Onsemi (NASDAQ:ON) Given New $77.00 Price Target at The Goldman Sachs Group

Onsemi (NASDAQ:ON) had its price objective decreased by The Goldman Sachs Group from $92.00 to $77.00 in a research note issued to investors on Friday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the semiconductor company’s stock.

ON has been the topic of several other reports. BNP Paribas dropped their price target on shares of Onsemi from $60.00 to $55.00 in a research report on Friday, October 25th. Morgan Stanley raised their target price on shares of Onsemi from $63.00 to $64.00 and gave the company an “underweight” rating in a research note on Tuesday, October 29th. Needham & Company LLC reiterated a “buy” rating and set a $87.00 price target on shares of Onsemi in a report on Tuesday, November 19th. Rosenblatt Securities restated a “neutral” rating and issued a $75.00 price objective on shares of Onsemi in a research note on Tuesday, October 29th. Finally, Loop Capital assumed coverage on Onsemi in a research note on Monday, November 11th. They set a “buy” rating and a $95.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, Onsemi currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.43.

Onsemi Trading Down 7.5 %

Onsemi stock opened at $53.94 on Friday. The company has a market cap of $22.97 billion, a price-to-earnings ratio of 13.38, a P/E/G ratio of 7.07 and a beta of 1.64. The firm has a 50-day moving average of $67.20 and a 200-day moving average of $70.35. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.07 and a quick ratio of 2.02. Onsemi has a one year low of $53.60 and a one year high of $85.16.

Onsemi (NASDAQ:ON) last issued its quarterly earnings results on Monday, October 28th. The semiconductor company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.97 by $0.02. The firm had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.75 billion. Onsemi had a return on equity of 22.38% and a net margin of 23.80%. The business’s quarterly revenue was down 19.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.39 earnings per share. On average, equities analysts expect that Onsemi will post 4 earnings per share for the current fiscal year.

Insider Activity at Onsemi

In other news, CEO Hassane El-Khoury sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $71.00, for a total value of $106,500.00. Following the completion of the transaction, the chief executive officer now directly owns 837,710 shares in the company, valued at approximately $59,477,410. The trade was a 0.18 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.31% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC acquired a new position in Onsemi during the second quarter worth about $364,000. Acadian Asset Management LLC bought a new position in Onsemi in the 2nd quarter valued at approximately $2,265,000. Quest Partners LLC bought a new stake in shares of Onsemi during the second quarter worth $296,000. AGF Management Ltd. increased its holdings in shares of Onsemi by 14.8% during the second quarter. AGF Management Ltd. now owns 40,538 shares of the semiconductor company’s stock worth $2,779,000 after buying an additional 5,227 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of Onsemi by 451.3% in the 2nd quarter. American Century Companies Inc. now owns 1,111,112 shares of the semiconductor company’s stock valued at $76,167,000 after acquiring an additional 909,558 shares during the last quarter. 97.70% of the stock is 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.