is currently owned by institutional investors.

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.