Onsemi (NASDAQ:ON) Price Target Lowered to $73.00 at B. Riley

Onsemi (NASDAQ:ON) had its target price reduced by B. Riley from $90.00 to $73.00 in a report released on Tuesday,Benzinga reports. B. Riley currently has a buy rating on the semiconductor company’s stock.

Several other brokerages have also recently issued reports on ON. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $75.00 price objective on shares of Onsemi in a research note on Friday, February 7th. Citigroup lowered their price objective on shares of Onsemi from $77.00 to $52.00 and set a “neutral” rating on the stock in a research note on Tuesday. Wells Fargo & Company lowered their price objective on shares of Onsemi from $85.00 to $80.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. UBS Group lowered their price objective on shares of Onsemi from $72.00 to $65.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. Finally, Loop Capital initiated coverage on shares of Onsemi in a report on Monday, November 11th. They issued a “buy” rating and a $95.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $69.36.

Onsemi Stock Up 1.9 %

Onsemi stock opened at $47.93 on Tuesday. The stock has a market cap of $20.41 billion, a price-to-earnings ratio of 11.89, a PEG ratio of 10.27 and a beta of 1.62. The company has a current ratio of 3.07, a quick ratio of 2.02 and a debt-to-equity ratio of 0.30. The company’s 50-day moving average price is $59.62 and its two-hundred day moving average price is $67.18. Onsemi has a 52 week low of $46.57 and a 52 week high of $85.16.

Onsemi (NASDAQ:ON) last released its earnings results 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 EPS for the current fiscal year.

Insider Buying and Selling at Onsemi

In other Onsemi news, CEO Hassane El-Khoury sold 1,500 shares of Onsemi 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 sale, the chief executive officer now directly owns 837,710 shares in the company, valued at $59,477,410. The trade was a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Onsemi

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised 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 valued at $3,224,081,000 after purchasing an additional 344,354 shares during the period. Geode Capital Management LLC raised its position in shares of Onsemi by 3.0% in the third quarter. Geode Capital Management LLC now owns 10,602,000 shares of the semiconductor company’s stock valued at $767,646,000 after purchasing an additional 309,445 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of 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 valued at $247,226,000 after purchasing an additional 1,037,624 shares during the period. Van ECK Associates Corp raised its position in shares of Onsemi by 26.4% in the third 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. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Onsemi by 3.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,488,254 shares of the semiconductor company’s stock valued at $156,884,000 after purchasing an additional 83,665 shares during the period. Institutional investors 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.