Citigroup Lowers Onsemi (NASDAQ:ON) Price Target to $52.00

Onsemi (NASDAQ:ON) had its price target reduced by analysts at Citigroup from $77.00 to $52.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the semiconductor company’s stock. Citigroup’s target price indicates a potential upside of 10.54% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on the company. BNP Paribas decreased their price target on Onsemi from $60.00 to $55.00 in a report on Friday, October 25th. KeyCorp cut their target price on Onsemi from $90.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 14th. The Goldman Sachs Group decreased their price target on shares of Onsemi from $92.00 to $77.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $75.00 price target on shares of Onsemi in a report on Friday. Finally, Morgan Stanley decreased their price objective on shares of Onsemi from $52.00 to $44.00 and set an “underweight” rating for the company in a report on Tuesday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, Onsemi presently has a consensus rating of “Moderate Buy” and a consensus price target of $75.50.

Onsemi Price Performance

ON opened at $47.04 on Tuesday. Onsemi has a 52-week low of $46.57 and a 52-week high of $85.16. The company has a 50 day moving average of $60.06 and a two-hundred day moving average of $67.34. The company has a market cap of $20.03 billion, a P/E ratio of 11.67, a P/E/G ratio of 10.27 and a beta of 1.62. The company has a quick ratio of 2.02, a current ratio of 3.07 and a debt-to-equity ratio of 0.30.

Onsemi (NASDAQ:ON) last released its quarterly earnings data on Monday, February 10th. The semiconductor company reported $0.95 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.03). Onsemi had a net margin of 23.80% and a return on equity of 22.38%. On average, analysts expect that Onsemi will post 3.99 earnings per share for the current year.

Insider Buying and Selling at Onsemi

In other news, CEO Hassane El-Khoury sold 1,500 shares of the stock in a transaction on Monday, November 25th. The stock was 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 owns 837,710 shares of the company’s stock, valued at approximately $59,477,410. This represents a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.31% of the stock is owned by company insiders.

Institutional Investors Weigh In On Onsemi

Several institutional investors have recently bought and sold shares of ON. Geode Capital Management LLC lifted its stake in shares of Onsemi by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 10,602,000 shares of the semiconductor company’s stock worth $767,646,000 after acquiring an additional 309,445 shares during the period. Allspring Global Investments Holdings LLC lifted its position in Onsemi by 35.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,005,784 shares of the semiconductor company’s stock worth $247,226,000 after purchasing an additional 1,037,624 shares during the period. Van ECK Associates Corp increased its position in shares of Onsemi by 26.4% during the 3rd quarter. Van ECK Associates Corp now owns 3,495,056 shares of the semiconductor company’s stock valued at $237,559,000 after purchasing an additional 729,081 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Onsemi by 3.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,488,254 shares of the semiconductor company’s stock worth $156,884,000 after buying an additional 83,665 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Onsemi by 19.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,009,180 shares of the semiconductor company’s stock valued at $145,887,000 after buying an additional 326,734 shares during the period. Institutional investors and hedge funds own 97.70% of the company’s stock.

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.